Aileron Therapeutics(ALRN) Prnewswire·2024-11-14 21:15Core Insights - Aileron Therapeutics announced promising safety and positive biomarker data from Cohort 2 of the Phase 1b clinical trial of LTI-03 in idiopathic pulmonary fibrosis (IPF) patients, demonstrating dose-dependent effects in five evaluated biomarkers compared to low-dose LTI-03 [1][4] - The combined data set from Cohorts 1 and 2 achieved statistical significance in four out of eight biomarkers evaluated, reinforcing the potential of LTI-03 to improve lung function and reverse disease progression [2][4] - The company is planning a Phase 2 clinical trial following the positive results from the ongoing studies [1][4] Corporate Updates - In October 2024, Aileron entered into an exclusive option agreement with Advancium Health Network for the acquisition of ALRN-6924, a clinical-stage oncology agent, which includes a non-refundable fee and potential milestone payments [3] - The company reported a cash position of 21.9 million as of June 30, 2024, and expects this to fund operations into June 2025 [5] Financial Results - Research and Development (R&D) expenses for Q3 2024 were 0.1 million in Q3 2023, primarily due to clinical programs acquired from the Lung Acquisition [5] - General and Administrative (G&A) expenses for Q3 2024 were 2.0 million in Q3 2023, attributed to increased employee-related expenses and facilities costs [6] - The net loss for Q3 2024 was 1.8 million in Q3 2023, with a basic and diluted net loss per share of $0.27 [6][10] Pipeline Developments - Aileron's lead product candidate, LTI-03, is a novel synthetic peptide targeting alveolar epithelial cell survival and inhibiting profibrotic signaling, having completed a Phase 1b clinical trial for IPF [7] - The company also has a second product candidate, LTI-01, which has completed Phase 1b and Phase 2a clinical trials for loculated pleural effusions and has received Orphan Drug Designation in the US and EU [7]