Reneo Pharmaceuticals Q1 2021 Earnings Report
Key Takeaways
Reneo Pharmaceuticals reported a net loss of $7.2 million, or $3.48 per share, for the three months ended March 31, 2021. The company had $91.2 million in cash and cash equivalents as of March 31, 2021.
Initiated the STRIDE study, a global, randomized, double-blind, placebo-controlled Phase 2b clinical trial of REN001 in patients with primary mitochondrial myopathies (PMM).
Completed an initial public offering (IPO) of the company’s common stock for total gross proceeds of approximately $94 million.
Re-initiated enrollment of two open-label Phase 1b clinical trials in patients with long-chain fatty acid oxidation disorder (LC-FAOD) and in patients with glycogen storage disease type V (McArdle disease).
Initiated an observational clinical trial in patients with LC-FAOD to better understand changes in disease characteristics over time (“FORWARD” study).