Axovant Gene Therapies (Nasdaq: AXGT) announced its participation in several upcoming virtual investor and patient conferences this September. The company will provide an overview of its operations and engage in 1:1 meetings. Notably, the 1st Parkinson’s Disease R&D Day is scheduled for October 30, 2020, hosted by Chief R&D Officer Gavin Corcoran, MD. Axovant focuses on innovative gene therapies for debilitating neurodegenerative diseases, including GM1 and GM2 gangliosidosis and Parkinson's disease.
Axovant Gene Therapies Ltd. (NASDAQ: AXGT) reported its financial results for Q1 fiscal 2020, ending June 30, 2020. The company's net loss decreased to $8.6 million ($0.20 per share) from $28.1 million in the prior year. R&D expenses dropped to $5.2 million, down $15.9 million year-over-year. Cash and equivalents totaled $55.5 million, projected to fund operations into Q2 2021. Ongoing clinical programs for AXO-Lenti-PD and AXO-AAV-GM1 are on track, with key data readouts expected in Q4 2020. A manufacturing agreement with Oxford BioMedica was completed for AXO-Lenti-PD.
Axovant Gene Therapies Ltd (NASDAQ: AXGT) announced a three-year Clinical Supply Agreement with Oxford Biomedica to manufacture GMP batches of its gene therapy AXO-Lenti-PD for Parkinson’s disease. This agreement builds on a prior licensing deal from June 2018 as the company advances its Phase 2 SUNRISE-PD trial, completing patient dosing in the second cohort. Six-month safety and efficacy data are anticipated in Q4 2020. This collaboration aims to scale up production to support ongoing clinical studies and future commercialization.
Axovant Gene Therapies reported significant progress in its clinical studies, completing enrollment for two key cohorts: the SUNRISE-PD Phase 2 study for Parkinson’s disease and a low-dose cohort for AXO-AAV-GM1 targeting GM1 gangliosidosis. The company holds a strong cash position of $80.8 million as of March 31, 2020, with a runway into Q2 2021. Despite increased R&D expenses totaling $47.1 million for the year, Axovant reduced its net loss to $72.6 million, or $2.93 per share, compared to $129.1 million in the prior year. Key data from clinical trials is expected in Q4 2020.
Axovant Gene Therapies Ltd. (NASDAQ: AXGT) has completed enrollment of the low-dose cohort in its Phase 1/2 study for Type II GM1 patients, assessing the safety and efficacy of AXO-AAV-GM1. The company anticipates reporting six-month data from this cohort by Q4 2020. The IND has been amended to include Type I patients and evaluate a higher dose. Axovant expects the high-dose cohort trial to commence in the second half of 2020. AXO-AAV-GM1 aims to treat the fatal pediatric disorder GM1 gangliosidosis, which currently has no approved therapies.
Axovant Gene Therapies, a clinical-stage company focused on gene therapies for neurological diseases, announced that Parag Meswani will present at the Jefferies Global Virtual Healthcare Conference.
Presentation Details:
Date: June 4, 2020
Time: 3:00 PM EDT
Webcast Link: here. A replay will be available on Axovant’s website for 30 days post-conference.
The company specializes in developing therapies targeting diseases like GM1 and GM2 gangliosidosis and Parkinson's disease.