Aileron Therapeutics(ALRN)2024-11-14 21:08Financial Performance - Aileron Therapeutics reported a net loss of $5.8 million for Q3 2024, compared to a net loss of $1.8 million in Q3 2023, with a net loss per share of $0.27 compared to $0.40 in the prior year[6]. - Total operating expenses for Q3 2024 were $6.1 million, compared to $2.0 million in Q3 2023, reflecting increased R&D and G&A expenses[10]. - General and Administrative (G&A) expenses for Q3 2024 were $2.3 million, up from $2.0 million in Q3 2023, primarily due to increased employee-related expenses[6]. - Aileron's accumulated deficit increased to $310.4 million as of September 30, 2024, compared to $288.5 million at the end of 2023[9]. Research and Development - Research and Development (R&D) expenses for Q3 2024 were $3.7 million, a significant increase from less than $0.1 million in Q3 2023, primarily due to clinical programs acquired from the Lung Acquisition[6]. - Aileron announced positive data from Cohort 2 of the Phase 1b clinical trial of LTI-03, showing dose-dependent effects in five biomarkers, with four biomarkers achieving statistical significance when combined with Cohort 1 data[2][4]. - Aileron plans to initiate a Phase 2 clinical trial for LTI-03, building on the promising results from the Phase 1b trial[1][8]. Cash and Assets - Cash and cash equivalents as of September 30, 2024, were $17.7 million, down from $21.9 million as of June 30, 2024, with expectations to fund operations into June 2025[6]. - The company reported total assets of $104.2 million as of September 30, 2024, down from $106.0 million at the end of 2023[9]. Strategic Agreements - The company entered into an exclusive option agreement with Advancium Health Network for the acquisition of ALRN-6924, which includes potential milestone payments and sales royalties[3].