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AGTC Announces Financial Results and Business Update for the Quarter Ended
December 31, 2020
- Company on track to provide multiple data readouts for XLRP and ACHM clinical programs in 2021 and 2022 -
- Net proceeds of approximately $69.2 million from a recent public offering provide cash runway into calendar year 2023 -
- Company to host conference call and webcast today at 8:00 a.m. ET -
GAINESVILLE, Fla., and CAMBRIDGE, Mass., February 11, 2021 Applied Genetic Technologies Corporation (Nasdaq: AGTC), a biotechnology company conducting human clinical trials of adeno-associated virus (AAV)-based gene therapies for the treatment of rare diseases, today announced financial results for the quarter ended December 31, 2020.
We believe that the data generated to date in our XLRP trials continue to give us a leading position in this indication and we are eager to move our Phase 1/2 expansion (Skyline) and Phase 2/3 (Vista) trials forward, said Sue Washer, President and CEO of AGTC. The latest data from our ongoing Phase 1/2 trials in patients with achromatopsia provide the first reported quantitative evidence of improvements in visual sensitivity and provide a path forward to collect additional data and to fully realize the potential of this treatment. Continued progress in our clinical and earlier-stage development efforts is expected to create multiple data milestones, including four important data releases for XLRP and two for achromatopsia over the next two years, while bringing us closer to our goal of developing best-in-class therapies that provide meaningful benefit to patients.
X-linked Retinitis Pigmentosa (XLRP)
In November 2020, the Company reported additional positive data from its Phase 1/2 clinical trial in patients with XLRP that indicated durable improvements observed in visual sensitivity and supportive trends in visual acuity over a wide dose range with a favorable safety profile out to month 12 in two of the dose groups. The Company believes it has a best-in-class product candidate that may provide significant benefit to patients with XLRP. The Company expects to:
Provide 12-month data for Phase 1/2 dose groups 5 and 6 in 2Q 2021;
Provide Skyline trial results from the 3-month masked interim analysis in 4Q 2021;
The following information was filed by Applied Genetic Technologies Corp (AGTC) on Thursday, February 11, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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