Business
Aileron Therapeutics Reports Fourth Quarter and Full Year 2020 Financial Results and Provides Business Highlights
2020 marked a year of successful evolution to a chemoprotection oncology company focused on fundamentally transforming the experience of chemotherapy for
About this update from Rein Therapeutics, Inc.
[{"type":"text","content":"2020 marked a year of successful evolution to a chemoprotection oncology company focused on fundamentally transforming the experience of chemotherapy for cancer patients -- Advancing selective chemoprotection via p53 biomarker strategy; 50% of all cancer patients across multiple tumor types have a p53 mutation Achieved clinical proof-of-concept in Phase 1b study of ALRN-6924 in p53-mutated small cell lung cancer (SCLC)Aileron’s strategy is to ultimately pursue a tumor-agnostic indication -- On track to initiate new Phase 1b placebo-controlled trial of ALRN-6924 in patients with advanced p53-mutated non-small cell lung cancer (NSCLC) in second quarter 2021 Planned data readouts: Interim data end of 2021; Topline results mid-2022 -- Aggregate proceeds of $55.7 million from equity fundraises in the first quarter of 2021, together with cash and investments of $13.8 million as of December 31, 2020, expected to support operations into second half of 2023 Strategically investing in CMC, p53 companion diagnostic development and team scale-up to accelerate entry into late-stage development of ALRN-6924 in NSCLC WATERTOWN, Mass., March 24, 2021 (GLOBE NEWSWIRE) -- Aileron Therapeutics (NASDAQ:ALRN), a chemoprotection oncology company focused on fundamentally transforming the experience of chemotherapy for cancer patients, today reported business highlights and financial results for the fourth quarter and year ended December 31, 2020. “In the fourth quarter of 2020, our Phase 1b trial in SCLC showed that ALRN-6924 has the potential for best-in-class protection against thrombocytopenia, neutropenia and anemia in SCLC patients receiving second-line topotecan chemotherapy. Bolstered by these robust proof-of-concept data, we are on the threshold of initiating our first randomized, double-blind placebo-controlled trial with ALRN-6924 to ‘chemoprotect’ patients with NSCLC who are receiving first-line chemotherapy,” said Manuel Aivado, M.D., Ph.D., President and Chief Executive Officer. Dr. Aivado further commented, “Given our significant capital raises in early 2021, we now believe that we have the resources to strategically invest in CMC, p53 companion diagnostic development and team scale-up, with the explicit goal of rapidly advancing ALRN-6924 into late-stage development for NSCLC following the Phase 1b trial. Bringing selective chemoprotect...