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]

Product Development - Benitec Biopharma is developing BB-301, an AAV-based gene therapy for Oculopharyngeal Muscular Dystrophy (OPMD), which has received Orphan Drug Designation in both the United States and the European Union[145]. - The silence and replace approach aims to permanently silence disease-causing genes while simultaneously replacing them with wildtype genes, potentially improving treatment outcomes for patients[145]. - The company plans to utilize its proprietary ddRNAi technology to achieve sustained gene silencing and gene replacement, which may reduce the frequency of drug administration traditionally required for chronic disease management[120]. - The proprietary AAV vector technology enhances the endosomal escape capability of the virus, broadening its application in AAV-based gene therapies[149]. - The silence and replace technology is designed to chronically express RNAi molecules and restore native intracellular biological processes following a single administration[138]. - BB-301 is a first-in-class genetic medicine utilizing a "silence and replace" approach for treating OPMD, targeting the PABPN1 gene mutation[154]. - BB-301's mechanism of action involves the simultaneous expression of a codon-optimized, siRNA-resistant version of the wild type PABPN1 gene alongside shmiRs targeting both mutant and wild type forms[161]. - The BB-301 clinical development program includes a 76-week follow-up with a 6-month pre-treatment observation period and 52 weeks of post-dosing evaluation[186]. Clinical Trials - The first study subject for the BB-301 Phase 1b/2a clinical trial was treated in November 2023, with subsequent subjects treated in February, October, and December 2024[150]. - In the A17 mouse model, a single intramuscular injection of BB-301 resulted in 75% silencing of PABPN1 and 26% replacement of wild type PABPN1 activity, leading to full restoration of muscle strength[166]. - The BB-301 Pilot Dosing Study in Beagle dogs confirmed transduction efficiency with an average of 5.12 copies per cell in hypopharyngeal muscle and 5.66 copies per cell in thyropharyngeal muscle at the highest dose[177]. - The BB-301 Pilot Dosing Study was designed to evaluate safety and biological activity across three distinct doses, confirming the method's efficacy for OPMD treatment[172]. - BB-301 demonstrated an average of 83% inhibition of wtPABPN1 in hypopharyngeal muscle and 82% in thyropharyngeal muscle at high volume dosing[183]. - Following methodological improvements, BB-301 transduction in HP muscle improved by 248-fold (+24,650%) and in TP muscle by 111-fold (+11,027%) compared to previous studies[184]. - Subject 1 showed a 35% reduction in SSQ Total Score and a 33% reduction in VFSS TPR after 270 days post-BB-301 treatment[191]. - Subject 2 experienced an 89% reduction in SSQ Total Score and a 92% reduction in low-volume sequential swallows after 180 days post-BB-301 treatment[193]. - As of January 2024, 23 subjects had enrolled in the NH study, with no significant adverse events reported for the lowest dose of BB-301[188]. - The primary endpoint of the Phase 1b/2a study is safety, with secondary endpoints assessing swallowing efficiency and muscle function[188]. Financial Overview - Benitec requires additional financing to advance its product candidates through key inflection points, including the Phase 1b/2a BB-301 treatment study[121]. - The company closed a public offering on August 11, 2023, raising net proceeds of approximately $27.9 million from the sale of 875,949 shares of common stock and warrants[215]. - As of December 31, 2024, the company reported accumulated losses of $203 million and cash and cash equivalents of approximately $78.3 million[232][234]. - Research and development expenses for the three months ended December 31, 2024, were $5.1 million, a slight decrease from $5.1 million in the same period in 2023[228]. - General and administrative expenses increased to $3.5 million for the three months ended December 31, 2024, compared to $1.8 million for the same period in 2023, primarily due to increased share-based compensation[229]. - The company did not generate any revenues from product sales during the three and six months ended December 31, 2024, and December 31, 2023[219]. - The company incurred total operating expenses of $8.6 million for the three months ended December 31, 2024, compared to $6.9 million for the same period in 2023[227]. - The company reported a total other income of $1.3 million for the three months ended December 31, 2024, compared to $129,000 for the same period in 2023, driven by gains on extinguishment of liabilities[231]. - The company anticipates an increase in general and administrative expenses due to compliance with SEC requirements and other related costs[224]. - The company has no borrowings as of December 31, 2024, and does not currently have a credit facility[233]. - Net cash used in operating activities for the six months ended December 31, 2024, was $12.3 million, compared to $9.9 million in 2023, primarily due to net loss and changes in working capital[236]. - Net cash used in investing activities was $12 thousand for the six months ended December 31, 2024, related to the purchase of lab equipment, while there were no investing activities in 2023[237]. - Net cash provided by financing activities increased to $39.5 million in the six months ended December 31, 2024, from $28.0 million in 2023, primarily from the issuance of common stock[238]. - The company does not have any products approved for sale and has not generated revenue from product sales, with no expected significant revenue until regulatory approval is obtained[240]. - The company anticipates continued losses for the foreseeable future as it develops product candidates and prepares for commercialization, estimating cash and cash equivalents will fund operations for at least the next twelve months[241]. - Future funding requirements will depend on various factors, including clinical trial costs, regulatory approvals, and potential collaborations[242]. Strategic Partnerships and Intellectual Property - The company aims to explore partnerships with global biopharmaceutical companies to co-develop and commercialize its ddRNAi-based products[142]. - Benitec's intellectual property portfolio is expected to protect its technologies and product candidates through at least 2036, with potential extensions to 2040[149]. - The company is actively seeking licensing partners for its ddRNAi technology but cannot guarantee successful arrangements or terms[239]. - The company has collaborated with leading experts in medicine and surgery for the development and execution of the BB-301 studies[172]. - The company is exploring long-term manufacturing alliances to support future commercialization efforts for its gene therapy products[198]. Market and Competition - The biopharmaceutical industry is characterized by intense competition, with potential competitors having greater resources and experience in product development and commercialization[203]. - The company entered into a Sales Agreement on October 11, 2024, allowing for the sale of up to $75 million of common stock through at-the-market offerings[218]. - The company records research and development expenses primarily related to clinical and preclinical trials, with significant judgments made in estimating accrued liabilities[248]. - The company adopted ASU 2016-13 effective July 1, 2023, which requires immediate recognition of expected credit losses, with an immaterial impact on financial statements[251].

