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Climb Bio Reports First Quarter 2025 Financial Results and Provides Business Updates
Climb Bio, IncClimb Bio, Inc(US:CLYM) GlobeNewswire News Roomยท2025-05-14 11:00

Core Insights - Climb Bio, Inc. is progressing towards initiating clinical trials for its lead product, budoprutug, targeting immune-mediated diseases, with trials expected to start in 2025 [1][2][3] - The company has a strong financial position, with cash reserves expected to last through 2027 [1][6] Clinical Development - Budoprutug, an anti-CD19 monoclonal antibody, is set to enter clinical studies for immune thrombocytopenia (ITP) and systemic lupus erythematosus (SLE) soon, with primary membranous nephropathy (pMN) trials expected in the second half of 2025 [2][3] - The FDA has granted clearance for Phase 2 trials of budoprutug in pMN and Phase 1b/2a trials in ITP, with plans for regulatory clearance for SLE trials outside the U.S. [3][4] - CLYM116, an anti-APRIL monoclonal antibody, is also in development, with preclinical data expected in the second half of 2025 and an IND submission anticipated by year-end [2][3][4] Financial Performance - As of March 31, 2025, the company reported cash, cash equivalents, and marketable securities totaling $197.8 million, down from $212.5 million at the end of 2024 [6][13] - Research and development expenses for Q1 2025 were $17.3 million, significantly higher than $1.1 million in Q1 2024, reflecting increased investment in clinical trials [6][13] - General and administrative expenses also rose to $5.7 million in Q1 2025 from $1.9 million in the same period last year [6][13] Leadership Changes - The company appointed Kim Cobleigh Drapkin and Bo Cumbo as independent directors, and Perrin Wilson, Ph.D., as Chief Business Officer, enhancing its leadership team with experienced professionals in biotechnology [1][9]