Bio-Path Holdings, Inc. Releases Q3 2023 10-Q Report Highlighting Financial and Operational Progress
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Bio-Path Holdings, Inc., a biotechnology company specializing in the development of RNAi nanoparticle drug candidates using its DNAbilize® technology platform, has released its Form 10-Q report for the third quarter of 2023. The report provides a comprehensive overview of the company's financial performance and operational advancements, particularly in its ongoing clinical trials and drug development programs.
Financial Highlights
- Net Operating Loss: $3.0 million, a decrease of $1.2 million compared to the three months ended June 30, 2023.
- Net Loss: $1.9 million, a decrease of $2.4 million compared to the three months ended June 30, 2023.
- Net Loss Per Share: $1.16, compared to $10.64 for the three months ended June 30, 2023.
- Net Operating Loss (Six Months Ended): $6.7 million, a decrease of $2.8 million compared to the six months ended June 30, 2023.
- Net Loss (Six Months Ended): $5.0 million, a decrease of $4.5 million compared to the six months ended June 30, 2023.
- Net Loss Per Share (Six Months Ended): $4.45, compared to $23.89 for the six months ended June 30, 2023.
Business Highlights
- Research and Development Focus: Bio-Path Holdings is advancing four drug candidates targeting various cancer indications using its DNAbilize® technology platform. These include prexigebersen for AML, BP1002 for lymphoma and CLL, BP1003 for pancreatic cancer, and BP1001-A for solid tumors.
- Clinical Trials Progress: The company is conducting multiple clinical trials, including a Phase 2 trial for prexigebersen in combination with decitabine and venetoclax for AML patients. Interim data shows promising response rates, with plans to continue enrollment and pursue FDA expedited programs.
- Pipeline Expansion: Bio-Path is preparing for preclinical development of prexigebersen for obesity-related cancers, leveraging existing safety data from leukemia treatments. The company is also advancing BP1002 and BP1003 through clinical and preclinical stages, respectively.
- Future Outlook: The company anticipates significant operating expenses as it continues clinical trials and seeks regulatory approvals. Bio-Path plans to expand its drug development programs and explore potential collaborations and licensing opportunities to support its growth strategy.