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Aileron Therapeutics (NASDAQ: ALRN) reported its Q1 2024 financial results, highlighting positive data from Cohort 1 of its Phase 1b trial for LTI-03 in idiopathic pulmonary fibrosis (IPF) patients. The trial showed statistical significance in three out of eight biomarkers, with promising safety and tolerability. Topline results from Cohort 2 are expected in Q3 2024. The company raised approximately $20 million from a direct offering in May 2024, potentially adding another $20 million from warrant exercises. Cash reserves were $12 million as of March 31, 2024, expected to fund operations into H2 2025. R&D expenses rose to $3.5 million from $1.8 million YoY, primarily due to the acquisition of Lung. G&A expenses increased to $3.7 million from $2.2 million. Net loss for the quarter was $7.1 million, compared to $4.8 million in Q1 2023.
Aileron Therapeutics, Inc. announced that its President and CEO will present at two upcoming investor conferences, sharing insights on their pipeline of medicines targeting orphan pulmonary and fibrosis indications. The conferences are Citizens JMP Life Sciences Conference on May 13, 2024, and H.C. Wainwright 2nd Annual BioConnect Investor Conference on May 20, 2024.
Aileron Therapeutics, Inc. announced the closing of an underwritten registered direct offering of approximately $40 million, with $20 million in initial funding and potential additional proceeds of $20 million from warrants. The offering included 4,273,505 shares of common stock and warrants at a combined public offering price of $4.68 per share. The warrants, exercisable immediately, have an exercise price of $4.68 per share and expire in three years. Titan Partners Group served as the book-running manager for the offering.
Aileron Therapeutics, Inc. announced the pricing of an underwritten registered direct offering to raise up to $40 million under Nasdaq rules. The offering includes 4,273,505 shares of common stock and warrants to purchase an equal number of shares. The offering is expected to generate approximately $20 million in gross proceeds, with the potential for an additional $20 million from warrant exercises. The warrants have an exercise price of $4.68 per share and will expire three years from the date of issuance. The offering is subject to customary closing conditions and is expected to close on or about May 3, 2024.
Aileron Therapeutics, Inc. announced positive data from Cohort 1 of the Phase 1b clinical trial of LTI-03 in IPF. Low-dose LTI-03 showed reductions in profibrotic proteins, increased expression of biomarkers, and was well-tolerated. Positive trends were observed in seven out of eight biomarkers. Data from Cohort 2 is expected in Q3 2024.
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