Climb Bio Stock Price, News & Analysis

Climb Bio (NASDAQ: CLYM) has appointed Dr. Perrin Wilson as Chief Business Officer. With 17 years of pharmaceutical and biotech industry experience, Dr. Wilson will lead the company's pre-commercial planning, communications, and business development efforts. Prior to joining Climb Bio, she served as Senior Vice President of Business Development and Strategy at Nuvalent and held key positions at Forma Therapeutics/Novo Nordisk.

Dr. Wilson's notable achievements include leading Forma's $1.1 billion acquisition by Novo Nordisk and Takeda's $5.2 billion acquisition of ARIAD. At Climb Bio, she will focus on advancing the company's pipeline, including key assets budoprutug and CLYM116, aimed at developing treatments for immune-mediated diseases.

Climb Bio (Nasdaq: CLYM) has announced its participation in the upcoming Oppenheimer 35th Annual Healthcare Life Sciences Conference, scheduled for February 11-12, 2025. The company's executive team will deliver a presentation on February 12, 2025, at 9:20 a.m. ET.

The virtual conference will feature both a formal presentation and one-on-one investor meetings. The event provides an opportunity for investors and stakeholders to gain insights into Climb Bio's developments and strategic initiatives.

Climb Bio (NASDAQ: CLYM) has secured an exclusive license agreement with Beijing Mabworks Biotech for CLYM116, an anti-APRIL monoclonal antibody, for development and commercialization outside Greater China. The agreement focuses on treating IgA nephropathy, the most common form of glomerulonephritis worldwide.

CLYM116 is engineered to prevent APRIL signaling through a novel mechanism, potentially offering advantages over current APRIL-targeted therapeutics. The company will make a $9 million upfront payment to Mabworks, with additional milestone payments and low- to mid-single digit tiered royalties on net sales.

The company reported $212.9 million in cash and equivalents as of December 31, 2024, expecting to fund operations through 2027. Initial preclinical data for CLYM116 is anticipated later in 2025.

Climb Bio (NASDAQ: CLYM) announced its upcoming addition to the NASDAQ Biotechnology Index (NBI) as part of the 2024 annual index reconstitution. The inclusion will be effective before market open on December 23, 2024. The NBI tracks performance of NASDAQ-listed biotechnology and pharmaceutical securities, using a modified capitalization-weighted methodology. Companies must meet specific eligibility criteria including minimum market capitalization, average daily trading volume, and public company seasoning requirements.

Climb Bio (Nasdaq: CLYM) reported its third quarter 2024 financial results and provided key business updates. Notable achievements include the FDA clearance of their IND for a Phase 1b clinical trial of budoprutug in systemic lupus erythematosus (SLE) and the appointment of Douglas Williams, Ph.D. as Chair of the Board of Directors. The company also expanded its management team by appointing Gary Hao, Ph.D. as Vice President of Chemistry, Manufacturing, and Controls.

Climb Bio's cash position was $217.9 million as of September 30, 2024, expected to fund operations through 2027. R&D expenses increased to $6.2 million, while G&A expenses rose to $5.5 million compared to the same period in 2023. The company reported a net loss of $8.9 million.

Future plans include advancing budoprutug for primary membranous nephropathy (pMN) and immune thrombocytopenia (ITP), with key milestones anticipated in 2025.

Climb Bio (Nasdaq: CLYM) has appointed Douglas E. Williams, Ph.D., as Chair of its Board of Directors, succeeding Andrew Levin, who will remain as a director. Dr. Williams brings over 30 years of executive leadership experience in biotechnology, having contributed to the development of several successful drugs and led multiple companies through development and commercialization. He previously served as President of R&D at Sana Biotechnology, CEO of Codiak BioSciences, and held executive positions at Biogen, ZymoGenetics, Seattle Genetics, Amgen, and Immunex. The company is focused on developing treatments for immune-mediated diseases, including their lead candidate budoprutug.

Climb Bio (Nasdaq: CLYM) has announced its executive team's participation in four major upcoming healthcare investor conferences. The schedule includes appearances at the Guggenheim Securities Healthcare Innovation Conference (Nov 11-12), Stifel Healthcare Conference (Nov 18-19), Piper Sandler Healthcare Conference (Dec 3-5), and Evercore ISI HealthCONx Conference (Dec 3-5). Each event will feature fireside chats and one-on-one investor meetings. All presentations will be webcast live and available for replay on the company's website under the Investors section.

Climb Bio (Nasdaq: CLYM) is hosting a virtual investor event on October 15, 2024, to provide updates on its development strategy for budoprutug, an anti-CD19 monoclonal antibody. The company has completed its transition to focus on immune-mediated diseases and plans to advance budoprutug to late-phase development in primary membranous nephropathy (pMN) by 2025. Clinical trials for systemic lupus erythematosus (SLE) and immune thrombocytopenia (ITP) are planned for the first half of 2025.

Key highlights include:

• Additional promising data from the Phase 1b pMN study
• Potential for deep and durable B-cell depletion
• Advancement of a subcutaneous formulation
• Planned clinical trials in SLE and ITP
• Cash runway through 2027

The company aims to develop treatments for approximately 50 million patients in the U.S. with immune-mediated diseases.

Climb Bio (Nasdaq: CLYM) has announced that it will present data at the American Society of Nephrology Kidney Week 2024, taking place in San Diego, CA from October 23-27, 2024. The presentation will feature a poster titled 'A Phase 1b Single Arm Open-Label Study of Budoprutug, an Anti-CD19 Monoclonal Antibody with Enhanced ADCC, in Primary Membranous Nephropathy'.

The presenter will be Dr. Frank Cortazar, Director of the New York Nephrology Vasculitis and Glomerular Center, Chief of the Division of Nephrology at St. Peter's Hospital, Chief of Clinical Research at St. Peter's Health Partners, and Clinical Scientist at Massachusetts General Hospital. The poster session, focusing on Membranous Nephropathy, FSGS, and Minimal Change Disease, is scheduled for October 24, 2024, from 10:00 a.m. to 12:00 p.m. PT, with the poster board number TH-PO587.