Aileron Therapeutics(US:ALRN)2024-08-14 21:23Financial Performance - Aileron Therapeutics reported a net loss of $8.9 million for Q2 2024, compared to a net loss of $1.8 million in Q2 2023, with a net loss per share of $0.45 versus $0.39 in the prior year[6]. - Cash and cash equivalents as of June 30, 2024, were $21.9 million, up from $12.0 million as of March 31, 2024, providing sufficient funds to support operations into the second half of 2025[5]. - The accumulated deficit as of June 30, 2024, was $304.6 million, up from $288.5 million at the end of 2023[10]. Expenses - Research and Development expenses for Q2 2024 were $3.7 million, a significant increase from $0.2 million in Q2 2023, primarily due to clinical programs from the acquisition of Lung Therapeutics, Inc.[5]. - General and Administrative expenses rose to $5.3 million in Q2 2024 from $1.9 million in Q2 2023, driven by increased professional fees and employee-related expenses[5]. Clinical Trials - The ongoing Phase 1b clinical trial of LTI-03 showed positive trends in seven out of eight biomarkers, with statistical significance achieved in three biomarkers[4]. - Topline results from Cohort 2 of the Phase 1b trial for high-dose LTI-03 (5 mg BID) are expected in Q3 2024[2]. Funding and Assets - Aileron raised approximately $18.2 million in net proceeds from a registered direct offering in May 2024, with potential additional proceeds of $20.0 million from warrant exercises[3]. - The company’s total assets increased to $109.4 million as of June 30, 2024, compared to $106.0 million at the end of 2023[10]. Product Development - Aileron is developing LTI-01 for loculated pleural effusion, which has received Orphan Drug Designation in the US and EU[7].