We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Ambrx Biopharma Inc | NYSE:AMAM | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 10.13 | 0 | 01:00:00 |
Ambrx Biopharma Inc., or Ambrx, (NYSE: AMAM), a clinical stage biopharmaceutical company using an expanded genetic code technology platform to create Engineered Precision Biologics, today provided a corporate update and reported financial results for the full year ended December 31, 2021.
“We have made great progress in advancing our engineered precision biologics and clinical pipeline in recent months. We continue to transition preclinical candidates into the clinic and anticipate submitting another IND to the U.S. FDA in 2022. Ambrx has several potential key milestones coming up in the mid-year and into the second half of this year including initiating two clinical trials of ARX788 for Her2+ breast cancer in the neoadjuvant setting, a single agent and a combination trial with an anti-PD-1 agent, and a clinical trial of ARX305 in renal cell carcinoma (RCC) and other cancers,” commented Feng Tian, Ph.D., Chairman of the Board, President and CEO of Ambrx. “Ambrx has truly positioned itself as a leader in the antibody drug conjugate and precision biologics space, working together with our partners, demonstrating promising data from its ongoing trials. I look forward to furthering our clinical development throughout 2022, bringing value to stakeholders and patients alike.”
2H 2021 and Subsequent Clinical Highlights
2H 2021 and Subsequent Corporate Highlights
Anticipated Near-Term Milestones
Financial Highlights
About Ambrx Biopharma Inc. (Ambrx)
Ambrx is a clinical stage biopharmaceutical company using an expanded genetic code technology platform to discover and develop Engineered Precision Biologics. These include next generation antibody drug conjugates (ADCs), bispecifics, targeted immuno-oncology therapies, novel cytokines to modulate the immune system, and long-acting therapeutic peptides for metabolic and cardiovascular disease. Ambrx is advancing a robust portfolio of clinical and preclinical programs designed to optimize efficacy, safety and ease of use, in multiple therapeutic areas, including its lead product candidate ARX788. In addition, Ambrx has clinical collaborations with multiple partners, for drug candidates generated using Ambrx technology. For more information, please visit www.ambrx.com.
Forward-Looking Statements
This press release includes certain “forward-looking statements” intended to qualify for the “safe harbor” from liability established by the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements may be identified by the words “anticipate,” believe,” “estimate,” “expect,” “intend,” “plan,” “project,” “may,” “will,” “could,” “should,” “seek,” “potential” and similar expressions, and include, without limitation, express or implied statements regarding Ambrx’s beliefs and expectations regarding the advancement and potential benefits of its product candidates, clinical development and strategic plans, and the timing of program updates and milestones related to its product candidates. Forward-looking statements are based on Ambrx’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, those risks and uncertainties associated with: the continuing impact of the COVID-19 pandemic and other public health-related risks and events on Ambrx’s business, operations, strategy, goals and anticipated milestones; Ambrx’s ability to execute on its strategy including with respect to the timing of its R&D efforts, initiation of clinical trials and other anticipated milestones; risks associated with development of novel therapeutics, including potential delays in clinical trials and regulatory submissions and the fact that future clinical trial results may not be consistent with preliminary results or results from prior preclinical studies or clinical trials; Ambrx’s ability to fund operations as anticipated; and the additional risks and uncertainties set forth more fully under the caption “Risk Factors” in Ambrx’s Annual Report on Form 20-F filed with the United States Securities and Exchange Commission (SEC) on April 26, 2022, and elsewhere in Ambrx’s filings and reports with the SEC. Forward-looking statements contained in this press release are made as of this date, and Ambrx undertakes no duty to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law.
