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Mar 31, 2022
Aadi Bioscience Q1 2022 Earnings Report
Aadi Bioscience reported first quarter 2022 financial results and provided a corporate update.
Key Takeaways
Aadi Bioscience reported FYARRO net product sales of $2.3 million in the first quarter of 2022, following its launch in February. The company's cash and cash equivalents totaled $129.8 million as of March 31, 2022. Net loss for the quarter was $13.9 million.
FYARRO net product sales were $2.3 million in partial first quarter.
First patient was dosed in PRECISION 1, a Phase 2 tumor-agnostic registration-directed trial evaluating nab-sirolimus in TSC1 or TSC2 altered solid tumors.
Aadi was granted a product-specific permanent J-code (J9331) for FYARRO that will become effective on July 1, 2022.
Aadi announced a partnership with NGS providers and leaders in genomic testing and profiling, including Foundation Medicine, Tempus and others, to assist with identifying patients for its PRECISION 1 trial.
Forward Guidance
Aadi cautions that certain statements included in the press release are forward-looking statements based on current beliefs and expectations.
Positive Outlook
- Plans and potential for success relating to commercializing FYARRO.
- Expectations regarding the beneficial characteristics, safety, efficacy and therapeutic effects of FYARRO.
- Plans related to further development and manufacturing of FYARRO.
- Anticipated reception of FYARRO in the physician community.
- Sufficiency of existing capital resources and the expected timeframe to fund future operating expenses and capital expenditure requirements.
Challenges Ahead
- Risks related to Aadi’s ability to successfully commercialize FYARRO.
- Risks related to reimbursement and pricing of FYARRO.
- Uncertainties associated with the clinical development and regulatory approval of FYARRO in additional indications, including potential delays in the commencement, enrollment and completion of clinical trials for additional indications.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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