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Jun 30
Astria Q2 2025 Earnings Report
Astria reported a wider net loss in Q2 2025 due to increased R&D and G&A expenses, while maintaining a strong cash position following a new licensing deal.
Key Takeaways
Astria Therapeutics posted a net loss of $33.1 million in Q2 2025 as operating expenses rose, primarily from clinical trials and stock-based compensation. Despite no revenue, the company ended the quarter with $259.2 million in cash and investments, supported by an upfront payment from its partnership with Kaken.
Net loss grew to $33.1 million in Q2 2025 compared to $24.2 million in Q2 2024.
Cash and short-term investments stood at $259.2 million at quarter-end.
R&D expenses rose to $25.9 million, driven by Phase 3 trial costs and team growth.
Astria secured a $16 million upfront payment from Kaken Pharmaceutical in Q3 2025.
Astria
Astria
Forward Guidance
Astria expects its cash position, including new licensing revenue, to fund operations into 2028 while progressing navenibart and STAR-0310 clinical trials.
Positive Outlook
- Cash runway extended into 2028 with Kaken deal support.
- Phase 3 ALPHA-ORBIT trial enrollment is ongoing.
- Initial STAR-0310 Phase 1a data expected in Q3 2025.
- Strategic licensing agreement with Kaken for Japan rights.
- Strong patient and physician interest in HAE program.
Challenges Ahead
- No revenue generation to date.
- R&D expenses increased significantly year-over-year.
- Dependence on successful Phase 3 trial outcomes.
- Clinical trial delays or regulatory issues could impact pipeline.
- Unspecified stock-based compensation contributes to rising costs.