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Jun 30, 2024
Aadi Bioscience Q2 2024 Earnings Report
Aadi Bioscience experienced FYARRO sales growth and advanced clinical trials.
Key Takeaways
Aadi Bioscience reported FYARRO sales of $6.2 million for Q2 2024, a 15% increase quarter-over-quarter. The company is progressing with its PRECISION1 trial and expects an interim analysis in Q3 2024. Net loss for the quarter was $14.6 million.
FYARRO net product sales reached $6.2 million, a 15% increase from Q1 2024 and consistent with the prior year.
An interim analysis of the PRECISION1 trial is planned for Q3 2024.
Enrollment is ongoing for two additional Phase 2 trials, with initial data expected by the end of the year.
Cash, cash equivalents, and short-term investments totaled $78.6 million as of June 30, 2024, expected to fund operations into Q4 2025.
Forward Guidance
Aadi Bioscience anticipates continued advancements and potential additional indications for FYARRO, with expectations of a return to sales growth. The company believes its current cash runway will extend into the fourth quarter of 2025.
Positive Outlook
- Potential for additional indications for FYARRO.
- Expectations of a return to sales growth.
- Continued advancements in clinical trials.
- Cash runway extending into Q4 2025.
- Beneficial characteristics, safety, and efficacy of FYARRO.
Challenges Ahead
- Uncertainties associated with clinical development and regulatory approval of FYARRO in additional indications.
- Potential delays in clinical trial commencement, enrollment, and completion.
- Risks associated with the ability to successfully commercialize FYARRO.
- Risk of unforeseen adverse reactions or side effects during commercialization and development.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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