Loading...
•
Mar 31, 2023
Apogee Q1 2023 Earnings Report
Reported first quarter financial results and pipeline progress.
Key Takeaways
Apogee Therapeutics reported its first quarter financial results, highlighting the initiation of a Phase 2 clinical trial for APG777, dosing of the first participant in the Phase 1 trial of APG808, and nomination of a development candidate for APG990. The company's cash runway extends into 2028, supported by $816 million in cash, cash equivalents and marketable securities.
Initiated a Phase 2 clinical trial of APG777 in patients with moderate-to-severe atopic dermatitis, with 16-week proof-of-concept data expected in 2H 2025.
Dosed first participant in Phase 1 clinical trial of APG808 for the treatment of chronic obstructive pulmonary disease and other inflammatory diseases, with interim Phase 1 data expected in 2H 2024.
Nominated development candidate for APG990, with a Phase 1 trial expected to initiate in 2H 2024.
Cash, cash equivalents and marketable securities totaled $816 million, providing runway into 2028.
Apogee
Apogee
Forward Guidance
Apogee Therapeutics is advancing its pipeline with multiple clinical trials planned and data readouts expected in the near term. The company's strong financial position supports operations into 2028.
Positive Outlook
- Phase 2 trial of APG777 initiated with data expected in 2H 2025.
- Phase 1 trial of APG808 initiated with interim data expected in 2H 2024.
- Phase 1b readout for APG808 in asthma to follow in the first half of 2025.
- Phase 2 trial in COPD planned in the same year.
- Phase 1 trial for APG990 expected to initiate in 2H 2024.
Challenges Ahead
- Clinical trial outcomes are subject to various risks and uncertainties.
- The relationship between preclinical and clinical study results is unpredictable.
- Regulatory filings and approvals are not guaranteed.
- Global macroeconomic conditions and related volatility.
- Potential delays or setbacks in research and development programs.