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Benitec Biopharma Releases Third Quarter 2024 Financial Results and Provides Operational Update
-Positive Interim Clinical Trial Data for the First Oculopharyngeal Muscular Dystrophy (OPMD) Subject Dosed with BB-301 in the Phase 1b/2a Clinical Treatment
About this update from Benitec Biopharma Inc.
[{"type":"text","content":"-Positive Interim Clinical Trial Data for the First Oculopharyngeal Muscular Dystrophy (OPMD) Subject Dosed with BB-301 in the Phase 1b/2a Clinical Treatment Study Reported in April- -The Second OPMD Subject was Safely Dosed with BB-301 in February- -Additional Interim Clinical Safety Data and Clinical Efficacy Data are Expected for Several Study Subjects in the Second Half of 2024- -23 OPMD Subjects have Enrolled into the OPMD Natural History Study with Multiple Subjects Eligible for Entry into the BB-301 Phase 1b/2a Clinical Treatment Study- -Closed an Oversubscribed Private Placement Financing of $40.0 Million on April 22nd, Cash Runway Extended Through 2025- HAYWARD, Calif., May 13, 2024 (GLOBE NEWSWIRE) -- Benitec Biopharma Inc. (NASDAQ: BNTC) (“Benitec” or “Company”), a clinical-stage, gene therapy-focused, biotechnology company developing novel genetic medicines based on its proprietary “Silence and Replace” DNA-directed RNA interference (“ddRNAi”) platform, today announced financial results for its third fiscal quarter ended March 31, 2024. The Company has filed its quarterly report on Form 10-Q with the U.S. Securities and Exchange Commission. “The interim clinical trial results for the first subject enrolled onto the BB-301 Phase 1b/2a Clinical Treatment Study demonstrated consistent, clinically meaningful improvements in each of the central study endpoints, with significant improvements noted across the radiographic assessments of swallowing and corresponding improvements observed for the key subject-reported outcome measure,” said Jerel A. Banks, M.D., Ph.D., Executive Chairman and Chief Executive Officer of Benitec. \"We look forward to presenting the results of longer-term follow-up for the first study subject, along with the accruing data for additional study subjects, later this year”. “Following the recent financing, Benitec is well-positioned to advance the BB-301 clinical development program through the end of 2025.” Operational Updates On April 18th the Company announced an oversubscribed $40.0 million private investment in public equity (PIPE) financing from the sale of 5,749,152 shares of its common stock at a price per share of $4.80, and, in lieu of shares of common stock, pre-funded warrants to purchase up to an aggregate of 2,584,239 shares of its common stock at a price per pre-funded warrant of $4.799...