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Sep 30, 2022
Aadi Bioscience Q3 2022 Earnings Report
Aadi Bioscience reported revenue growth driven by FYARRO sales and strengthened its balance sheet through a PIPE financing.
Key Takeaways
Aadi Bioscience announced financial results for the third quarter of 2022, featuring a 24% revenue increase in FYARRO sales compared to the second quarter and the completion of a $72.5 million PIPE financing, extending the company's cash runway into 2025. The company's PRECISION 1 trial is on track, with preliminary data expected in the first half of 2023.
Closed $72.5M PIPE financing, extending cash runway into 2025.
PRECISION 1 trial is on track, with preliminary data expected in the first half of 2023.
FYARRO net product sales grew by 24% over the second quarter of 2022.
Signed clinical collaboration agreement with Mirati Therapeutics to evaluate combination therapy.
Aadi Bioscience
Aadi Bioscience
Forward Guidance
Aadi Bioscience expects to continue advancing the PRECISION 1 trial and growing FYARRO commercial efforts, and to fund research and development of additional clinical opportunities with FYARRO.
Positive Outlook
- Advancement of the PRECISION 1 registrational-directed trial.
- Preliminary data from PRECISION 1 expected in the first half of 2023.
- Growing FYARRO net product sales.
- Clinical collaboration with Mirati Therapeutics.
- Extended cash runway into 2025.