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Dec 31, 2022
Aadi Bioscience Q4 2022 Earnings Report
Aadi Bioscience reported Q4 2022 earnings, with FYARRO net product sales reaching $5.2 million, a 23% quarter-over-quarter growth, and a net loss of $13.9 million.
Key Takeaways
Aadi Bioscience announced its Q4 and full-year 2022 financial results, featuring $5.2 million in FYARRO net product sales for the quarter and a net loss of $13.9 million. The company highlighted the progress of the PRECISION 1 trial and a new collaboration with Mirati Therapeutics.
FYARRO net product sales were $5.2 million in Q4 2022, representing a 23% quarter-over-quarter growth.
The PRECISION 1 trial in patients with tumor agnostic TSC1 and TSC2 inactivating alterations is advancing with continued enrollment.
Aadi closed on a $72.5M financing during the fourth quarter, extending the Company’s cash runway into 2025.
A clinical collaboration agreement was signed with Mirati Therapeutics on combination of adagrasib with nab-sirolimus, with the Phase 1/2 trial expected to begin in the second quarter of 2023.
Forward Guidance
The company anticipates continued advancements in 2023, including progression in their first collaboration expected to initiate in the second quarter and providing preliminary data on patients in the PRECISION 1 trial in the second quarter of 2023.
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