We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
PhaseBio Pharmaceuticals Inc | NASDAQ:PHAS | 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% | 0.0701 | 0.0645 | 0.0671 | 0 | 01:00:00 |
Received FDA authorization to proceed with “VANGARD” clinical trial to assess the efficacy and safety of PB1046 in hospitalized COVID-19 patients at high risk for rapid clinical deterioration and acute respiratory distress syndrome (ARDS) and commenced dosing of patients
PhaseBio Pharmaceuticals, Inc. (Nasdaq: PHAS), a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapies for cardiovascular and cardiopulmonary diseases, today provided an update on corporate activities and reported second-quarter 2020 financial results.
“Throughout the second quarter of 2020, PhaseBio made substantial progress driving our clinical development programs forward,” said Jonathan P. Mow, Chief Executive Officer of PhaseBio Pharmaceuticals. “We successfully launched and dosed patients in our VANGARD study, a Phase 2 clinical trial evaluating PB1046 for the prevention of development of ARDS in 210 patients hospitalized with COVID-19. Enrollment in the trial is ongoing and we expect to report results by the end of 2020.”
Mow continued, “Building on the momentum from the recent initiation of our pivotal Phase 3 trial for PB2452, our lead product candidate for the reversal of the antiplatelet effects of ticagrelor, we continue to enroll patients despite the COVID-19 pandemic, highlighting the significant unmet medical need for a reversal agent for P2Y12 antagonists such as ticagrelor. While the pandemic has created new challenges, we remain focused on executing on our strategic objectives, enrolling patients in our clinical programs, and delivering impactful medicines to people with unmet medical needs.”
Recent Pipeline and Business Highlights
Second-Quarter 2020 Financial Results
About PhaseBio
PhaseBio Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapies for cardiovascular and cardiopulmonary diseases. The company’s pipeline includes: PB2452, a novel reversal agent for the antiplatelet therapy ticagrelor; PB1046, a once-weekly vasoactive intestinal peptide receptor agonist for the treatment of PAH and hospitalized COVID-19 patients at high risk for rapid clinical deterioration and ARDS; and PB6440, an oral agent for the treatment of resistant hypertension. PhaseBio’s proprietary elastin-like polypeptide technology platform enables the development of therapies with potential for less-frequent dosing and improved pharmacokinetics, including PB1046, and drives both internal and partnership drug-development opportunities.
PhaseBio is located in Malvern, PA, and San Diego, CA. For more information, please visit www.phasebio.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipates,” “believes,” “expects,” “intends,” “projects,” and “future” or similar expressions are intended to identify forward-looking statements.
Forward-looking statements include statements concerning or implying the conduct or timing of our clinical trials and our research, development and regulatory plans for our product candidates, the potential for these product candidates to receive regulatory approval from the FDA or equivalent foreign regulatory agencies, whether, if approved, these product candidates will be successfully distributed and marketed and the success of our collaboration with SFJ, including whether we will receive all of the contemplated funding under the co-development agreement . Forward-looking statements are based on management's current expectations and are subject to various risks and uncertainties that could cause actual results to differ materially and adversely from those expressed or implied by such forward-looking statements. Accordingly, these forward-looking statements do not constitute guarantees of future performance, and you are cautioned not to place undue reliance on these forward-looking statements.
Risks regarding our business are described in detail in our Securities and Exchange Commission (“SEC”) filings, including in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, which we intend to file shortly hereafter. These forward-looking statements speak only as of the date hereof, and PhaseBio Pharmaceuticals, Inc. disclaims any obligation to update these statements except as may be required by law.
PhaseBio Pharmaceuticals, Inc.
Condensed Statements of Operations
(in thousands, except share and per share amounts)
(unaudited)
Three Months Ended June 30,
Six Months Ended June 30,
2020
2019
2020
2019
Revenue:
Grant revenue
$
—
$
203
$
320
$
856
Revenue under collaborative agreement
—
500
—
500
Total revenue
—
703
320
1,356
Operating expenses:
Research and development
20,856
7,781
32,305
13,502
General and administrative
3,242
2,404
6,401
4,720
Total operating expenses
24,098
10,185
38,706
18,222
Loss from operations
(24,098
)
(9,482
)
(38,386
)
(16,866
)
Other (expense) income
(4,044
)
250
(4,661
)
341
Net loss
$
(28,142
)
$
(9,232
)
$
(43,047
)
$
(16,525
)
Net loss per common share, basic and diluted
$
(0.98
)
$
(0.33
)
$
(1.50
)
$
(0.63
)
Weighted average common shares outstanding, basic and diluted
28,805,238
27,932,610
28,789,256
26,224,986
PhaseBio Pharmaceuticals, Inc.
Condensed Balance Sheets
(in thousands)
(unaudited)
June 30, 2020
December 31, 2019
Assets:
Cash and cash equivalents
$
53,025
$
74,025
Other receivables, prepaid expenses and other current assets
10,716
4,798
Property and equipment, net
4,876
1,924
Operating lease right-of-use assets
2,136
1,715
Other non-current assets
57
32
Total assets
$
70,810
$
82,494
Liabilities and stockholders' equity:
Current portion of long-term debt
$
5,015
$
2,378
Accounts payable, accrued expenses and other current liabilities
12,787
6,101
Long-term debt, net
9,768
12,326
Operating lease liabilities, net
1,773
1,508
Development derivative liability
14,686
—
Other long-term liabilities
388
203
Stockholders’ equity
26,393
59,978
Total liabilities and stockholders' equity
$
70,810
$
82,494
View source version on businesswire.com: https://www.businesswire.com/news/home/20200811005796/en/
Investor Contact: John Sharp PhaseBio Pharmaceuticals, Inc. Chief Financial Officer (610) 981-6506 john.sharp@phasebio.com
Media Contact: Will Zasadny Canale Communications, Inc. will@canalecomm.com 619-961-8848
1 Year PhaseBio Pharmaceuticals Chart |
1 Month PhaseBio Pharmaceuticals 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