Financial Performance - Net loss for 2024 was $94,260,000, up from $72,891,000 in 2023, indicating a 29.2% increase in losses[16] - The net loss for Q4 2024 was $25.6 million, compared to a net loss of $31.4 million in Q4 2023, reflecting a 18% improvement[10] - The operating loss for Q4 2024 was $29.6 million, a decrease of 13% from $34.2 million in Q4 2023[9] - Net loss per share attributable to common shareholders improved to $(1.68) in 2024 from $(2.42) in 2023[16] - The net loss per share for Q4 2024 was $0.44, down from $0.86 per share in Q4 2023, representing a 49% reduction[11] Cash and Investments - As of December 31, 2024, Astria had cash, cash equivalents, and short-term investments of $328.1 million, up from $246.5 million as of December 31, 2023, indicating a 33% increase year-over-year[6] - Cash and cash equivalents decreased to $59,820,000 in 2024 from $175,530,000 in 2023, a decline of 66.0%[18] - Net cash used in operating activities was $(81,212,000) in 2024, compared to $(68,445,000) in 2023, representing a 18.5% increase in cash outflow[20] - Net cash provided by financing activities rose to $157,202,000 in 2024 from $88,398,000 in 2023, an increase of 77.8%[20] Operating Expenses - Total operating expenses for 2024 increased to $111,558,000 from $83,030,000 in 2023, representing a 34.5% increase[16] - Research and development expenses for Q4 2024 were $20.2 million, a 73% increase from $11.7 million in Q4 2023, driven by external expenses for clinical trials[7] - Research and development expenses rose significantly to $77,106,000 in 2024, compared to $42,127,000 in 2023, marking a 83.1% increase[16] - General and administrative expenses for Q4 2024 were $9.4 million, up 29% from $7.3 million in Q4 2023, attributed to stock-based compensation and company growth[8] Assets and Liabilities - Total assets increased to $342,363,000 in 2024, up from $254,666,000 in 2023, reflecting a growth of 34.3%[18] - Total stockholders' equity increased to $319,263,000 in 2024, up from $243,116,000 in 2023, a growth of 31.3%[18] - Total liabilities increased to $23,100,000 in 2024 from $11,550,000 in 2023, a rise of 99.0%[18] Clinical Trials - The ALPHA-ORBIT Phase 3 trial of navenibart commenced in February 2025, with top-line results expected in early 2027, involving up to 135 adult and 10 adolescent patients[3] - Initial efficacy and safety data from the ALPHA-SOLAR long-term extension trial of navenibart are expected in mid-2025[1] - The Phase 1a trial of STAR-0310 is ongoing, with initial results anticipated in Q3 2025, aiming to demonstrate its differentiated profile[2]
Astria Therapeutics(ATXS) - 2024 Q4 - Annual Results