Bio-Path Holdings, Inc. Releases Q3 2024 10-Q Report

Bio-Path Holdings, Inc., a biotechnology company specializing in the development of RNAi nanoparticle drug candidates for oncology, has released its Form 10-Q report for the third quarter of 2024. The report highlights significant financial and operational developments, including updates on clinical trials and future business outlook.

Financial Highlights

• Net Operating Loss: $2.6 million for the three months ended September 30, 2024, a decrease of $0.6 million compared to the same period in 2023.
• Net Loss: $2.1 million for the three months ended September 30, 2024, a decrease of $1.1 million compared to the same period in 2023.
• Net Loss Per Share: $0.70 for the three months ended September 30, 2024, compared to $6.36 for the same period in 2023.
• Net Operating Loss: $9.4 million for the nine months ended September 30, 2024, a decrease of $3.4 million compared to the same period in 2023.
• Net Loss: $7.1 million for the nine months ended September 30, 2024, a decrease of $5.6 million compared to the same period in 2023.
• Net Loss Per Share: $4.05 for the nine months ended September 30, 2024, compared to $29.34 for the same period in 2023.

Business Highlights

• Research and Development Focus: Bio-Path Holdings is focused on developing RNAi nanoparticle drug candidates for oncology using their DNAbilize® technology. They have four drug candidates in development targeting at least five different cancer indications.
• Clinical Trials Update: The company is conducting multiple clinical trials, including a Phase 2 trial for prexigebersen in AML, which has shown promising interim results with high response rates. They are also advancing trials for BP1002 in lymphoma and BP1003 in pancreatic cancer.
• Product Development: Bio-Path is developing a molecular biomarker package to accompany prexigebersen treatment, aiming to identify patients more likely to respond to treatment, thereby improving the probability of success.
• Future Outlook: The company plans to continue enrollment in their clinical trials and pursue FDA expedited programs for Fast Track designation. They are also evaluating potential expansion of trials in Europe.
• Operational Challenges: The company faces significant risks and uncertainties, including the need for additional funding and the outcome of clinical trials. They are actively seeking collaborations and license arrangements for their drug candidates.

SEC Filing: Bio-Path Holdings, Inc. Releases Q3 2024 [ OTC:BPTH ] - 10-Q - Nov. 14, 2024