Appili Therapeutics Inc. develops anti-infective products for infectious diseases and biodefense. Company updates cover its portfolio of LIKMEZ (ATI-1501), an FDA-approved ready-made metronidazole suspension; ATI-1701, a live-attenuated tularemia vaccine candidate; ATI-1801, a topical antiparasitic program for cutaneous leishmaniasis; and collaborations involving VXV-01, a fungal vaccine program.
Recurring news also addresses non-dilutive government funding, NIAID and U.S. Air Force Academy-supported development work, manufacturing and regulatory activities, financial and operational results, scientific and biodefense conference participation, and shareholder meeting outcomes.
Appili Therapeutics reported its fiscal year 2024 results, highlighting the FDA approval and commercial launch of LIKMEZ (ATI-1501) for metronidazole oral suspension. The company secured funding from the U.S. Air Force Academy to advance ATI-1701, a biodefense vaccine, and is engaging with regulatory authorities regarding ATI-1801, a topical antiparasitic product.
Financially, Appili experienced a net loss of $3.8 million, an improvement from the $9.2 million loss in the previous year, aided by an increase in government assistance and revenue. The company reported cash reserves of $0.1 million as of March 31, 2024, compared to $2.5 million the prior year, and highlighted a going concern note due to reliance on closing a transaction with Aditxt and other funding.
Appili entered an agreement with Aditxt, where shareholders would receive a combination of cash and stock, contingent on Aditxt raising additional capital. The deal is expected to finalize by Q3 2024.
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