Business
Aadi Bioscience Announces Financial Results for the Second Quarter 2023 and Provides Corporate Update
Continued growth in total revenue on FYARRO® with sales of $6.2 million for 2Q 2023 On-track for interim analysis on 40 patients in PRECISION1 trial before
About this update from Whitehawk Therapeutics, Inc.
[{"type":"text","content":"Continued growth in total revenue on FYARRO® with sales of $6.2 million for 2Q 2023 \nOn-track for interim analysis on 40 patients in PRECISION1 trial before the end of 2023\nExpanding pipeline to include programs in Endometrial Cancer and Neuroendocrine Tumors (NETs)\nConference call to be held today at 8:30 am EST\nLOS ANGELES, Aug. 9, 2023 /PRNewswire/ -- Aadi Bioscience, Inc. (NASDAQ: AADI), a biopharmaceutical company focused on developing and commercializing precision therapies for genetically defined cancers with alterations in mTOR pathway genes, today provided a corporate update and announced financial results for the second quarter of 2023.\n\"We are seeing continued growth in FYARRO sales and are pleased with the positive feedback we are receiving from the treatment community,\" said Scott Giacobello, Interim CEO and President and CFO of Aadi. \"The PRECISION1 trial is progressing well, and we are looking forward to providing results of an interim analysis on 40 patients with appropriate follow-up before the end of the year. We expect to complete enrollment as planned in the spring of 2024.\"\n\"With PRECISION1 on track, we are excited to announce the expansion of our pipeline to further investigate mTOR pathway inhibition in endometrial cancer and NETs,\" continued Giacobello. \"We are encouraged by the positive feedback received from clinicians, and we believe our preclinical data supporting these programs is promising. We look forward to harnessing the unique pharmacology of nab-sirolimus, both in combination and as monotherapy, to provide enhanced therapeutic benefit in these indications with meaningful patient populations and high unmet need.\" \nSecond Quarter 2023 Updates and Recent Operational Highlights \nInterim analysis from PRECISION1 expected before the end of 2023. An interim analysis from the tumor agnostic PRECISION1 trial on 40 patients with appropriate follow-up is on track with data expected before the end of 2023. Enrollment continues to be well-balanced between the two arms, and as previously reported, more than 15 discrete tumor types have been enrolled, supporting the thesis that TSC1 and TSC2 alterations occur broadly across different solid tumors.FYARRO net product sales were $6.2 million in the second quarter, reflecting growth of approximately 6% over Q1 2023 and 80% over the prior year quar...