We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Akouos Inc | NASDAQ:AKUS | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 13.29 | 16.50 | 14.47 | 0 | 01:00:00 |
“This quarter we advanced our lead programs, AK-OTOF and AK-antiVEGF, toward planned 2022 IND submissions, and we continue to apply our genetic medicines platform to the discovery and research of additional potential therapies for inner ear conditions,” said Manny Simons, Ph.D., M.B.A., co-founder, president, and chief executive officer of Akouos. “We also strengthened our leadership team with the recent appointment of Stacy Price as our chief technical officer. Her extensive operations background, including the build of internal manufacturing capabilities, will be critical as we move our pipeline toward clinical development and ultimately commercialization.”
Pipeline and Business Highlights
Third Quarter 2021 Financial Results
About Akouos
Akouos is a precision genetic medicine company dedicated to developing gene therapies with the potential to restore, improve, and preserve high-acuity physiologic hearing for individuals living with disabling hearing loss worldwide. Leveraging its precision genetic medicine platform that incorporates a proprietary adeno-associated viral (AAV) vector library and a novel delivery approach, Akouos is focused on developing precision therapies for forms of sensorineural hearing loss. Headquartered in Boston, Akouos was founded in 2016 by leaders in the fields of neurotology, genetics, inner ear drug delivery, and AAV gene therapy.
Forward-Looking Statements
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the initiation, plans, and timing of our future clinical trials and our research and development programs, the timing of our IND submissions for AK-OTOF and AK-antiVEGF, and the period over which we believe that our existing cash, cash equivalents and marketable securities will be sufficient to fund our operating expenses. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: our limited operating history; uncertainties inherent in the development of product candidates, including the initiation and completion of nonclinical studies and clinical trials; whether results from nonclinical studies will be predictive of results or success of clinical trials; the timing of and our ability to submit applications for, and obtain and maintain regulatory approvals for, our product candidates; our expectations regarding our regulatory strategy; our ability to fund our operating expenses and capital expenditure requirements with our cash, cash equivalents, and marketable securities; the potential advantages of our product candidates; the rate and degree of market acceptance and clinical utility of our product candidates; our estimates regarding the potential addressable patient population for our product candidates; our commercialization, marketing, and manufacturing capabilities and strategy; our ability to obtain and maintain intellectual property protection for our product candidates; our ability to identify additional products, product candidates, or technologies with significant commercial potential that are consistent with our commercial objectives; the impact of government laws and regulations and any changes in such laws and regulations; risks related to competitive programs; the potential that our internal manufacturing capabilities and/or external manufacturing supply may experience delays; the impact of the COVID-19 pandemic on our business, results of operations, and financial condition; our ability to maintain and establish collaborations or obtain additional funding; and other factors discussed in the “Risk Factors” included in the Company’s Quarterly Report on Form 10-Q for the three months ended June 30, 2021 filed with the Securities and Exchange Commission, and in other filings that the Company makes with the Securities and Exchange Commission in the future. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
Condensed Consolidated Balance Sheet Data (Unaudited)
(in thousands)
September 30, 2021 | December 31, 2020 | |||||
Cash, cash equivalents and marketable securities | $ | 249,658 | $ | 308,010 | ||
Total assets | 297,454 | 333,350 | ||||
Total liabilities | 41,230 | 22,736 | ||||
Total stockholders’ equity | 256,224 | 310,614 |
Condensed Consolidated Statements of Operations and Comprehensive Loss(Unaudited)
(in thousands, except share and per share data)
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||
Operating expenses: | ||||||||||||||||
Research and development | $ | 17,399 | $ | 8,641 | $ | 45,776 | $ | 26,612 | ||||||||
General and administrative | 5,513 | 4,478 | 16,068 | 9,646 | ||||||||||||
Total operating expenses | 22,912 | 13,119 | 61,844 | 36,258 | ||||||||||||
Loss from operations | (22,912 | ) | (13,119 | ) | (61,844 | ) | (36,258 | ) | ||||||||
Other income (expense): | ||||||||||||||||
Interest income | 483 | 21 | 1,546 | 201 | ||||||||||||
Other income (expense), net | (477 | ) | 9 | (1,434 | ) | 5 | ||||||||||
Total other income, net | 6 | 30 | 112 | 206 | ||||||||||||
Net loss | $ | (22,906 | ) | $ | (13,089 | ) | $ | (61,732 | ) | $ | (36,052 | ) | ||||
Net loss per share attributable to common stockholders, basic and diluted | $ | (0.67 | ) | $ | (0.85 | ) | $ | (1.80 | ) | $ | (3.01 | ) | ||||
Weighted‑average common shares outstanding, basic and diluted | 34,436,793 | 15,334,241 | 34,360,274 | 11,991,870 | ||||||||||||
Other comprehensive income (loss): | ||||||||||||||||
Unrealized gain (loss) on marketable securities | (31 | ) | 8 | (26 | ) | 8 | ||||||||||
Total other comprehensive income (loss) | (31 | ) | 8 | (26 | ) | 8 | ||||||||||
Total comprehensive loss | $ | (22,937 | ) | $ | (13,081 | ) | $ | (61,758 | ) | $ | (36,044 | ) | ||||
Contacts
Media:Katie Engleman, 1ABkatie@1abmedia.com
Investors:Courtney Turiano, Stern Investor RelationsCourtney.Turiano@sternir.com
1 Year Akouos Chart |
1 Month Akouos Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions