Business
Aadi Bioscience Announces Financial Results for the Second Quarter of 2022 and Provides Corporate Update
FYARRO® (nab-sirolimus) net product sales reached $3.4 million for the second quarter of 2022 PRECISION 1 Phase 2 tumor-agnostic registration-directed trial
About this update from Whitehawk Therapeutics, Inc.
[{"type":"text","content":"FYARRO® (nab-sirolimus) net product sales reached $3.4 million for the second quarter of 2022\nPRECISION 1 Phase 2 tumor-agnostic registration-directed trial continues enrollment and rapid site activation at major cancer centers and large community networks; preliminary data expected 1H23\nConference call to be held today at 8:30 am EDT\nLOS ANGELES, Aug. 10, 2022 /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 2022.\n\"We continue to progress in key areas after our first full quarter following FYARRO's launch. We are excited to see FYARRO reaching more patients through continued account adoption and steady growth in overall sales,\" said Neil Desai, Ph.D., Founder, President and Chief Executive Officer of Aadi. \"We are also encouraged by the progress on our tumor agnostic PRECISION 1 trial targeting TSC1 and TSC2 inactivating alterations which continues to ramp up, with activation of additional clinical trial sites and patient enrollment. We anticipate providing preliminary data on a meaningful number of patients in this trial during the first half of 2023. In addition, we continue to evaluate strategies for new clinical indications of nab-sirolimus either as single agent or in combination with other targeted therapies with the potential for new programs as early as 2023.\"\nCorporate Updates for the Second Quarter 2022\nFYARRO net product sales for the three months ended June 30, 2022 were $3.4 million, the first full quarter of sales following the product launch late in the first quarter.A product-specific permanent J-code (J9331) for FYARRO from Centers for Medicare and Medicaid Services (CMS) became effective on July 1, 2022. This code is expected to further facilitate reimbursement for FYARRO.The Company announced its addition to both the U.S. small cap Russell 2000® Index and broad-market Russell 3000® Index at the conclusion of the 2022 Russell indexes annual reconstitution, which captures the 4,000 largest U.S. stocks, ranking them by total market capitalization.Partnerships with prominent next generation sequencing (NGS) providers and leaders in genomic testing a...