Core Viewpoint - Benitec Biopharma Inc. is actively participating in several upcoming conferences to showcase its advancements in gene therapy and its proprietary "Silence and Replace" platform [1][2]. Group 1: Upcoming Conferences - Benitec will participate in the Muscular Dystrophy Association Gene Therapy Summit from January 28 to 30, 2025, in Tucson, AZ [2]. - The company will also attend the Guggenheim SMID Cap Biotech Conference on February 5, 2025, in New York, NY, which will include 1x1 meetings [2]. - Additionally, Benitec will present at the Oppenheimer 35th Annual Healthcare Life Sciences Conference on February 12, 2025, at 2:00 PM EST, with a format that includes both a presentation and 1x1 meetings [2]. Group 2: Company Overview - Benitec Biopharma Inc. is a clinical-stage biotechnology company based in Hayward, California, focusing on novel genetic medicines [4]. - The company utilizes its proprietary "Silence and Replace" DNA-directed RNA interference platform, which combines RNA interference with gene therapy to target disease-causing genes while delivering wildtype replacement genes [4]. - Benitec is developing therapeutics based on this platform for chronic and life-threatening conditions, including Oculopharyngeal Muscular Dystrophy (OPMD) [4].

Company Insights - Benitec Biopharma Inc. (BNTC) is currently experiencing solid earnings estimate revision activity, indicating a positive outlook from analysts [1][3] - Over the past month, current quarter estimates for Benitec Biopharma have improved from a loss of $1.25 per share to a loss of $1.00 per share, while current year estimates have risen from a loss of $4.33 per share to a loss of $3.58 per share [4] - The company has earned a Zacks Rank 2 (Buy), highlighting its strong position in the market [4] Industry Overview - The Medical - Biomedical and Genetics industry has a Zacks Industry Rank of 63 out of more than 250 industries, indicating a favorable position compared to other segments [2] - The overall positive trends in the industry suggest that a rising tide may benefit multiple securities within this segment [2][5] - Benitec Biopharma is positioned well within a strong industry, making it an intriguing choice for investors [5]

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Exhibit 99.1 Benitec Biopharma Releases First Quarter 2025 Financial Results and Provides Operational Update -Positive 270-day Interim Clinical Study Data for the First Subject and Positive 180-day Interim Clinical Study Data for the Second Subject Treated with the Low-Dose of BB-301 in the Phase 1b/2a Clinical Treatment Study Reported in October as a Late-Breaking Oral Presentation at the 29th Annual Congress of the World Muscle Society- -Third Subject Safely Treated with the Low-Dose of BB-301 in October ...

Table of Contents Title of each classTrading Symbol(s)Name of each exchange on which registered Common Stock, par value $0.0001 BNTC The Nasdaq Stock Market LLC UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period f ...

-Positive 270-day Interim Clinical Study Data for the First Subject and Positive 180-day Interim Clinical Study Data for the Second Subject Treated with the Low-Dose of BB-301 in the Phase 1b/2a Clinical Treatment Study Reported in October as a Late-Breaking Oral Presentation at the 29th Annual Congress of the World Muscle Society- -Third Subject Safely Treated with the Low-Dose of BB-301 in October 2024, and Fourth Subject Expected to Receive Treatment with the Low-Dose of BB-301 in December 2024 HAYWARD, ...