Aadi Bioscience Inc Stock Price, News & Analysis

Aadi Bioscience (NASDAQ: AADI) has successfully closed a $100 million private placement financing led by Ally Bridge Group. The company sold 21,592,000 common stock shares at $2.40 per share and pre-funded warrants for up to 20,076,500 shares at $2.3999 per warrant.

The private placement attracted both new investors including OrbiMed, Invus, and Kalehua Capital, as well as existing investors like Avoro Capital, KVP Capital, and Acuta Capital Partners. Jefferies served as the exclusive placement agent.

The proceeds will fund upfront payments for a license agreement with WuXi Biologics (Shanghai FX) Co., and general corporate purposes. Combined with existing funds and proceeds from the FYARRO® business sale, this financing is expected to support operations until 2028, including planned clinical data readouts for Aadi's ADC portfolio.

Aadi Bioscience (NASDAQ: AADI) announced that stockholders approved all proposals at the Special Meeting held on February 28, 2025. Key approvals include:

• The sale of FYARRO® program to KAKEN INVESTMENTS through divestiture of Aadi Subsidiary
• PIPE financing involving issuance of 21,592,000 common shares at $2.40 per share and pre-funded warrants for 20,076,500 shares at $2.3999
• Amendment to 2021 Equity Incentive Plan increasing available shares by 6.3 million to 8.3 million shares, and raising annual automatic share reserve increase from 4% to 5%
• Non-binding advisory vote on executive compensation related to the divestiture

Aadi Bioscience (NASDAQ: AADI) has announced its upcoming participation in the TD Cowen 45th Annual Healthcare Conference in Boston, MA. The conference is scheduled for March 3-5, 2025, where CEO Dave Lennon, PhD, will deliver a company overview presentation on Monday, March 3, 2025, from 9:50 – 10:20 AM ET.

The presentation will be accessible through a live webcast on the company's IR website pages, with replay availability for approximately 30 days after the event.

Aadi Bioscience (NASDAQ: AADI) has appointed David Dornan, PhD as Chief Scientific Officer, bringing over 20 years of oncology drug discovery and development expertise, particularly in antibody-drug conjugates (ADCs). This appointment aligns with Aadi's new strategic plan announced in December 2024, which includes:

1. The sale of FYARRO® to Kaken Pharmaceuticals for $100 million
2. In-licensing of ADC portfolio from WuXi Biologics
3. A $100 million private placement financing

The company has scheduled a Special Meeting of Stockholders for February 28, 2025, to vote on the FYARRO sale and financing proposals. Dr. Dornan, who previously served as CSO at Elevation Oncology and Bolt Biotherapeutics, will lead the development of Aadi's pipeline targeting PTK7, MUC16, and SEZ6 cancer targets.

Aadi Bioscience (NASDAQ: AADI) has filed a definitive proxy statement for a Special Meeting of Stockholders scheduled for February 28, 2025, seeking approval for three strategic transactions announced in December 2024:

1. The sale of FYARRO® and infrastructure to Kaken Pharmaceuticals for $100 million in cash
2. In-licensing of antibody drug conjugates (ADCs) portfolio from WuXi Biologics
3. A $100 million PIPE financing to develop the ADC assets

FYARRO generated approximately $58 million in aggregate sales through September 2024. The company faced a setback in August 2024 when a Phase 2 trial failed to support accelerated approval. The sale price represents about 4x FYARRO's revenue over the four quarters ended September 30, 2024. The stock price rose 46% after the December 2024 announcement of these transactions.

Aadi Bioscience (NASDAQ: AADI) has announced three major strategic moves: an exclusive license agreement for three preclinical antibody-drug conjugates (ADCs), a $100 million sale of FYARRO®, and a $100 million PIPE financing. The company secured exclusive rights to ADC programs targeting PTK7, MUC16, and SEZ6, with $44 million in upfront payments and potential milestone payments up to $805 million plus royalties.

The PIPE financing involves selling 21,592,000 common shares at $2.40 per share and pre-funded warrants for 20,076,500 shares at $2.3999 per warrant. The financing round was led by Ally Bridge Group, with participation from OrbiMed, Invus, and other investors. These strategic moves are expected to fund operations into late 2028.

Aadi Bioscience (NASDAQ: AADI) reported Q3 2024 financial results with FYARRO® sales reaching $7.2 million, showing 21% year-over-year growth and 17% quarter-over-quarter increase. The company reported cash reserves of $62.6 million, expected to fund operations into at least 2H 2026. Operating expenses were $20.6 million, down from $23.8 million in the prior year quarter. Net loss improved to $12.5 million compared to $16.3 million in Q3 2023. The company is winding down the PRECISION1 trial while maintaining Phase 2 trials for endometrial cancer and neuroendocrine tumors.

Aadi Bioscience (NASDAQ: AADI) has announced it will release its third quarter 2024 financial results and provide corporate updates on Wednesday, November 6, 2024. The company will make this information available on the Investors & News section of their website at aadibio.com.

Aadi Bioscience (NASDAQ: AADI) has announced the halt of its PRECISION1 trial for nab-sirolimus in solid tumors with TSC1 or TSC2 alterations due to unlikely regulatory approval. The company will now focus on its FYARRO® commercial business for PEComa and conduct a strategic review. To extend cash runway into at least 2H 2026, Aadi will:

• Adjust ongoing Phase 2 trials
• Reduce R&D headcount by 80%
• Pause new enrollment in EEC and NET trials
• Continue dosing previously enrolled patients

FYARRO® sales reached $6.2M in Q2. The company will provide a full analysis of the PRECISION1 trial later and has hired an advisory firm to explore options for maximizing shareholder value.