Business
Aerovate Therapeutics Announces First Quarter Financial Results and Business Highlights
Topline Phase 2b data now expected in the second quarter of 2024 for the IMPAHCT global Phase 2b/Phase 3 clinical trial of AV-101 for pulmonary arterial
About this update from Jade Biosciences, Inc.
[{"type":"text","content":"Topline Phase 2b data now expected in the second quarter of 2024 for the IMPAHCT global Phase 2b/Phase 3 clinical trial of AV-101 for pulmonary arterial hypertension (PAH)More than 100 sites activated in 20 countries with the pace of enrollment increasingSufficiently funded into second half of 2025 WALTHAM, Mass., May 15, 2023 (GLOBE NEWSWIRE) -- Aerovate Therapeutics, Inc. (Nasdaq: AVTE), a clinical stage biopharmaceutical company focused on developing drugs that meaningfully improve the lives of patients with rare cardiopulmonary disease, today announced financial results for the quarter ended March 31, 2023, and recent business highlights. “One of our priorities over the past year was opening clinical trial sites globally, and we have made excellent progress on our stated objective with more than 100 sites currently activated,” said Tim Noyes, Chief Executive Officer of Aerovate. “Patient enrollment has been slower than expected, in part related to post-COVID factors, and based on our current enrollment metrics, we project topline Phase 2b data in the second quarter of 2024. Importantly, clinical investigators and KOLs globally continue to express enthusiasm for AV-101 and our clinical trial, and the pace of enrollment is steadily increasing.” Recent Highlights Progress Continued on the IMPAHCT Global Phase 2b/Phase 3 Clinical Trial, Topline Phase 2b Data Expected in Q2 2024. IMPAHCT (Inhaled iMatinib Pulmonary Arterial Hypertension Clinical Trial) is a Phase 2b/Phase 3 trial of AV-101, our self-administered, twice daily dry powder inhaled formulation of the antiproliferative drug imatinib for the treatment of pulmonary arterial hypertension (PAH), a devastating disease impacting approximately 70,000 people in the United States and Europe. We now have more than 100 clinical sites activated in 20 countries and continue to activate experienced clinical sites to participate in the Phase 2b portion and Phase 3 portion of IMPAHCT. Based on current enrollment metrics, we expect to report topline data from the Phase 2b portion of IMPAHCT in the second quarter of 2024. First Quarter 2023 Financial Results Financial guidance: We expect that our cash, cash equivalents and available-for-sale investments will be sufficient to fund our operations into the second half of 2025, based on our current operating plan. Cash, cash equivalents and...