Please wait while we load the requested 10-Q report or click the link below:
Eidos Therapeutics Reports Second Quarter 2020 Financial Results and Business Update
SAN FRANCISCO, August 6, 2020 —Eidos Therapeutics, Inc. (Eidos) (Nasdaq:EIDX), today reported its financial results for the second quarter ended June 30, 2020 and provided an update on the company’s operations.
“While the COVID-19 pandemic poses an unpredictable threat to our clinical development program, our team continues to work tirelessly with the ATTR patient community, our investigators and collaborators, and regulators to ensure the progression and integrity of our trials,” said Neil Kumar, PhD, chief executive officer of Eidos. “Though the situation is far from resolved, we are incredibly grateful to these groups for their commitment to our program and are encouraged to have observed a re-opening of clinical research activities worldwide in recent months. The determination and resilience of this community inspires our efforts to develop acoramidis (formerly AG10) as a potentially best-in-class treatment option for ATTR patients.”
Acoramidis selected as non-proprietary name for AG10
The International Nonproprietary Naming Committee of the World Health Organization (WHO) has selected acoramidis (pronounced “a kor am' i dis”) as the proposed International Nonproprietary Name, or pINN, for the company’s lead product candidate, AG10. The established suffix “-amidis” was utilized to convey the molecule’s proposed mode of action to inhibit amyloid deposition.
WHO’s INN Expert Group assigns simple, informative and unique nonproprietary names for drugs to allow for clear communication among health professionals and to identify chemical/pharmacological relationships. Eidos will use “acoramidis” in upcoming presentations, publications and public statements as the company continues progressing toward commercialization of the product.
Update on Company Operations
The Company expects enrollment of patients in its Phase 3 clinical trial of acoramidis in ATTR-CM patients (ATTRibute-CM) to be completed in the first half of 2021 and the Company plans to initiate a Phase 3 study of acoramidis in ATTR-PN (ATTRibute-PN) in the second half of 2020.
Second Quarter 2020 Financial and Operating Results
Cash and cash equivalents totaled $174.8 million at June 30, 2020 compared with $191.2 million at December 31, 2019.
Eidos reported a net loss attributable to common stockholders of approximately $28.8 million or $0.76 per common share, for the second quarter of 2020, as compared to a net loss attributable to common stockholders of $14.1 million or $0.39 per common share, for the second quarter of 2019. The increase in net loss attributable to common stockholders was driven primarily by research and development expenses related to acoramidis (formerly AG10) clinical trials and other pre-clinical studies, and general and administrative expenses for operations.
Research and development expenses for the second quarter of 2020 were $17.9 million, as compared to $12.5 million for the same period in the prior year. Research and development expenses for the second quarter included costs related to contract manufacturing and the preparation for and conduct of clinical trials of acoramidis.
General and administrative expenses for the second quarter of 2020 were $10.3 million, as compared to $2.3 million for the same period in the prior year. The increase in general and administrative expense in the second
The following information was filed by Eidos Therapeutics, Inc. (EIDX) on Thursday, August 6, 2020 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.
View differences made from one quarter to another to evaluate Eidos Therapeutics, Inc.'s financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were
removed , and by Eidos Therapeutics, Inc..