Welcome to our dedicated page for Aerovate Therapeutics news (Ticker: AVTE), a resource for investors and traders seeking the latest updates and insights on Aerovate Therapeutics stock.
Aerovate Therapeutics, Inc. (AVTE) is a clinical-stage biopharmaceutical company pioneering inhaled therapies for rare cardiopulmonary diseases. This page serves as the definitive source for verified news about AV-101 development, clinical trial milestones, and corporate updates.
Investors and researchers will find timely updates on pulmonary arterial hypertension (PAH) treatment advancements, including Phase 2b/3 IMPAHCT trial progress, regulatory communications, and strategic partnerships. Our curated collection features press releases on key metrics like pulmonary vascular resistance reductions and six-minute walk distance improvements.
All content undergoes rigorous verification to ensure accuracy, with updates spanning drug development breakthroughs, financial disclosures, and scientific conference presentations. Bookmark this page for direct access to primary source materials from Aerovate’s research initiatives.
Aerovate Therapeutics (AVTE) announced stockholder approval of its proposed merger with Jade Biosciences and all related proposals at a special meeting held on April 16, 2025. The company's board approved a 1-for-35 reverse stock split, which will reduce outstanding shares from approximately 30.0 million to 0.8 million.
Following the merger, the combined company will trade on Nasdaq as Jade Biosciences (JBIO) starting April 29, 2025. Stockholders also approved increasing authorized common stock from 150 million to 300 million shares. A special cash dividend of $69.6 million ($2.40 per share) will be paid to stockholders of record as of April 25, 2025, based on pre-split holdings. Post-merger, Jade Biosciences is expected to have approximately 32.2 million shares outstanding, or 60.6 million fully-diluted shares.
Aerovate Therapeutics (NASDAQ: AVTE) has announced a special cash dividend of $69.6 million, or approximately $2.40 per share, in connection with its pending merger with Jade Biosciences. The dividend will be paid to stockholders of record as of April 25, 2025, with payment scheduled for April 29, 2025.
The dividend distribution is contingent upon the completion of the merger, which is expected to close around April 28, 2025, subject to stockholder approval. Shareholders will vote on the merger at a special meeting scheduled for April 16, 2025, at 9:00 a.m. ET. The company anticipates the dividend will be characterized as a return of capital for tax purposes, as Aerovate does not expect to have current or accumulated earnings and profits.
Aerovate Therapeutics (NASDAQ: AVTE) has announced an expected cash dividend ranging from $67.6 to $69.6 million in connection with its previously announced merger with Jade Biosciences. The dividend will be distributed to pre-merger Aerovate stockholders, with 28,985,019 shares of Aerovate's common stock currently outstanding as of April 4, 2025.
The official dividend declaration is pending board approval and is expected to be announced later in April 2025. The merger closing, scheduled for no later than April 30, 2025, remains subject to stockholder approval at a special meeting set for April 16, 2025 at 9:00 a.m. ET, along with other closing conditions outlined in the Merger Agreement.
Aerovate Therapeutics (Nasdaq: AVTE) announced on July 8, 2024, that it will explore strategic alternatives after halting Phase 3 of its Inhaled iMatinib Pulmonary Arterial Hypertension Clinical Trial (IMPAHCT) and the associated long-term extension study. To maximize shareholder value, Aerovate has engaged Wedbush PacGrow as its exclusive strategic financial advisor. Potential options include an acquisition, merger, reverse merger, business combination, liquidation, or other transactions. However, there is no assurance that any of these options will be pursued or completed successfully. Aerovate has not set a timeline for this review and will only provide updates when a definitive action is approved or if further disclosure is deemed necessary.
Aerovate Therapeutics announced 24-week topline results from the Phase 2b portion of the IMPAHCT trial evaluating AV-101 for pulmonary arterial hypertension (PAH). The trial did not meet its primary endpoint of reducing pulmonary vascular resistance (PVR) or secondary endpoint of improving six-minute walk distance (6MWD) for any studied dose. AV-101 was well-tolerated at all doses but failed to show meaningful benefits in additional secondary endpoints as well. Consequently, Aerovate will halt the Phase 3 portion and the long-term extension study of IMPAHCT. The company aims to engage with the PAH community to discuss the results and plans to release full data later. As of June 15, 2024, Aerovate holds approximately $100 million in cash and equivalents.
Aerovate Therapeutics presented baseline data from the Phase 2b portion of the IMPAHCT trial at the ATS 2024 International Conference. The trial is evaluating AV-101, an inhaled formulation of imatinib, for treating pulmonary arterial hypertension (PAH). The 202 adult patients involved are predominantly in WHO functional classes II and III, with 57% on triple background therapy. The study design aims to balance efficacy, safety, and tolerability of AV-101. Topline Phase 2b data will be released in June 2024, with Phase 3 enrollment ongoing across over 120 global sites. The company aims to advance AV-101 development to address unmet needs in PAH treatment.
Aerovate Therapeutics (Nasdaq: AVTE) has announced its Q1 2024 financial results and business updates. Key developments include the expected topline data release in June 2024 from the Phase 2b IMPAHCT trial for AV-101 in pulmonary arterial hypertension (PAH). Enrollment for Phase 3 of IMPAHCT is ongoing, involving over 120 sites globally. The company will present Phase 2b baseline characteristics at the ATS 2024 Conference. Financially, Aerovate raised $23.6 million in April and reported $99.3 million in cash and short-term investments as of March 31, 2024. R&D expenses rose to $20.1 million, G&A expenses to $4.5 million, and the net loss for the quarter was $23.2 million. The firm projects a cash runway into 2026.
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