Aadi Bioscience Inc Stock Price, News & Analysis

Aadi Bioscience, Inc. (NASDAQ: AADI) has been included in the U.S. small-cap Russell 2000® Index and the broad-market Russell 3000® Index, effective June 24, 2022. This inclusion marks a significant milestone in Aadi's first year as a public company, enhancing its visibility among investors. Aadi's CEO, Neil Desai, expressed optimism about the company's progress, including the launch of FYARRO™ and the initiation of the PRECISION 1 trial targeting mTOR pathway alterations. Russell indexes are crucial benchmarks for $12 trillion in assets.

Aadi Bioscience, a biopharmaceutical company focused on precision therapies for genetically defined cancers, will participate in the Jefferies Global Healthcare Conference in New York from June 8-10, 2022. CEO Neil Desai is set to present during a fireside chat on June 9 at 10am ET. A live webcast will be accessible via the company’s website, with a replay available for 30 days post-event. Aadi is known for its FDA-approved treatment FYARRO for PEComa and has initiated a Phase 2 trial called PRECISION 1 targeting mTOR inhibitor-naïve solid tumors.

Aadi Bioscience (NASDAQ: AADI) has appointed Marcy Graham as Senior Vice President of Investor Relations and Corporate Communications. Graham brings over 20 years of experience in biotech investor relations, having previously worked at Poseida Therapeutics and Mirati Therapeutics. Her role will focus on enhancing Aadi's investor base and corporate visibility following the company's transition to public markets and the approval of its first commercial product, FYARRO. The company aims to advance its pipeline for precision oncology therapies targeting genetically defined cancers.

Aadi Bioscience (NASDAQ: AADI) announced promising results for its drug nab-sirolimus in treating patients with advanced malignant PEComa at the 2022 ASCO Annual Meeting. Data from the AMPECT trial and an expanded access program indicated that 64% of patients with TSC1 or TSC2 alterations responded positively to treatment, compared to a 39% response rate for all patients. The findings bolster the rationale for the ongoing PRECISION 1 Phase 2 trial. FYARRO™, the drug's commercial name, is FDA-approved for locally advanced, unresectable malignant PEComa.

Aadi Bioscience, a biopharmaceutical company focused on precision therapies for genetically-defined cancers, will participate in the H.C. Wainwright Global Investment Conference from May 23-26, 2022. Founder and CEO Neil Desai and the executive team will present virtually on May 24, starting at 7:00 AM EDT. Aadi recently received FDA approval for its drug FYARRO for treating advanced malignant PEComa and has launched it commercially. The company has also initiated the PRECISION 1 trial for solid tumors with specific genetic alterations.

Aadi Bioscience reported FYARRO net product sales of $2.3 million for Q1 2022, following its launch in February. The company initiated patient dosing in the PRECISION 1 Phase 2 trial for tumors with TSC1 or TSC2 alterations. Aadi's cash reserves stood at $129.8 million as of March 31, 2022, projected to fund operations into 2024. Operating expenses rose to $16.1 million, primarily due to increased marketing and personnel costs. The net loss for Q1 2022 was $13.9 million, up from $5.5 million in Q1 2021.

Aadi Bioscience, Inc. reported first quarter 2022 financial results, highlighting net product sales of $2.3 million from the launch of FYARRO in February.

The company emphasizes strong demand and favorable physician awareness. Operating expenses surged to $16.1 million, with a net loss of $13.9 million, compared to $5.5 million in Q1 2021. Aadi initiated dosing in the PRECISION 1 trial, targeting TSC1/TSC2 gene alterations, and expects initial clinical data in 2023. Aadi anticipates cash reserves will fund operations into 2024.

Aadi Bioscience has announced collaborations with leading next-generation sequencing (NGS) companies, including Foundation Medicine and Tempus, to enhance enrollment in its PRECISION 1 trial. This Phase 2 registrational trial focuses on patients with advanced cancer exhibiting inactivating alterations in the TSC1 and TSC2 genes, with a projected US incidence of 12,000 patients. The partnerships aim to improve patient identification and enrollment speed for the trial, which evaluates nab-sirolimus. Preliminary data from the trial is expected in the first half of the following year.

Aadi Bioscience, Inc. (Nasdaq: AADI) announced the approval of a permanent J-code (J9331) for its drug FYARRO™ effective July 1, 2022. This J-code improves the reimbursement process for FYARRO, which treats adult patients with malignant perivascular epithelioid cell tumors (PEComa). The standardization will apply across Medicare and private insurance, facilitating claims submissions. FYARRO is the first approved treatment for PEComa and is now included in the NCCN Clinical Practice Guidelines as a preferred regimen. Aadi emphasized the significance of this milestone for patient access and commercial rollout.