Appili Therapeutics Reports Financial and Operational Results for Second Quarter of Fiscal Year 2022 and Change of Chief Financial Officer
12 Novembro 2021 - 07:41PM
Business Wire
Appili Therapeutics Inc. (TSX:APLI; OTCQX: APLIF) (the “Company”
or “Appili”), a biopharmaceutical company developing anti-infective
drug candidates, today announced its financial and operational
results for the second quarter of its fiscal year 2022, which ended
on September 30, 2021.
“Although the top-line results of our Phase 3 PRESECO trial were
not what we had hoped for, I am incredibly proud of all that our
team accomplished this quarter which continues to demonstrate
Appili’s ability to rapidly execute and achieve key development
milestones,” said Armand Balboni, M.D., Ph.D., Chief Executive
Officer of Appili Therapeutics. “I am excited to deploy our
expanded drug development infrastructure to tackle the many other
infectious disease threats in front of us and advance our broader
anti-infective pipeline including our novel, clinical-stage
antifungal ATI-2307 slated to enter Phase 2 next year, and our
first-in-class biodefense vaccine candidate ATI-1701.”
Second quarter and recent operational highlights include:
- In September, announcing last patient enrolled in the Phase 3
PRESECO clinical trial evaluating Avigan®/Reeqonus™ for
mild-to-moderate COVID-19 and its viral shedding sub-study, and
subsequently reporting top-line results for the study.
- Announcing a closing of public offering of $7,000,220 and
entering into an agreement with the Lind Partners for $3.5 million
in funding to further strengthen the Company’s momentum as a fully
integrated, infectious disease specialized company.
- Entering into a data transfer agreement with FUJIFILM Toyama
Chemical Co., Ltd., that will provide funding support of $1,000,000
USD for the Phase 3 PRESECO trial.
- Entering into a strategic alliance and equity transaction with
existing consortium partner AiPharma to enhance complementary
skills and create global reach with expanded resources.
- Preparing for ATI-2307 clinical trial drug product GMP
manufacturing runs to be initiated in December 2021.
Kimberly Stephens, CPA, CA, who has been the Company’s Chief
Financial Officer since 2016, has chosen to leave Appili for
personal reasons effective November 16, 2021. Kenneth G. Howling,
who has over 25 years of experience in senior financial positions
across several healthcare and pharmaceutical companies, will be
joining Appili Therapeutics as Acting Chief Financial Officer this
fall.
“On behalf of our entire team, I would like to thank Kimberly
for her commitment and contribution to Appili Therapeutics,”
continued Armand Balboni, CEO of Appili Therapeutics. “Since
joining Appili in 2016, Kimberly has been an integral part of our
executive team leading Appili through many of our biggest
milestones, including taking the company public and up-listing to
the Toronto Stock Exchange. We wish her well in her future
endeavors.”
Financial Results
The Company prepares its financial statements in accordance with
IFRS as issued by the International Accounting Standard Board and
Part I of Chartered Professional Accountants of Canada
Handbook–Accounting. All figures are stated in Canadian dollars
unless otherwise stated.
The net loss and comprehensive loss of $18.5 million or $0.30
loss per share for the six months ended September 30, 2021 was
$13.5 million higher than the net loss and comprehensive loss of
$5.1 million or $0.09 loss per share during the six months ended
September 30, 2020. This relates mainly to an increase in research
and development expenses by $13.4 million, an increase in business
development of $0.2 million and an increase in accreted interest of
$0.2 million. These increases were offset by a decrease in general
and administration expenses by $0.2 million increase of government
assistance of $0.3 million.
As of September 30, 2021, the Company had cash and short-term
investments of $10.0 million, compared to $16.1 million on March
31, 2021. As of November 12, 2021, the Company had 71,266,120
issued and outstanding Common Shares, 6,621,489 stock options, and
21,343,530 warrants outstanding.
This press release should be read in conjunction with the
Company’s unaudited interim condensed financial statements for the
second quarter of the 2022 fiscal year and the related management
discussion and analysis (MD&A), copies of which are available
on SEDAR at www.sedar.com.
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About Appili Therapeutics
Appili Therapeutics is an infectious disease biopharmaceutical
company that is purposefully built, portfolio-driven, and
people-focused to fulfill its mission of solving life-threatening
infections. By systematically identifying urgent infections with
unmet needs, Appili’s goal is to strategically develop a pipeline
of novel therapies to prevent deaths and improve lives. As part of
a global consortium, Appili recently sponsored a late-stage
clinical trial evaluating the antiviral Avigan/Reeqonus for the
treatment of COVID-19. The Company is also advancing a diverse
range of anti-infectives, including a broad-spectrum antifungal, a
vaccine candidate to eliminate a serious biological weapon threat,
and two novel antibiotic programs. Led by a proven management team,
Appili is at the epicenter of the global fight against infection.
For more information, visit www.AppiliTherapeutics.com.
Forward looking statements
This news release contains “forward-looking statements”,
including with respect to the proposed use of proceeds. Wherever
possible, words such as “may,” “would,” “could,” “should,” “will,”
“anticipate,” “believe,” “plan,” “expect,” “intend,” “estimate,”
“potential for” and similar expressions have been used to identify
these forward-looking statements. These forward-looking statements
reflect the current expectations of the Company’s management for
future growth, results of operations, performance and business
prospects and opportunities and involve significant known and
unknown risks, uncertainties and assumptions, including, without
limitation, the risk that the Company may not be able to continue
as a going concern and those risks listed in the annual information
form of the Company dated June 23, 2021 and the other filings made
by the Company with the Canadian securities regulatory authorities
(which may be viewed at www.sedar.com). Should one or more of these
risks or uncertainties materialize or should assumptions underlying
the forward-looking statements prove incorrect, actual results,
performance or achievements may vary materially from those
expressed or implied by the forward-looking statements contained in
this news release. These factors should be considered carefully,
and prospective investors should not place undue reliance on the
forward-looking statements. The Company disclaims any intention or
obligation to revise forward-looking statements whether as a result
of new information, future developments or otherwise, except as
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20211112005902/en/
Media Contact: Danielle Raabe/APCO Worldwide T:
1-646-717-9915 E: DRaabe@apcoworldwide.com Investor Relations
Contact: Stéphane Paquette; Senior Director, Corporate
Development Appili Therapeutics E: Info@AppiliTherapeutics.com
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