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Sep 30, 2022
Lianbio-Adr Q3 2022 Earnings Report
LianBio reported results for the third quarter of 2022 and provided a corporate update.
Key Takeaways
LianBio reported a net loss of $21.9 million for the third quarter of 2022, compared to a net loss of $13.1 million for the third quarter of 2021. The company's cash balance was $331.8 million at the end of the third quarter of 2022, which is expected to fund operations into the second half of 2024.
Enrollment completed in registrational Phase 3 EXPLORER-CN trial of mavacamten, with data expected mid-2023.
Pivotal Phase 3 LIBRA trial of TP-03 for the treatment of Demodex blepharitis initiated in China, with data expected in the fourth quarter of 2023.
Pivotal Phase 3 NANORAY-312 trial of NBTXR3 for the treatment of head & neck cancer initiated in Asia.
Cash balance of $331.8 million at the end of third quarter 2022 with runway into the second half of 2024.
Forward Guidance
LianBio anticipates several key milestones in 2023, including topline data from Phase 3 trials for mavacamten and TP-03, and initiation of a Phase 1 trial for BBP-398 in combination with an EGFR-inhibitor.
Positive Outlook
- Topline data from the Phase 3 EXPLORER-CN trial of mavacamten is expected in mid-2023.
- Topline data from the Phase 3 LIBRA trial of TP-03 is expected in the fourth quarter of 2023.
- Topline data from the ongoing Phase 2a clinical trial of infigratinib is expected in the second half of 2023.
- A Phase 1 clinical trial of BBP-398 in combination with an EGFR-inhibitor in non-small cell lung cancer is expected to be initiated in the first half of 2023.
- Mavacamten patient education and physician awareness activities are underway in China.
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