Aileron Therapeutics(US:ALRN)2024-05-15 21:16Financial Performance - Aileron Therapeutics reported a net loss of $7.1 million for Q1 2024, compared to a net loss of $4.8 million in Q1 2023, with a net loss per share of $0.86 versus $1.05 in the prior year[7]. - Cash and cash equivalents decreased to $12.0 million as of March 31, 2024, down from $17.3 million at the end of 2023, but are expected to fund operations into the second half of 2025 after a recent financing[6]. - The total assets of Aileron as of March 31, 2024, were $99.2 million, down from $106.0 million at the end of 2023[11]. - The accumulated deficit increased to $295.6 million as of March 31, 2024, compared to $288.5 million at the end of 2023[11]. Expenses - Research and Development (R&D) expenses increased to $3.5 million in Q1 2024, up from $1.8 million in Q1 2023, primarily due to the acquisition of Lung Therapeutics[6]. - General and Administrative (G&A) expenses rose to $3.7 million in Q1 2024, compared to $2.2 million in Q1 2023, largely driven by increased professional fees and employee-related expenses[6]. Clinical Trials - Aileron announced positive data from Cohort 1 of the Phase 1b clinical trial of LTI-03 in idiopathic pulmonary fibrosis (IPF), with statistical significance achieved in three out of eight biomarkers evaluated[2]. - The company expects topline results from Cohort 2 of the Phase 1b study of LTI-03 in Q3 2024[2]. Financing Activities - Aileron closed a direct offering of 4,273,505 shares, raising approximately $20 million in gross proceeds, with potential additional proceeds from warrant exercises[3]. Product Development - Aileron's lead product candidate, LTI-03, is being evaluated for its potential to improve lung function and reverse the course of IPF[8].