AMBRX BIOPHARMA INC
Consolidated Statements of Operations and Comprehensive Loss
(In thousands, except share and per share data)
For the Year Ended December 31,
2021
2020
2019
Revenues
$
7,455
$
13,671
$
10,311
Operating expenses:
Research and development
54,808
20,433
26,383
General and administrative
17,071
6,353
6,400
Total operating expenses
71,879
26,786
32,783
Loss from operations
(64,424
)
(13,115
)
(22,472
)
Other (expense) income, net:
Interest income
-
27
195
Other income (expense), net
40
(4,750
)
(38
)
Change in fair value of redeemable noncontrolling interests
(3,903
)
—
—
Total other (expense) income, net
(3,863
)
(4,723
)
157
Loss before (provision for) benefit from income taxes
(68,287
)
(17,838
)
(22,315
)
(Provision for) benefit from income taxes
(1
)
(1
)
2
Net loss
(68,288
)
(17,839
)
(22,313
)
Less: net loss attributable to the redeemable noncontrolling interests
209
1,296
2,251
Net loss attributable to Ambrx Biopharma Inc. shareholders
$
(68,079
)
$
(16,543
)
$
(20,062
)
Net loss per share attributable to Ambrx Biopharma Inc. ordinary shareholders - basic
and diluted
$
(0.48
)
$
(0.14
)
$
(0.15
)
Weighted-average ordinary shares used to compute net loss per share attributable to
ordinary shareholders basic and diluted
143,175,224
115,677,467
136,103,550
Other comprehensive loss, net of tax:
Net loss
$
(68,288
)
$
(17,839
)
$
(22,313
)
Foreign currency translation adjustment
(18
)
177
(41
)
Comprehensive loss
(68,306
)
(17,662
)
(22,354
)
Less: comprehensive loss attributable to the redeemable noncontrolling interests
208
1,276
2,257
Comprehensive loss attributable to Ambrx Biopharma Inc.
$
(68,098
)
$
(16,386
)
$
(20,097
)
AMBRX BIOPHARMA INC.
Consolidated Balance Sheets
(In thousands, except share and per share data)
December 31,
December 31,
2021
2020
Assets
Current assets:
Cash and cash equivalents
$
170,064
$
90,462
Restricted cash
842
816
Accounts receivable, net
1,239
428
Prepaid expenses and other current assets
4,661
1,371
Total current assets
176,806
93,077
Property and equipment, net
2,984
850
Right-of-use assets, net
12,737
2,641
Intangible assets, net
35,962
36,829
Other long-term assets
530
624
Total assets
$
229,019
$
134,021
Liabilities, Redeemable Noncontrolling Interests, Convertible Preferred
Shares and Shareholders' Equity (Deficit)
Current liabilities:
Accounts payable
$
5,272
$
2,820
Accrued liabilities
14,125
2,375
Operating lease liabilities, current portion
915
1,595
Deferred revenue, current portion
4,267
6,470
Total current liabilities
24,579
13,260
Operating lease liabilities, net of current portion
12,212
1,598
Accrued liabilities, net of current portion
—
138
Deferred tax liabilities
880
880
Deferred revenue, net of current portion
1,381
3,261
Total liabilities
39,052
19,137
Redeemable noncontrolling interests
—
1,287
Convertible preferred shares, $0.0001 par value; no share authorized at December 31, 2021;
217,575,009 shares authorized at December 31, 2020
Series A convertible preferred shares, no shares designated at December 31, 2021; 160,000,000
shares designated at December 31, 2020; no shares and 135,936,550 shares outstanding at
December 31, 2021 and December 31, 2020, respectively. $0 and $176,396 liquidation preference
at December 31, 2021 and December 31, 2020, respectively
—
157,689
Series B convertible preferred shares, no shares designated at December 31, 2021; 57,575,009
shares designated at December 31, 2020; no shares and 57,575,008 shares outstanding at
December 31, 2021 and December 31, 2020, respectively. $0 and $100,000 liquidation preference
at December 31, 2021 and December 31, 2020, respectively
—
95,342
Shareholders' Equity (Deficit):
Ordinary Shares, par value $0.0001 500,000,000 and 282,424,991 shares authorized at December 31,
2021 and December 31, 2020, respectively; 270,120,548 and 170,000 shares issued and outstanding
at December 31, 2021 and December 31, 2020, respectively
27
—
Additional paid-in capital
404,362
6,805
Accumulated other comprehensive loss
(790
)
(686
)
Accumulated deficit
(213,632
)
(145,553
)
Total shareholders' equity (deficit)
189,967
(139,434
)
Total liabilities, redeemable noncontrolling interests, convertible preferred
shares and shareholders' equity (deficit)
$
229,019
$
134,021
View source version on businesswire.com: https://www.businesswire.com/news/home/20220426006131/en/
INVESTORS Laurence Watts Managing Director Gilmartin Group, LLC. 619-916-7620 ir@ambrx.com
MEDIA media@ambrx.com
1 Year Ambrx Biopharma Chart |
1 Month Ambrx Biopharma 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