Business
Aerovate Therapeutics Announces Full-Year 2022 Financial Results and Business Highlights
Progress continued on the IMPAHCT global Phase 2b/Phase 3 clinical trial of AV-101 for pulmonary arterial hypertension (PAH) Expanded intellectual property
About this update from Jade Biosciences, Inc.
[{"type":"text","content":"Progress continued on the IMPAHCT global Phase 2b/Phase 3 clinical trial of AV-101 for pulmonary arterial hypertension (PAH) Expanded intellectual property portfolio with four issued patents in 2022 Management team strengthened and expanded in 2022 Sufficiently funded into second half of 2025 WALTHAM, Mass., March 29, 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 year ended December 31, 2022, and recent business highlights. “Aerovate had a productive year in 2022 as evidenced by the progress made with our lead pipeline candidate AV-101 and strategic additions to our management team,” said Tim Noyes, Chief Executive Officer of Aerovate. “We believe AV-101, if approved, has the potential to become part of a new standard of care for patients with PAH by directly delivering a novel antiproliferative therapy to the pulmonary vasculature in a way that may offer broad efficacy and a low side effect burden to complement current and future treatment options. With its convenient twice daily dosing and easy-to-use pocket-size inhaler, we are optimistic about the potential of AV-101 to help us deliver on our vision of providing patients with meaningful treatment solutions.” 2022 Highlights Progress Continued on the IMPAHCT Global Phase 2b/Phase 3 Clinical Trial. 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. During 2022, we had additional clinical site activations and additional patients enrolled. We expect to report topline data from the Phase 2b portion of the trial in the fourth quarter of 2023 or first quarter of 2024. Trial Data Published and Presented at Scientific Conferences. The Phase 1 AV-101 results, published in ERJ Open Research and presented at the American Thoracic Society (ATS) International Conference in May, demonstrated AV-101 delivered by dry powder inhalation to healthy adult volunteers ...