Reneo Pharmaceuticals Q3 2022 Earnings Report
Key Takeaways
Reneo Pharmaceuticals reported a net loss of $13.0 million, or $0.53 per share, for the three months ended September 30, 2022. The company had approximately $116 million in cash, cash equivalents and short-term investments as of September 30, 2022. They have achieved over 80% enrollment in the ongoing pivotal STRIDE study in primary mitochondrial myopathy (PMM) patients with mitochondrial DNA (mtDNA) defects and remain on track to announce topline data from this study in the fourth quarter of 2023.
Enrolled over 80% of the population in the ongoing pivotal STRIDE study
Positive data from the STRIDE and STRIDE AHEAD studies could potentially support registration of REN001 for PMM patients with mtDNA defects
Announced plans to study REN001 in PMM patients with nDNA defects
Announced successful Phase 1b study in LC-FAOD patients with nDNA defects, and plans to move the program forward into Phase 2 development
Reneo Pharmaceuticals
Reneo Pharmaceuticals
Forward Guidance
Completion of enrollment in the pivotal STRIDE study in the first quarter of 2023; topline data in the fourth quarter of 2023. Meetings with regulatory agencies to discuss a Phase 2 study for LC-FAOD patients in the fourth quarter of 2022; update to be provided in the first quarter of 2023. Update on plans to study REN001 in PMM patients with nDNA defects in the first quarter of 2023