Business
Satellos Reports 2024 Financial Results and Highlights Company Progress
– Completed enrollment and dosing in a Phase 1a clinical trial in 72 healthy volunteer...
About this update from Satellos Bioscience Inc
[{"type":"text","content":"Satellos Reports 2024 Financial Results and Highlights Company Progress\n\n\n .bwlistcircle { list-style-type: circle }\n.bwlistdisc { list-style-type: disc }\n \n\n\n\n –\n \n\n Completed enrollment and dosing in a Phase 1a clinical trial in 72 healthy volunteers to assess safety and pharmacokinetic (PK) properties of SAT-3247\n \n\n\n\n –\n \n\n Presented initial Phase 1a data at Muscular Dystrophy Association (MDA) Clinical & Scientific Conference showing SAT-3247 was safe, well-tolerated and showed the intended PK profile after both single- and repeated-dose administration\n \n\n\n\n –\n \n\n Initiated enrollment in a Phase 1b clinical trial in up to 10 adults with Duchenne muscular dystrophy (DMD) with data expected to be reported in Q2 2025\n \n\n\n\n –\n \n\n Cash balance of $69.9 million as of December 31, 2024\n \n\n\n\n\n\n\n Satellos Bioscience Inc. (TSX: MSCL, OTCQB: MSCLF)\n \n (“\n \n Satellos\n \n ” or the “\n \n Company\n \n ”), a clinical-stage biotechnology company developing life-improving medicines to treat degenerative muscle diseases, announced today its financial results and corporate highlights for the fourth quarter ended December 31, 2024. All references to currency in this press release are in Canadian dollars unless otherwise noted.\n \n\n “The fourth quarter and 2024 were pivotal for clinical trial execution and advancement of SAT-3247, setting the stage for a promising 2025,” said Frank Gleeson, Co-founder and Chief Executive Officer. “Most importantly, we recently reported encouraging Phase 1a data that supports SAT-3247 as a potential first-of-its-kind oral therapy for DMD. We believe this progress brings us one step closer to our goal of delivering life improving medicines for individuals with degenerative muscle diseases.”\n \n\n\n SAT-3247 CLINICAL PROGRESS\n \n\n\n\n On Dec. 11, 2024, Satellos dosed the first DMD patient in its Phase 1b trial of SAT-3247. Up to 10 DMD adult patients will be enrolled. Satellos expects to report Phase 1b data in Q2, 2025.\n \n\n Satellos announced initial Phase 1a data for SAT-3247 at the MDA Clinical & Scientific Conference in March.\n \n\n As of the Feb. 20, 2025, data cut-off, SAT-3247 was shown to be safe and well tolerated across all cohorts, with no moderate or seve...