Aileron Therapeutics(ALRN) - 2025 Q1 - Quarterly Results

Financial Performance - The net loss for Q1 2025 was $5.5 million, compared to a net loss of $7.1 million in Q1 2024, representing a 22.5% improvement [8]. - The basic and diluted net loss per share for Q1 2025 was $0.25, down from $0.86 in Q1 2024 [8]. - Net loss for the three months ended March 31, 2025, was $5,501,000, an improvement from a net loss of $7,113,000 in the same period of 2024 [14]. - Net cash used in operating activities increased to $6,175,000 in Q1 2025, compared to $5,271,000 in Q1 2024 [14]. - Stock-based compensation expense rose to $264,000 in Q1 2025, compared to $150,000 in Q1 2024 [14]. Cash Position - Cash and cash equivalents as of March 31, 2025, were $7.4 million, down from $12.9 million as of December 31, 2024 [8]. - Cash, cash equivalents, and restricted cash at the end of the period totaled $7,428,000, down from $12,067,000 at the end of Q1 2024 [14]. - The company reported a net decrease in cash, cash equivalents, and restricted cash of $5,437,000 during the period [14]. - Cash and cash equivalents at the end of the period were $7,428,000, compared to $12,042,000 in Q1 2024 [14]. Expenses - Research and Development (R&D) expenses for Q1 2025 were $3.1 million, a decrease of 11.6% from $3.5 million in Q1 2024 [8]. - General and Administrative (G&A) expenses for Q1 2025 were $2.5 million, down 33.3% from $3.7 million in Q1 2024 [8]. - Accounts payable decreased to $238,000 in Q1 2025, down from $966,000 in Q1 2024 [14]. - Other assets showed a significant decrease, with a net change of $(764,000) in Q1 2025 compared to an increase of $1,301,000 in Q1 2024 [14]. Corporate Developments - The RENEW Phase 2 trial of LTI-03 in idiopathic pulmonary fibrosis (IPF) has been initiated, with approximately 120 patients expected to be enrolled in two cohorts [3]. - The company plans to share topline interim data from the RENEW trial in the first half of 2026 [2]. - Rein completed warrant exercise and private placement transactions in April 2025, raising approximately $5.28 million [5]. - Two patents covering the novel formulation and administration methods of LTI-03 were granted on April 22, 2025 [5]. - Rein's common stock began trading under the Nasdaq ticker symbol "RNTX" on January 13, 2025, following a rebranding [5]. Stock Transactions - Proceeds from the issuance of common stock, net of offering costs, amounted to $737,000 in Q1 2025 [14]. - There was a conversion of Series X non-voting convertible preferred stock into common stock shares valued at $44,826,000 in the previous period [14].