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. (NASDAQ: AVTE) generates news that spans clinical development updates, strategic reviews and corporate transactions in the biotechnology sector. The company is based in Waltham, Massachusetts and has focused on developing AV-101, an investigational dry powder inhaled formulation of imatinib for pulmonary arterial hypertension (PAH), a rare cardiopulmonary disease.
News coverage for AVTE has included detailed reports on the IMPAHCT trial, a multi-national Phase 2b/Phase 3 study of AV-101 in adults with PAH. Investors can find announcements of topline Phase 2b results, which showed that AV-101 did not meet the primary endpoint of change in pulmonary vascular resistance compared with placebo and did not show meaningful improvements in six-minute walk distance. Related updates describe the decision to halt enrollment and shut down the Phase 3 portion of IMPAHCT and the long-term extension study.
AVTE news also highlights strategic and corporate developments. After the IMPAHCT Phase 2b results, Aerovate announced a comprehensive review of strategic alternatives that could include an acquisition, merger, reverse merger, business combination, liquidation or other transaction. Subsequent press releases report that Aerovate stockholders approved a proposed merger with Jade Biosciences, Inc., a 1-for-35 reverse stock split, and a special cash dividend to Aerovate stockholders in connection with the merger.
On this news page, readers can follow how Aerovate’s clinical data, strategic review process and merger with Jade Biosciences shape the evolution of the AVTE listing. For ongoing research, it is useful to track announcements about the IMPAHCT trial, AV-101, merger milestones, reverse stock split details and the expected transition of trading to the Jade Biosciences name and JBIO ticker on Nasdaq. Bookmark this page to review historical and recent AVTE press releases and market-moving disclosures.
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Aerovate Therapeutics reported financial results for the year ending December 31, 2022, revealing a net loss of $51.5 million, up from $23 million in 2021, attributed to increased R&D and G&A expenses. The company continues progress on the IMPAHCT Phase 2b/Phase 3 clinical trial for AV-101, a potential treatment for pulmonary arterial hypertension (PAH), with topline data expected in late 2023 or early 2024. The firm expanded its intellectual property portfolio with four new patents and bolstered its management team. Cash and equivalents stood at $129.2 million as of year-end, sufficient to fund operations through mid-2025.
Aerovate Therapeutics, Inc. (Nasdaq: AVTE) announced its participation in the Cowen 43rd Annual Health Care Conference on March 8, 2023, at 10:30 a.m. ET. The panel discussion will cover respiratory diseases, specifically pulmonary arterial hypertension (PAH), the recent sotatercept phase 3 data, and provide insights into AV-101 and the IMPAHCT Phase 2b/Phase 3 trial. AV-101 is a proprietary dry powder inhaled formulation of imatinib aimed at treating PAH while minimizing side effects. The IMPAHCT trial evaluates AV-101's safety and efficacy across different doses, with primary endpoints focusing on changes in pulmonary vascular resistance and six-minute walk distance.
Aerovate Therapeutics (Nasdaq: AVTE) announced the appointment of Donald Santel to its Board of Directors, bringing over 40 years of biopharmaceutical experience. Santel's background includes leadership roles at multiple biopharmaceutical firms, enhancing Aerovate's efforts in developing AV-101, a novel dry powder formulation of imatinib for pulmonary arterial hypertension (PAH). CEO Timothy Noyes highlighted the strategic significance of Santel's experience in guiding Aerovate's growth and addressing the unmet needs of PAH patients. The Board aims to leverage Santel's expertise for advancing clinical development and delivering innovative therapies.
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