HAYWARD, Calif., March 25, 2025 (GLOBE NEWSWIRE) -- Benitec Biopharma Inc. (NASDAQ:BNTC) ("Benitec" or the "Company"), a clinical-stage, gene therapy-focused, biotechnology company developing novel genetic medicines based on its proprietary DNA-directed RNA interference ("ddRNAi") "Silence and Replace" platform, today announced the pricing of its underwritten offering of 1,443,000 shares of its common stock (or pre-funded warrants to purchase common stock in lieu thereof) and a concurrent registered direct ...

Core Viewpoint - Benitec Biopharma Inc. has announced the pricing of an underwritten offering of 1,443,000 shares and a concurrent registered direct offering of 900,000 shares, aiming to raise approximately $30 million to support its product candidate programs and general corporate purposes [1][2]. Group 1: Offering Details - The underwritten offering includes 1,443,000 shares of common stock priced at $13.00 each, and pre-funded warrants priced at $12.9999, which are immediately exercisable at an exercise price of $0.0001 per share [1]. - The concurrent registered direct offering involves 900,000 shares of common stock with long-term investor Suvretta Capital [1]. - The total gross proceeds from both offerings are expected to be around $30 million before deducting any underwriting discounts and expenses [2]. Group 2: Use of Proceeds - The net proceeds from the offerings will be utilized to further develop the company's product candidate programs, along with working capital and other general corporate purposes [2]. Group 3: Management and Governance - In connection with the registered direct offering, discussions have been held regarding the appointment of David Friedman from Suvretta Capital to the company's board of directors, pending board approval [4]. - The company previously appointed Kishen Mehta, a portfolio manager at Suvretta Capital, to its board on June 26, 2024 [4]. Group 4: Company Overview - Benitec Biopharma Inc. is a clinical-stage biotechnology company based in Hayward, California, focusing on developing novel genetic medicines using its proprietary "Silence and Replace" platform [7]. - The company's technology combines RNA interference with gene therapy to create treatments for chronic and life-threatening conditions, including Oculopharyngeal Muscular Dystrophy (OPMD) [7].

-Durable, Clinically Significant Improvements in Swallowing Function Achieved 12-months Post-Treatment with BB-301 for Subject 1- -Durable, Clinically Significant Improvements in Swallowing Function Achieved 12-months Post-Treatment with BB-301 for Subject 2, with Subject 2 Achieving a Clinically Normal Swallowing Profile Following the Significant Reduction in Total Dysphagic Symptom Burden- -Clinically Significant Improvements in Swallowing Function Achieved 3-months Post-Treatment with BB-301 for Subject ...

Core Insights - Benitec Biopharma Inc. has reported durable and clinically significant improvements in swallowing function for subjects treated with BB-301, a gene therapy for Oculopharyngeal Muscular Dystrophy (OPMD) [1][3][19] - The interim clinical study results will be presented at the 2025 Muscular Dystrophy Association Clinical & Scientific Conference, highlighting the efficacy of BB-301 in reducing dysphagic symptom burden [1][2] Summary of Clinical Results - Subject 1 showed a 37% reduction in Total Pharyngeal Residue for Thin Liquid, an 18% reduction for Solid Food, and a 29% reduction for Thick Liquids, with a 41% reduction in total dysphagic symptom burden 12 months post-treatment [8][9] - Subject 2 experienced a significant reduction in pathologic sequential swallows, achieving a clinically normal swallowing profile with a 91% reduction in total dysphagic symptom burden, resulting in an SSQ score of 68 units [10][12] - Subject 3 achieved complete resolution of pathologic sequential swallows and a 68% reduction in total dysphagic symptom burden, with an SSQ score of 70 units indicative of a clinically normal swallowing profile at 3 months post-treatment [13][15] Study Design and Methodology - The study is a Phase 1b/2a, open-label, dose escalation trial assessing the safety and clinical activity of BB-301 in OPMD patients [3][19] - Key assessment methods include videofluoroscopic swallowing study (VFSS) for swallowing efficiency and effectiveness, and the Sydney Swallow Questionnaire (SSQ) for patient-reported outcomes [2][5] Company Overview - Benitec Biopharma Inc. is focused on developing novel genetic medicines using its proprietary "Silence and Replace" DNA-directed RNA interference platform, targeting chronic and life-threatening conditions like OPMD [19]

