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Sep 30, 2023
Acasti Pharma Q2 2024 Earnings Report
Acasti Pharma reported financial results for the second quarter of 2024 and provided business highlights.
Key Takeaways
Acasti Pharma reported a net loss of $3.3 million, or $0.43 per share, for the quarter ended September 30, 2023. The company highlighted the initiation of its Phase 3 STRIVE-ON trial and secured $7.5 million in private placement financing.
Dosing of first patient in pivotal STRIVE-ON Phase 3 randomized trial for GTX-104 was announced.
A $7.5 million private placement equity financing was completed, providing funding beyond the anticipated NDA submission for GTX-104.
The potential of GTX-104 as a new treatment standard for aneurysmal subarachnoid hemorrhage was highlighted.
A poster on the pharmacokinetic comparison of GTX-104 with oral nimodipine was presented at the 2023 Neurocritical Care Society Annual Meeting.
Forward Guidance
Acasti intends to use the net proceeds from the private placement for clinical trial expenses to further the Phase 3 clinical trial for GTX-104, prepare and submit an NDA filing for GTX-104 with FDA, pre-commercial planning, working capital and other general corporate purposes.
Positive Outlook
- Funding to advance Phase 3 clinical trial for GTX-104.
- Preparation and submission of NDA filing for GTX-104 with FDA.
- Pre-commercial planning.
- Provides working capital.
- Supports other general corporate purposes.
Historical Earnings Impact
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