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Dec 31, 2022
Astria Q4 2022 Earnings Report
Reported financial results for the fourth quarter and full year ended December 31, 2022, and provided a corporate update.
Key Takeaways
Astria Therapeutics reported its Q4 and full year 2022 financial results. The company's cash, cash equivalents, and short-term investments were $226.4 million as of December 31, 2022. The ALPHA-STAR Phase 1b/2 trial is underway with initial proof-of-concept results anticipated in mid-2024.
ALPHA-STAR Phase 1b/2 Trial in People with HAE Underway with Initial Proof-of-Concept Results Anticipated Mid-2024
Phase 1a Results Support STAR-0215’s Target Profile as a Long-Acting Plasma Kallikrein Inhibitor with Estimated Half-Life of up to 117 Days
Ended 4Q 2022 with Cash, Cash Equivalents, and Short-term Investments of $226M, Expected Cash Runway Through H1 2025
Closed a $115.0 million underwritten offering of common stock in December 2022.
Astria
Astria
Forward Guidance
This press release contains forward-looking statements regarding expectations for the STAR-0215 trial, its potential attributes, commercial opportunity, and the company's cash runway.
Positive Outlook
- Anticipated nature and timing of receipt of the data from the two additional cohorts in such trial
- Expectations regarding the timing and nature of the anticipated proof of concept results from the ALPHA-STAR Phase 1b/2 clinical trial of STAR-0215
- The longer term development plans for STAR-0215, including the plan, assuming positive results, to move directly from the ALPHA-STAR trial into a pivotal trial
- The potential attributes and differentiated profile of STAR-0215 as a treatment for HAE, including those suggested by the preliminary and initial results from the STAR-0215 Phase 1a trial and market research, and our goals and vision for STAR-0215
- The potential commercial opportunity for STAR-0215 in HAE and the likelihood that it can effectively compete in HAE, assuming its approved
Challenges Ahead
- Changes in applicable laws or regulations
- The possibility that we may be adversely affected by other economic, business, and/or competitive factors, including the COVID-19 pandemic
- Risks inherent in pharmaceutical research and development, such as: adverse results in our drug discovery, preclinical and clinical development activities, the risk that the results of pre-clinical studies may not be replicated in clinical studies, that the preliminary results from the Phase 1a trial may not be indicative of the final results
- Decisions made by, and feedback received from, the U.S. Food and Drug Administration and other regulatory authorities on our regulatory and clinical trial submissions and other feedback from potential clinical trial sites, including investigational review boards at such sites, and other review bodies with respect to STAR-0215 and any other future development candidates
- Our ability to manage our cash usage and the possibility of unexpected cash expenditures