Aadi Bioscience Inc Stock Price, News & Analysis

Aadi Bioscience has presented three clinical trial posters at the CTOS 2022 Annual Meeting. Highlighted were the trial-in-progress for PRECISION 1, aimed at treating solid tumors with TSC1/TSC2 alterations, and the AMPECT trial's long-term results. The AMPECT study noted a median Duration of Response (DoR) exceeding 3 years and Overall Survival (OS) of 53.1 months. The data also underscored the safety profile of nab-sirolimus, with manageable adverse events not affecting treatment efficacy. These findings bolster Aadi's position in precision oncology.

Aadi Bioscience (AADI) announced a significant corporate update, highlighting a successful $72.5 million PIPE financing that extends its cash runway into 2025. The company reported a 24% increase in FYARRO® (nab-sirolimus) sales, totaling $4.2 million for Q3 2022. The PRECISION 1 trial is on track, with preliminary data expected in H1 2023. A leadership transition is set for January 1, 2023, with Neil Desai becoming Executive Chairman and Brendan Delaney stepping in as CEO. Aadi has also signed a collaboration with Mirati Therapeutics to study the combination of adagrasib and nab-sirolimus.

Aadi Bioscience announced a leadership transition, with Neil Desai becoming Executive Chairman and Brendan Delaney promoted to President and CEO, effective January 1, 2023. Desai has led the company since its inception, guiding the approval of FYARRO for advanced malignant PEComa and initiating the PRECISION 1 trial for broader cancer indications. The transition comes as Aadi has grown significantly, raising $155M during its public listing in August 2021 and $72.5 million in September 2022. Delaney previously held executive roles at Constellation Pharma and Immunomedics, bringing extensive commercial experience.

Aadi Bioscience, a biopharmaceutical company focused on precision therapies for genetically defined cancers, will present at three major conferences in November 2022. These include the H.C. Wainwright Precision Oncology Virtual Conference on November 14, the Jefferies London Healthcare Conference from November 15-17, and the Piper Sandler Healthcare Conference from November 29 to December 1. CEO Neil Desai and COO Brendan Delaney will engage in discussions highlighting the company's advancements, including the FDA-approved FYARRO® treatment for certain cancer patients.

Aadi Bioscience, Inc. (NASDAQ: AADI) announced preclinical data showcasing the synergistic potential of combining KRAS inhibitors with nab-sirolimus for treating KRAS-mutated cancers. The data will be presented at the 34^th EORTC-NCI-AACR Symposium in Barcelona on October 27, 2022. This study indicates that the combination significantly enhances response rates against KRAS G12C mutant lung and bladder cancers. Aadi aims to address adaptive resistance seen in KRAS mutations, emphasizing the role of nab-sirolimus in future clinical applications.

Mirati Therapeutics (MRTX) and Aadi Bioscience (AADI) announced a clinical collaboration on Oct. 12, 2022, to evaluate the combination of adagrasib, a KRAS^G12C inhibitor, and nab-sirolimus, an mTOR inhibitor, in patients with KRAS^G12C mutant non-small cell lung cancer (NSCLC). The Phase 1/2 trial aims to determine the optimal dosing, safety, and efficacy of the drug combination. Preclinical data showed enhanced anti-tumor efficacy when both agents were used together. The collaboration exemplifies their commitment to advancing targeted therapies for challenging cancers.

Aadi Bioscience, Inc. (NASDAQ: AADI) announced a private investment in public equity (PIPE) financing, issuing 3,373,526 shares at $12.50 each, and pre-funded warrants for up to 2,426,493 shares at $12.4999 per share. The gross proceeds are expected to be around $72.5 million, aimed at extending cash reserves into 2025. The funds will support the PRECISION 1 trial and expand FYARRO commercial efforts. The PIPE is set to close on September 26, 2022, and includes participation from various investment groups.

Aadi Bioscience, Inc. (NASDAQ: AADI), a biopharmaceutical company focusing on precision therapies for cancers with mTOR pathway gene alterations, announced its participation in several September investor conferences. These include Citi's Annual BioPharma Conference (Sept 7-8), Morgan Stanley's Global Healthcare Conference (Sept 12-14), and H.C. Wainwright's Investment Conference (Sept 12-14) in New York. Founder and CEO Neil Desai will present and participate in discussions, with webcasts available on the company's website. Aadi continues to develop its pipeline after receiving FDA approval for FYARRO® in November 2021.

Aadi Bioscience reported net product sales of $3.4 million for FYARRO in Q2 2022, marking the first full quarter post-launch. The company is advancing the PRECISION 1 trial, with preliminary data expected in 1H23. Significant partnerships with genomic testing leaders were established to enhance patient recruitment for the trial. Despite a $3.7 million non-cash impairment charge and a net loss of $18.3 million for the quarter, cash reserves of $118.7 million are projected to fund operations into 2024.