ZyVersa Therapeutics Reports Second Quarter, 2024 Financial Results and Provides Business Update

Key Highlights - ZyVersa Therapeutics is on track to begin a Phase 2a clinical trial for Cholesterol Efflux Mediator™ VAR 200 in patients with diabetic kidney disease in H2-2024 [1][4] - The lead indication for Inflammasome ASC Inhibitor IC 100 has been selected as obesity with related metabolic complications, with supportive data from preclinical studies expected in H2-2024 [1][3] - An Investigational New Drug (IND) submission for IC 100 is planned for Q4-2024, followed by a Phase 1 clinical trial expected to start in Q1-2025 [1][4] - The company raised approximately $0.8 million from the exercise of investor warrants [1] Business Update - The Phase 2a clinical trial for VAR 200 is expected to enroll the first patient(s) within the next few months, with initial data read-out anticipated by the end of the year [3][4] - The IND submission for IC 100 is planned for Q4-2024, with a preclinical study in obesity concluding by year-end [4] - ZyVersa has recruited six experts in obesity and related metabolic complications for a scientific advisory board to guide clinical development plans for IC 100 [4] Financial Results - For the quarter ended June 30, 2024, ZyVersa reported net losses of approximately$2.8 million, an improvement of $75.7 million or 96.5$78.5 million for the same period in 2023 [6] - Research and development expenses were $0.7 million, a decrease of$0.5 million or 41.9% from $1.2 million for the same period in 2023 [8] - General and administrative expenses were$2.0 million, a decrease of $1.9 million or 48.0% from the same period in 2023 [9]