Core Viewpoint - Benitec Biopharma Inc. is actively participating in several upcoming healthcare conferences to showcase its advancements in gene therapy and its proprietary "Silence and Replace" platform [1][2][3]. Group 1: Company Overview - Benitec Biopharma Inc. is a clinical-stage biotechnology company based in Hayward, California, focused on developing novel genetic medicines [4]. - The company utilizes a proprietary "Silence and Replace" DNA-directed RNA interference platform that combines RNA interference with gene therapy [4]. - Benitec is developing therapeutics targeting chronic and life-threatening conditions, including Oculopharyngeal Muscular Dystrophy (OPMD) [4]. Group 2: Upcoming Conferences - Benitec will present at the TD Cowen 45 Annual Health Care Conference on March 5, 2025, from 9:50 AM to 10:20 AM EST, with a format of presentation and 1x1 meetings [2]. - The company will also participate in the Leerink Partners Global Healthcare Conference on March 12, 2025, from 9:20 AM to 9:50 AM EST, featuring a fireside chat and 1x1 meetings [2]. - Additionally, Benitec will be involved in the 2025 Muscular Dystrophy Association Clinical & Scientific Conference, with a panel discussion on March 18, 2025, and a presentation on March 19, 2025 [3].

Core Viewpoint - Benitec Biopharma Limited (BNTC) shows significant upside potential with a mean price target of $25.43, indicating a 127.3% increase from its current price of $11.19 [1] Price Targets and Analyst Estimates - The mean estimate consists of seven short-term price targets with a standard deviation of $7.02, suggesting variability among analysts [2] - The lowest price target of $17 indicates a 51.9% increase, while the highest target of $35 suggests a potential surge of 212.8% [2] - A low standard deviation indicates a high degree of agreement among analysts regarding the stock's price movement [7] Earnings Estimates and Market Sentiment - Analysts have shown increasing optimism about BNTC's earnings prospects, with a strong consensus in revising EPS estimates higher [9] - Over the last 30 days, the Zacks Consensus Estimate for the current year has increased by 58.8%, with three estimates moving higher and no negative revisions [10] - BNTC holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [11] Caution on Price Targets - Solely relying on price targets for investment decisions may not be wise, as empirical research indicates that they often mislead investors [5][8] - Analysts may set overly optimistic price targets due to business incentives, which can inflate expectations [6]

Core Viewpoint - The article emphasizes the importance of identifying and maintaining trends in short-term investing, highlighting that sound fundamentals and positive earnings estimates are crucial for sustaining momentum in stocks [1]. Group 1: Stock Analysis - Benitec Biopharma Limited (BNTC) has shown a solid price increase of 15% over the past 12 weeks, indicating strong investor interest [3]. - The stock has also increased by 4.7% in the last four weeks, suggesting that the upward trend is still intact [4]. - BNTC is currently trading at 80.1% of its 52-week high-low range, indicating a potential breakout opportunity [4]. Group 2: Fundamental Strength - BNTC holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises [5]. - The stock has an Average Broker Recommendation of 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term price performance [6]. Group 3: Investment Strategy - The "Recent Price Strength" screen is a useful tool for identifying stocks with strong fundamentals that can maintain their upward trends [2]. - In addition to BNTC, there are several other stocks that meet the criteria of the "Recent Price Strength" screen, suggesting potential investment opportunities [7].

