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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.
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.
Historical Earnings Impact
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