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Exhibit 99.1
Aeglea BioTherapeutics Reports Fourth Quarter and Full Year 2020 Financial Results and Corporate Highlights
Phase 3 PEACE Study Enrollment Expected to Complete in March; Topline Data Expected in Fourth Quarter
Received U.S. Rare Pediatric Disease Designation for AGLE-177 for the Treatment of Homocystinuria,
Eligible for Priority Review Voucher
Austin, Texas, March 18, 2021 -
“2020 was a challenging year advancing our clinical trials and at the same time prioritizing the health and well-being of the rare disease patients we serve, who often have additional difficulties and vulnerabilities,” said Anthony Quinn, M.B Ch.B, Ph.D., president and chief executive officer of Aeglea. “We have been focused on mitigating the impact of COVID-19 on our clinical timelines and I’m proud of the work the team has done to put patient needs first while also advancing a broad range of other impactful activities, as seen with the regulatory designations received for AGLE-177, our continuous gains in Arginase 1 Deficiency patient identification and the buildout of our commercial organization.”
Dr. Quinn continued, “With enrollment completion expected this month and data expected in the fourth quarter for our pivotal Phase 3 PEACE study of pegzilarginase in Arginase 1 Deficiency, and the potential for first-in-human data from our AGLE-177 Phase 1/2 clinical trial in Homocystinuria, 2021 is shaping up to be a transformational year and we are well positioned to evolve into a successful commercial-stage company.”
Recent Highlights and Updates
Pegzilarginase in Arginase 1 Deficiency
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As of mid-March, 24 patients have been enrolled and randomized in the pivotal Phase 3 PEACE clinical trial. An additional nine patients are in active screening or scheduled to begin screening in the next two weeks. Trial enrollment is expected to close in March, with completion of screening and all patients randomized by the end of April. Topline data is expected in the fourth quarter of 2021. |
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As of January, Aeglea has identified over 300 Arginase 1 Deficiency patients in addressable markets. The number of currently identified patients represents approximately 65% and 30% of the estimated genetic prevalence populations in the U.S. and EU4 plus the UK, respectively. |
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At the 2021 JP Morgan Healthcare Conference, Aeglea provided an update on the safety profile of pegzilarginase. As of September 2020, more than 1,350 doses had been administered in the Phase 1/2 clinical trial and Phase 2 open-label extension study. |
AGLE-177 in Homocystinuria
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In December 2020, Aeglea announced the U.S. Food and Drug Administration (FDA) granted Rare Pediatric Disease Designation to AGLE-177 for the treatment of Homocystinuria. If AGLE-177 is approved by the FDA, the company will be eligible to receive a Priority Review Voucher. |
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In January, Aeglea announced it will be adding clinical trial sites in Australia for its Phase 1/2 clinical trial. |
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In January, the Company presented the results of an analysis which determined the Classical Homocystinuria (CBS deficiency) population in global addressable markets may exceed 30,000 patients, with an estimated 15,000-18,000 of those patients to be non-responsive to the existing standard of care. |
Corporate
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Aeglea expanded the Company’s Board of Directors to include two new members. Alison Lawton, who previously served as president and CEO of Kaleido Biosciences, was appointed in December 2020. Sara Brownstein, a principal at Baker Bros. Advisors LP, was appointed in February 2021. |
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Aeglea Biotherapeutics, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:
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In July 2020, we filed a new shelf registration statement on Form S-3 that was declared effective by the SEC for the potential offering, issuance and sale by us of up to $400.0 million of our common stock, preferred stock, debt securities, warrants to purchase common stock, preferred stock and debt securities, subscription rights to purchase common stock and units consisting of all or some of these securities.
The shares of common stock and pre-funded warrants sold in the 2020 Public Offering were pursuant to a shelf registration statement on Form S-3, declared effective in February 2019 by the SEC for the potential offering, issuance and sale by us of up to $200.0 million of our common stock, warrants to purchase common stock, and other security types and subscription rights.
During the year ended December 31, 2019, we raised $69.0 million of gross proceeds from the sale of 4,625,000 shares of common stock and pre-funded warrants to purchase up to 4,000,000 shares of common stock in an underwritten public offering, resulting in net proceeds of $64.5 million after deducing underwriting discounts, commissions, and offering costs.
The decrease in interest income to $0.6 million for the year ended December 31, 2020 from $2.1 million for the year ended December 31, 2019 was primarily due to decreasing yield rates during the year ended December 31, 2020 as compared to the prior year.
The increase in general and administrative expenses was primarily due to a $2.6 million increase in compensation and other personnel expenses, including $1.0 million in non-cash stock compensation, driven by additional headcount to develop our commercial team and support, $2.5 million of expenses related to professional service and legal costs primarily to support the ramp up of our commercial capabilities, and $0.8 million in facility-related expenses driven by additional office space to support company growth.
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Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
Aeglea Biotherapeutics, Inc. provided additional information to their SEC Filing as exhibits
Ticker: AGLE
CIK: 1636282
Form Type: 10-K Annual Report
Accession Number: 0001564590-21-014021
Submitted to the SEC: Thu Mar 18 2021 8:34:37 AM EST
Accepted by the SEC: Thu Mar 18 2021
Period: Thursday, December 31, 2020
Industry: Pharmaceutical Preparations