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Name | Symbol | Market | Type |
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PureTech Health PLC | NASDAQ:PRTC | NASDAQ | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-1.15 | -3.99% | 27.64 | 25.42 | 56.00 | 27.64 | 27.64 | 27.64 | 193 | 01:00:00 |
Company summarizes third quarter progress across its Wholly Owned Pipeline and Founded Entities
PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) ("PureTech" or the "Company"), a clinical-stage biotherapeutics company dedicated to changing the lives of patients with devastating diseases, today announced that members of the management team will participate in fireside chats at two upcoming investor conferences. Webcasts of the presentations will be available at https://investors.puretechhealth.com.
Jefferies London Healthcare Conference Presenters: Daphne Zohar, Founder and Chief Executive Officer, and Julie Krop, M.D., Chief Medical Officer Date: Wednesday, November 15, 2023
Evercore ISI 6th Annual Healthcare Conference Presenter: Daphne Zohar, Founder and Chief Executive Officer, and Julie Krop, M.D., Chief Medical Officer Date: Wednesday, November 29, 2023
Commenting on the third quarter progress, Daphne Zohar, Founder and Chief Executive Officer of PureTech, said:
“It has been a very productive third quarter across our Wholly Owned Pipeline and Founded Entities, with multiple milestones reached as well as the continued progression toward several more major catalysts by the end of this year.
“Across our Wholly Owned Pipeline, we are looking forward to data from two clinical trials by the end of 2023, including data from the Phase 1b trial of LYT-200 in oncology, and the Phase 2a trial of LYT-300 in a validated clinical model of anxiety.
“Recently, we have been increasing our focus on our central nervous system (CNS) programs, including LYT-300 and LYT-310, that originated from our Glyph™ technology platform. Our increased focus reflects the historic success we’ve had in CNS by enabling drugs with proven human efficacy to realize their full therapeutic potential by applying an innovative solution to a previous limitation. As a result, we have now generated an additional two programs based on our Glyph platform, expanding our CNS pipeline to seven programs.”
“Our increasing focus on this proven strategy for treating brain diseases builds on the success we had with KarXT and we are also pleased to note the important milestone of Karuna’s submission of a New Drug Application to the U.S. Food and Drug Administration (FDA) for KarXT for the treatment of schizophrenia. If approved, KarXT, invented at PureTech, will be the third therapeutic candidate to be taken from inception at PureTech to FDA regulatory approval.
“We plan to provide more guidance on our capital allocation and returns strategy in the fourth quarter. We look forward to another catalyst-rich quarter and continuing to deliver on our mission of changing the lives of patients with devastating diseases.”
Key Highlights & Progress
Wholly Owned Programs
Founded Entities
About PureTech Health
PureTech is a clinical-stage biotherapeutics company dedicated to giving life to new classes of medicine to change the lives of patients with devastating diseases. The Company has created a broad and deep pipeline through its experienced research and development team and its extensive network of scientists, clinicians and industry leaders that is being advanced both internally and through its Founded Entities. PureTech's R&D engine has resulted in the development of 27 therapeutics and therapeutic candidates, including two (Plenity® and EndeavorRx®) that have received both US FDA clearance and European marketing authorization and a third (KarXT) that has been filed for FDA approval. A number of these programs are being advanced by PureTech or its Founded Entities in various indications and stages of clinical development, including registration enabling studies. All of the underlying programs and platforms that resulted in this pipeline of therapeutic candidates were initially identified or discovered and then advanced by the PureTech team through key validation points.
For more information, visit www.puretechhealth.com or connect with us on X, formerly known as Twitter, @puretechh.
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that are or may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation those related to our and our Founded Entities’ plans, future prospects, objectives, developments, strategies and expectations, the progress and timing of clinical trials and data readouts, the timing of potential Investigational New Drug (IND) and NDA submissions, and the timing of regulatory approvals or clearances from the FDA.. The forward-looking statements are based on current expectations and are subject to known and unknown risks, uncertainties and other important factors that could cause actual results, performance and achievements to differ materially from current expectations, including, but not limited to, the following: our history of incurring significant operating losses since our inception; our need for additional funding to achieve our business goals, which may not be available and which may force us to delay, limit or terminate certain of our therapeutic development efforts; our limited information about and limited control or influence over our Non-Controlled Founded Entities; the lengthy and expensive process of preclinical and clinical drug development, which has an uncertain outcome and potential for substantial delays; potential difficulties with enrolling patients in clinical trials, which could delay our clinical development activities; side effects, adverse events or other safety risks which could be associated with our therapeutic candidates and delay or halt their clinical development; our ability to obtain regulatory approval for and commercialize our therapeutic candidates; our ability to realize the benefits of our collaborations, licenses and other arrangements; our ability to maintain and protect our intellectual property rights; our reliance on third parties, including clinical research organizations, clinical investigators and manufacturers; our vulnerability to natural disasters, global economic factors, geo-political actions and unexpected events; and those risks, uncertainties and other important factors described under the caption “Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2022 filed with the SEC and in our other regulatory filings. These forward-looking statements are based on assumptions regarding the present and future business strategies of the Company and the environment in which it will operate in the future. Each forward-looking statement speaks only as at the date of this press release. Except as required by law and regulatory requirements, we disclaim any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231016416382/en/
PureTech Public Relations publicrelations@puretechhealth.com Investor Relations IR@puretechhealth.com
EU media Ben Atwell, Rob Winder +44 (0) 20 3727 1000 ben.atwell@FTIconsulting.com
U.S. media Nichole Sarkis +1 774 278 8273 nichole@tenbridgecommunications.com
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