Barinthus Bio Reports First Quarter 2025 Financial Results and Updates on Corporate Developments

Core Insights - Barinthus Biotherapeutics plc focuses on developing therapies for immunological and inflammatory diseases, with a strategic emphasis on its lead asset, VTP-1000, for celiac disease [2][3] - The company is on track to announce Phase 1 single ascending dose data for VTP-1000 in Q3 2025 and will initiate the multiple ascending dose part of the trial in the second half of 2025 [2][12] - Recent data from Phase 2 trials of VTP-300 for chronic hepatitis B (CHB) show promising results, supporting its potential as a functional cure [3][4][5] Clinical Developments - Data from two Phase 2 trials of VTP-300 will be presented at the EASL Congress 2025, showcasing significant findings from the HBV003 and IM-PROVE II studies [3][4] - The HBV003 study indicated that 33% of participants with HBsAg levels ≤200 IU/mL achieved ≥1 log decline in HBsAg by Day 169 [6] - The IM-PROVE II study demonstrated that 25% of participants receiving a combination therapy achieved functional cure [11] Financial Highlights - For Q1 2025, the company reported a net loss of $19.6 million, or $(0.49) per share, compared to a net loss of $15.5 million, or $(0.40) per share in Q1 2024 [18][22] - Research and development expenses decreased to $8.3 million in Q1 2025 from $11.1 million in Q1 2024, attributed to reduced preclinical activity and workforce [13][22] - As of March 31, 2025, the company had cash and cash equivalents of $100.6 million, expected to fund operations into 2027 [13][20] Corporate Updates - In January 2025, Barinthus Bio announced a strategic refocus on immunology and inflammation, planning to seek partners for VTP-300 after the completion of the ongoing Phase 2b trial [7] - The company aims to leverage its differentiated capabilities in achieving sustained HBsAg loss and functional cure in CHB patients [7] - Upcoming milestones include topline results from the Phase 1 PCA001 trial for prostate cancer (VTP-850) [8]