Barinthus(US:BRNS) Globenewswire·2025-11-07 12:30Core Insights - Barinthus Biotherapeutics plc reported its financial results for Q3 2025, highlighting a net loss of $14.6 million, or $(0.36) per share, an improvement from a net loss of $21.1 million, or $(0.52) per share, in Q2 2025 [11][21] - The company announced a proposed merger with Clywedog Therapeutics, aiming to create a diversified portfolio targeting metabolic and autoimmune diseases, with the transaction expected to close in the first half of 2026 [2][6][7] Recent Corporate Developments - The merger with Clywedog is anticipated to strengthen Barinthus Bio's pipeline and broaden its investor base, with four clinical data milestones expected within 18 months post-transaction [6][7] - The company is actively seeking partners for its VTP-300 program in chronic hepatitis B and VTP-850 program in prostate cancer [7] Financial Highlights - As of September 30, 2025, Barinthus Bio had cash and cash equivalents of $75.7 million, down from $87.8 million as of June 30, 2025, primarily due to operating expenses [7][11] - Research and development expenses decreased to $5.4 million in Q3 2025 from $8.0 million in Q2 2025, attributed to reduced activity in infectious disease and oncology programs [8][11] - General and administrative expenses were $5.2 million for Q3 2025, significantly lower than $15.4 million in Q2 2025, mainly due to reduced unrealized losses on foreign exchange [11][21] Clinical Developments and Upcoming Milestones - The single ascending dose data readout for VTP-1000 is expected before the end of 2025, with enrollment in the multiple ascending dose part of the AVALON trial ongoing [6][7] - The company anticipates that research and development expenses related to autoimmune programs will continue at current levels or increase as clinical development progresses [8]