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Jun 30, 2021
Disc Medicine Q2 2021 Earnings Report
Gemini Therapeutics reported financial results and provided a business update.
Key Takeaways
Gemini Therapeutics reported a net loss of $16.4 million, or $0.38 per share, for the second quarter ended June 30, 2021. The company's research and development expenses totaled $10.8 million, and general and administrative expenses were $5.5 million. As of June 30, 2021, Gemini held $167.5 million in cash.
Initial data from Phase 2a study in geographic atrophy demonstrated GEM103's ability to regulate complement and showed a differentiated safety profile.
Enrollment completed in Phase 2a study of GEM103 in wet AMD, with six-month data expected by year-end.
A randomized, sham-controlled clinical trial to evaluate GEM103's ability to limit geographic atrophy is planned for 1H 2022.
Initial study data highlighted GEM103’s generally favorable safety and tolerability profile.
Forward Guidance
Gemini Therapeutics is advancing GEM103 for genetically defined AMD and planning a sham-controlled study for geographic atrophy in 1H 2022.
Positive Outlook
- GEM103 demonstrated ability to regulate complement.
- GEM103 showed a differentiated safety profile.
- Phase 2a study enrollment completed for wet AMD.
- Six-month data for wet AMD study expected by year-end.
- Sham-controlled trial planned for geographic atrophy in 1H 2022.
Historical Earnings Impact
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