Apogee Therapeutics Provides Pipeline Progress and Reports Second Quarter 2025 Financial Results

Core Insights - Apogee Therapeutics reported positive results from the 16-week Phase 2 Part A APEX trial for APG777, an anti-IL-13 antibody, which met all primary and key secondary endpoints for moderate-to-severe atopic dermatitis [1][2][3] - The company is advancing its pipeline with ongoing trials, including a Phase 1b head-to-head study of APG279 against DUPIXENT, with results expected in the second half of 2026 [1][2][3] - Apogee has a strong cash position of $621.2 million, which is projected to support operations into Q1 2028 [1][6][8] Pipeline Progress - APG777 demonstrated a 71.0% reduction in the Eczema Area and Severity Index (EASI) from baseline compared to 33.8% for placebo (p < 0.001) in the APEX Part A trial [3][4] - The APEX Part A maintenance phase is testing dosing every 3- and 6-months, potentially allowing for 2-4 injections per year versus 26 for standard care [3][7] - The readout for APEX Part B has been accelerated to mid-2026 due to strong enrollment [1][2][3] Financial Performance - Research and development expenses increased to $55.7 million for Q2 2025, up from $33.2 million in Q2 2024, primarily due to the development of APG777 [6][8] - General and administrative expenses rose to $17.5 million in Q2 2025 from $10.9 million in Q2 2024, driven by increased personnel-related costs [6][8] - The net loss for Q2 2025 was $66.1 million, compared to a net loss of $33.8 million in Q2 2024, reflecting higher operating expenses [8][15]