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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.
Aadi Bioscience
Aadi Bioscience
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.
- Risks related to estimates regarding future expenses, capital requirements, and need for additional financing.