Benitec Biopharma Releases Second Quarter 2025 Financial Results and Provides Operational Update

Core Insights - Benitec Biopharma Inc. is advancing its BB-301 gene therapy for Oculopharyngeal Muscular Dystrophy (OPMD), with interim clinical study results showing durable improvements in swallowing function for treated subjects [1][2][6] - The company reported no revenues for the second fiscal quarter ended December 31, 2024, while total expenses increased to $8.6 million from$6.9 million in the same quarter of the previous year [9][10] - The company has a cash position of $78.3 million as of December 31, 2024, which includes$39.5 million from warrant exercises [11] Clinical Development - The BB-301 Phase 1b/2a clinical study is ongoing, with five subjects safely treated at the lowest dose, and the company plans to enroll additional subjects at both low and higher doses [1][2][14] - Interim results for the first two subjects treated with BB-301 showed significant reductions in dysphagic deficits after 9 and 6 months of treatment, with no severe adverse events reported [6][7] - The company will present an interim study update at the 2025 Muscular Dystrophy Association Clinical & Scientific Conference on March 19, 2025 [1][14] Financial Performance - Total revenues for the quarter ended December 31, 2024, were $0.0 million, consistent with the same quarter in 2023 [9] - Research and development expenses remained stable at$5.1 million, while general and administrative expenses rose to $3.5 million from$1.8 million year-over-year [10] - The net loss attributable to shareholders for the quarter was $7.4 million, or$(0.33) per share, compared to a net loss of $6.8 million, or$(2.64) per share, in the prior year [11][17] Company Overview - Benitec Biopharma Inc. focuses on developing novel genetic medicines using its proprietary "Silence and Replace" DNA-directed RNA interference platform, targeting chronic and life-threatening conditions like OPMD [20] - BB-301 is designed to silence the expression of faulty mutant PABPN1 while providing a functional replacement protein, representing a unique approach to treating OPMD [19]