Exhibit 99.1

Eidos Therapeutics Reports Second Quarter 2019 Financial Results

 

 

SAN FRANCISCO, August 1, 2019 —

Eidos Therapeutics, Inc. (Eidos) (Nasdaq: EIDX), today reported its financial results for the second quarter ended June 30, 2019 and provided an update on the company’s recent achievements.

 

“We remain focused on executing our Phase 3 program studying AG10 in patients with (TTR) amyloidosis (ATTR),” said Neil Kumar PhD, chief executive officer of Eidos. “Our Phase 3 trial in patients with ATTR cardiomyopathy is now enrolling in both the United States and Europe, and we plan to initiate our Phase 3 trial in patients with ATTR polyneuropathy before the end of the year. We believe that these studies will provide compelling evidence that AG10 could be an effective treatment for patients suffering from this lethal, debilitating disease.”

 

Recent Achievements and Upcoming Milestones

Enrolling Phase 3 study of AG10 in ATTR-CM (ATTRibute-CM)

Published Phase 1 data of AG10 in healthy volunteers in Clinical Pharmacology in Drug Development

Plan to initiate Phase 3 study of AG10 in ATTR-PN (ATTRibute-PN) in the second half of 2019

Plan to present data from the open label extension of the Phase 2 study of AG10 in ATTR-CM in the fourth quarter of 2019

 

Second Quarter Financial Results

 

Cash and cash equivalents totaled $131.4 million at June 30, 2019 compared with $157.1 million at December 31, 2018.

 

Eidos reported a net loss attributable to common stockholders of $14.1 million or $0.39 per common share, for the second quarter of 2019, as compared to a net loss attributable to common stockholders of $11.4 million or $1.40 per common share for the second quarter of 2018. The increase in net loss attributable to common stockholders was driven primarily by research and development expenses related to AG10 clinical trials and other pre-clinical studies, and general and administrative expenses for operations.

Research and development expenses for the second quarter of 2019 were $12.5 million, as compared to $6.2 million for the same period in the prior year. Research and development expenses for the period included costs related to contract manufacturing, and the preparation for, and the increase in, activity related to our clinical trials.

 

General and administrative expenses for the second quarter of 2019 were $2.3 million, as compared to $1.9 million for the same period in the prior year. The increase in general and administrative expense in these periods was due primarily to an increase in professional service fees, salaries and employee-related expense primarily due to an increase in headcount to support the growth of our operations, and other administrative expenses.

 

Six Months Ended June 30, 2019 Financial Results

 

Eidos reported a net loss attributable to common stockholders of $25.8 million or $0.71 per common share, for the six months ended June 30, 2019, as compared to a net loss attributable to common stockholders of $19.3 million or $3.06 per common share for the six months ended June 30, 2018. The increase in net loss attributable to common stockholders was driven primarily by research and development expenses related to AG10 clinical trials and other pre-clinical studies, and general and administrative expenses for operations.


The following information was filed by Eidos Therapeutics, Inc. (EIDX) on Thursday, August 1, 2019 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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