Business
Apogee Highlights Corporate Progress and Reports Second Quarter 2023 Financial Results
$345 million in gross proceeds raised in upsized IPO, providing a projected operating runway into 4Q 2026 Phase 1 clinical trial initiated and first
About this update from Apogee Therapeutics, Inc.
[{"type":"text","content":"$345 million in gross proceeds raised in upsized IPO, providing a projected operating runway into 4Q 2026 Phase 1 clinical trial initiated and first participant dosed ahead of schedule for lead product candidate, APG777, a fully optimized and half-life extended anti-IL-13 antibody for the treatment of atopic dermatitis Leadership further strengthened with appointments of industry leaders to its board of directors and executive team SAN FRANCISCO and WALTHAM, Mass., Aug. 28, 2023 (GLOBE NEWSWIRE) -- Apogee Therapeutics, Inc. (Nasdaq: APGE), a clinical-stage biotechnology company advancing differentiated biologics for the treatment of atopic dermatitis (AD), chronic obstructive pulmonary disease (COPD) and other inflammatory and immunology (I&I) indications, today provided a review of its pipeline of potentially best-in-class monoclonal antibody (mAb) therapies for I&I diseases, along with key anticipated milestones and recent business progress. In addition, Apogee reported second quarter 2023 financial results and provided guidance on its projected operating runway. “We have achieved remarkable growth and progress across all aspects of Apogee’s business in 2023 to date, marked by the important milestones of transitioning to both a publicly traded and clinical-stage company,” said Michael Henderson, M.D., Chief Executive Officer of Apogee. “In the last year we have made noteworthy progress in our mission to develop therapeutic options for patients by advancing novel, potentially best in class antibodies that we believe may significantly improve upon standard of care. Our broad pipeline has the potential to overcome limitations of existing therapies for AD, asthma and COPD. And we have capitalized the company with an upsized IPO consisting of new and existing top tier investors that provides sufficient funding to support our operations through multiple clinical catalysts for our lead programs. We have attracted an incredibly talented and passionate team of industry leaders and experts across our board of directors, R&D and business operations. This is an exciting time for Apogee, and we are confident in our ability to deliver value from our potentially best-in-class therapeutic candidates to benefit patients living with I&I diseases.” Pipeline Highlights and Upcoming Milestones Enrollment advancing in Phase 1 trial of APG777, with ...