Financial Performance - Total revenues for Q2 2025 were $0.0 million, unchanged from Q2 2024[10] - Total expenses for Q2 2025 were $8.6 million, up from $6.9 million in Q2 2024, with R&D expenses remaining steady at $5.1 million[11] - Net loss for Q2 2025 was $7.4 million, or $(0.33) per share, compared to a net loss of $6.8 million, or $(2.64) per share in Q2 2024[12] - As of December 31, 2024, the company had $78.3 million in cash and cash equivalents, including $39.5 million from warrant exercises[12] - Financial challenges include ongoing losses, future revenue projections, and the need for additional financing[20] - The company is addressing identified material weaknesses in its internal controls over financial reporting[20] Clinical Development - Five subjects have been safely treated with the low-dose of BB-301, with interim results showing significant reductions in dysphagic deficits[6] - The company plans to begin treating a second cohort of OPMD subjects with a higher dose of BB-301 later in 2025[9] - An interim clinical study update will be presented at the 2025 Muscular Dystrophy Association Clinical & Scientific Conference on March 19, 2025[9] - The ongoing clinical study aims to assess the safety and clinical activity of BB-301 in treating OPMD-related dysphagia[4] - The company reported no severe adverse events in study subjects treated with BB-301[6] Strategic Focus - The company is focused on developing BB-301, a gene therapy targeting Oculopharyngeal Muscular Dystrophy (OPMD) through its proprietary "Silence and Replace" platform[18] - The company is focused on developing and commercializing product candidates, with ongoing clinical trials and regulatory filings that may impact future results[20] - The company is exploring the development of novel AAV vectors and potential future collaborations[20] Risks and Challenges - There are risks related to patient enrollment and dosing in clinical trials, which could affect the timing and availability of data[20] - The company faces uncertainties regarding its intellectual property position and the duration of its patent portfolio[20] - Market competition and the acceptance of the company's products in the marketplace are critical factors for success[20] - The company is dependent on relationships with collaboration partners and third parties for its operations[20] - The efficacy and safety of the company's products, as well as those of its partners, are under scrutiny[20] - Economic conditions and regulatory developments may significantly impact the company's operations and financial performance[20]

Core Insights - Benitec Biopharma Inc. is advancing its BB-301 gene therapy for Oculopharyngeal Muscular Dystrophy (OPMD), with interim clinical study results showing durable improvements in swallowing function for treated subjects [1][2][6] - The company reported no revenues for the second fiscal quarter ended December 31, 2024, while total expenses increased to $8.6 million from $6.9 million in the same quarter of the previous year [9][10] - The company has a cash position of $78.3 million as of December 31, 2024, which includes $39.5 million from warrant exercises [11] Clinical Development - The BB-301 Phase 1b/2a clinical study is ongoing, with five subjects safely treated at the lowest dose, and the company plans to enroll additional subjects at both low and higher doses [1][2][14] - Interim results for the first two subjects treated with BB-301 showed significant reductions in dysphagic deficits after 9 and 6 months of treatment, with no severe adverse events reported [6][7] - The company will present an interim study update at the 2025 Muscular Dystrophy Association Clinical & Scientific Conference on March 19, 2025 [1][14] Financial Performance - Total revenues for the quarter ended December 31, 2024, were $0.0 million, consistent with the same quarter in 2023 [9] - Research and development expenses remained stable at $5.1 million, while general and administrative expenses rose to $3.5 million from $1.8 million year-over-year [10] - The net loss attributable to shareholders for the quarter was $7.4 million, or $(0.33) per share, compared to a net loss of $6.8 million, or $(2.64) per share, in the prior year [11][17] Company Overview - Benitec Biopharma Inc. focuses on developing novel genetic medicines using its proprietary "Silence and Replace" DNA-directed RNA interference platform, targeting chronic and life-threatening conditions like OPMD [20] - BB-301 is designed to silence the expression of faulty mutant PABPN1 while providing a functional replacement protein, representing a unique approach to treating OPMD [19]

Core Insights - Benitec Biopharma Inc. announced the acceptance of a late-breaking oral abstract for the BB-301 Phase 1b/2a Clinical Treatment Study, focusing on subjects with Oculopharyngeal Muscular Dystrophy (OPMD) and moderate dysphagia, to be presented at the 2025 Muscular Dystrophy Association Clinical & Scientific Conference on March 19, 2025 [1][2][3] Company Overview - Benitec Biopharma is a clinical-stage biotechnology company based in Hayward, California, specializing in gene therapy and developing novel genetic medicines using its proprietary "Silence and Replace" DNA-directed RNA interference (ddRNAi) platform [5] - The company aims to create therapeutics that can silence disease-causing genes while delivering functional replacement genes, targeting chronic and life-threatening conditions such as OPMD [5] Product Details - BB-301 is a modified AAV9 capsid designed to co-express codon-optimized Poly-A Binding Protein Nuclear-1 (PABPN1) and two small inhibitory RNAs (siRNAs) targeting the mutant PABPN1 gene responsible for OPMD [4] - The mechanism of BB-301 aims to halt the expression of the faulty gene while providing a functional version of the protein, which is believed to be uniquely effective for treating OPMD [4]