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Aerovate Therapeutics Announces Third Quarter 2022 Financial Results
WALTHAM, Mass., Nov. 14, 2022 (GLOBE NEWSWIRE) -- Aerovate Therapeutics, Inc. (Nasdaq: AVTE), a clinical stage biopharmaceutical company focused on developing
About this update from Jade Biosciences, Inc.
[{"type":"text","content":"WALTHAM, Mass., Nov. 14, 2022 (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 September 30, 2022, and recent business highlights. Recent Highlights Progress Continued for IMPAHCT Global Phase 2b/Phase 3 Clinical TrialPresented IMPAHCT at CHESTExpanded Intellectual Property PortfolioManagement Team Strengthened Progress Continued for 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 dry powder inhaled formulation of the anti-proliferative drug imatinib for the treatment of pulmonary arterial hypertension (PAH), a devastating disease impacting approximately 70,000 people in the United States and Europe. While we have experienced delays in site initiation and patient enrollment, progress continued for our IMPAHCT trial with additional clinical site activations and 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. Presented IMPAHCT Clinical Trial Design at CHEST. The IMPAHCT trial design was presented at the American College of Chest Physicians Annual Meeting (CHEST) in a poster session on October 18, 2022. The adaptive, seamless trial design for our Phase 2b/Phase 3 trial allows for continuous enrollment across phases and a more efficient drug development timeline. Expanded Intellectual Property Portfolio. We continued expanding our intellectual property portfolio with a third and fourth issued patent in the U.S. since our last quarterly filing. The United States Patent and Trademark Office issued Patent 11,413,289 and Patent 11,464,776 to Aerovate and we have received a notice of allowance for another patent. We continue prosecuting multiple additional applications to cover our product globally. Management Team Strengthened. Sanjeev Khindri joined our leadership team as Senior Vice President, Clinical Development. Dr. Khindri has more than 15 years of experience as a clinical trialist and leader across all stages of clinical development in respiratory medicine including experience in rare diseases suc...