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Benitec Biopharma Inc. develops clinical-stage genetic medicines based on its proprietary Silence and Replace DNA-directed RNA interference platform. The company’s lead program, BB-301, is a silence-and-replace therapeutic in development for dysphagia in patients with Oculopharyngeal Muscular Dystrophy, or OPMD.
Company news primarily covers BB-301 clinical development, including Phase 1b/2a study updates, follow-up data from treated cohorts, safety and clinical-activity observations, and presentations at gene therapy and muscular dystrophy medical meetings. Benitec also issues periodic financial results and operational updates tied to its development-stage biotechnology business.
Benitec Biopharma (NASDAQ: BNTC) reported its financial results for the second fiscal quarter ending December 31, 2022. Revenue decreased to $14,000 from $25,000 year-over-year, while operating expenses rose to $5.6 million. Research and development expenses specifically for its OPMD project increased to $3.8 million. Notably, the first patient has been enrolled in the BB-301 clinical development program aimed at treating Oculopharyngeal Muscular Dystrophy (OPMD). The company anticipates interim clinical results in 2023 following a six-month observational study and subsequent dosing of BB-301.
Benitec Biopharma Inc. (NASDAQ: BNTC) has announced the enrollment of its first patient into the natural history phase of its BB-301 clinical development program targeted at oculopharyngeal muscular dystrophy (OPMD). This six-month pre-treatment observation phase aims to evaluate baseline patient conditions before proceeding with the Phase 1b/2a treatment study scheduled for 2023. CEO Jerel A. Banks stated that high enrollment interest has been reported, marking a significant milestone for the Company's clinical development goals. The NH Study will utilize various quantitative radiographic measures to assess dysphagia progression in OPMD patients.
Benitec Biopharma Inc. (NASDAQ: BNTC) announced its Fiscal Year First Quarter financial results for the period ending September 30, 2022. The company reported a net loss of $5.1 million, or $0.47 per share, an improvement from a net loss of $5.0 million, or $0.62 per share, in the same quarter last year. Total revenues remained at $0. Total expenses decreased to $4.6 million from $4.8 million. Significant progress was made in the Oculopharyngeal Muscular Dystrophy (OPMD) Natural History Study, with subject screening set to start in November 2022. The company anticipates initiating its BB-301 treatment study in 2023.
Benitec Biopharma Inc. (Nasdaq: BNTC) has successfully closed a public offering of 29,809,471 shares of common stock at a price of $0.60 each, along with warrants to purchase an equal number of shares. The offering generated approximately $17.9 million prior to expenses. The proceeds will be used for the clinical development of BB-301, including various studies, and to advance other product candidates, as well as for general corporate purposes. JMP Securities acted as the sole book-running manager for this offering.
Benitec Biopharma (BNTC) has priced an underwritten public offering of 29,809,471 shares of its common stock, including pre-funded warrants, and accompanying warrants at a combined price of $0.60 per share. The offering aims to raise approximately $17.9 million for clinical development of its product BB-301 and related growth activities, with expected closure on September 15, 2022. The warrants are exercisable upon increase in authorized shares, with an exercise price of $0.66, expiring five years from the initial exercise date.
Benitec Biopharma (NASDAQ: BNTC) reported financial results for FY 2022, ending June 30, 2022. Total revenues increased to $73,000, up from $59,000 in FY 2021, primarily due to higher licensing and royalty revenues. However, total expenses rose to $17.9 million, leading to a net loss of $18.2 million or $2.23 per share, compared to a net loss of $13.9 million or $3.23 per share the previous year. The company is advancing its gene therapy pipeline, particularly the BB-301 program for Oculopharyngeal Muscular Dystrophy, with clinical trials planned to start in 2023.
Benitec Biopharma Inc. (BNTC) reported its Q3 Fiscal Year 2022 financial results, showing total revenues of $48,000, a significant increase from $1,000 in Q3 2021. The company's operating expenses decreased to $3.5 million, down from $3.79 million in the previous year. Benitec is advancing its BB-301 clinical development program, with key milestones achieved, including the completion of necessary regulatory submissions in France. The first patients are expected to enroll in the BB-301 treatment study by April 2023, following a six-month observational period.
Benitec Biopharma (NASDAQ: BNTC) reported its Q2 financial results for FY 2022. Total revenues increased to $25,000 from $1,000 in Q2 2021, attributed to licensing and royalty income. Operating expenses rose to $4.9 million, up from $3.2 million, primarily driven by higher research and development costs. The net loss for the quarter was $4.8 million, or $0.59 per share. Key developments include successful regulatory interactions supporting the BB-301 clinical program, expected to commence in mid-2022, targeting Oculopharyngeal Muscular Dystrophy.
Benitec Biopharma (BNTC) reported its Q1 fiscal results for the period ending September 30, 2021. The company reported total revenues of $0, down from $55,000 in Q1 2020, primarily due to reduced licensing and royalty revenues. Operating expenses surged to $4.8 million, compared to $2.7 million in the prior year, with research and development costs rising significantly to $2.8 million. The net loss reached $5 million, highlighting a negative EPS of $0.62. Positive updates were shared regarding the BB-301 program, including successful animal studies and planned Phase 1b/2a trials set for 2022.
Benitec Biopharma (NASDAQ: BNTC) provided an operational update and announced its fiscal year 2021 results, ending June 30. Total revenue was $59,000, a decrease from $102,000 in 2020, largely due to the cessation of government grants. Total expenses grew to $13.7 million from $8.4 million the previous year, with significant increases in R&D costs. The net loss was $13.9 million, or $3.23 per share, compared to a loss of $8.3 million, or $8.10 per share in 2020. The firm has $19.8 million in cash as it progresses its gene therapy programs, particularly BB-301 for Oculopharyngeal Muscular Dystrophy.