Centessa Pharmaceuticals Plc Stock Price, News & Analysis

Centessa Pharmaceuticals plc (Nasdaq: CNTA), a clinical-stage pharmaceutical company, has announced a proposed public offering of $150 million of American Depositary Shares (ADSs). The company plans to grant underwriters a 30-day option to purchase up to an additional $22.5 million of ADSs. Goldman Sachs & Co. , Leerink Partners, Evercore ISI, Guggenheim Securities, and BMO Capital Markets are acting as joint book-running managers for the offering. The offering is subject to market conditions, and there is no guarantee of its completion or final terms. A registration statement on Form S-3 has been filed with the SEC, and a preliminary prospectus supplement will be available.

Centessa Pharmaceuticals (Nasdaq: CNTA) has announced positive interim data from its Phase 1 trial of ORX750, a highly potent and selective orexin receptor 2 (OX2R) agonist, in acutely sleep-deprived healthy volunteers. The 2.5 mg dose of ORX750 restored normative wakefulness with a mean sleep latency of 32 minutes, showing significant improvements compared to placebo. The drug demonstrated a favorable safety and tolerability profile with no observations of common adverse events associated with other OX2R agonists.

Based on these promising results, Centessa plans to rapidly advance ORX750 into Phase 2 studies for narcolepsy type 1 (NT1), narcolepsy type 2 (NT2), and idiopathic hypersomnia (IH) starting in Q4 2024. The company believes ORX750 has the potential to be a best-in-class treatment for sleep-wake disorders, supporting once-daily oral dosing.

Centessa Pharmaceuticals (Nasdaq: CNTA) announced a late-breaking poster presentation at Sleep Europe 2024 for ORX142, their novel orexin receptor 2 (OX2R) agonist. The presentation will showcase non-human primate data demonstrating ORX142's ability to promote wakefulness at low doses in a highly predictive model. This data is significant for ORX142's potential in treating excessive daytime sleepiness (EDS) in select neurological, neurodegenerative, and psychiatric disorders.

The poster, titled "ORX142, an Oral, Highly Potent and Selective Orexin Receptor 2 Agonist, Promotes Wakefulness in Non-Human Primates," will be presented on September 26, 2024. Centessa's CEO, Saurabh Saha, expressed enthusiasm about ORX142 being their second drug candidate showing significant wakefulness-promoting activity at very low doses in preclinical models.

Centessa Pharmaceuticals (Nasdaq: CNTA), a clinical-stage pharmaceutical company, has announced its participation in the Morgan Stanley 22nd Annual Global Healthcare Conference in New York, NY. The company's management team is scheduled for a fireside chat on Wednesday, September 4th at 1:05 PM ET.

Investors and interested parties can access a live audio webcast of the event, as well as an archived recording, through the "Events and Publications" tab on the investor relations section of Centessa's website at https://investors.centessa.com/events-presentations. This participation provides an opportunity for Centessa to showcase its progress in discovering and developing transformational medicines for patients.

Centessa Pharmaceuticals (Nasdaq: CNTA) reported Q2 2024 financial results and business highlights. Key developments include:

1. Initiated Phase 1 clinical study for ORX750, an orexin receptor 2 agonist for sleep-wake disorders.

2. Nominated ORX142 as a development candidate for neurological, neurodegenerative, and psychiatric disorders with excessive daytime sleepiness.

3. Progressing SerpinPC registrational program for hemophilia B treatment.

4. Completed public offering, raising net proceeds of $107.3 million.

5. Cash position of $294.8 million as of June 30, 2024, expected to fund operations into mid-2026.

6. Q2 2024 net loss of $43.8 million, compared to $24.9 million in Q2 2023.

Centessa Pharmaceuticals (Nasdaq: CNTA) has bolstered its executive team with the appointment of John Crowley CPA as Chief Financial Officer (CFO) and Gregory Weinhoff MD MBA as Chief Business Officer (CBO), effective June 10, 2024. Crowley, with over 20 years of experience in life sciences finance, previously served as CFO of Fusion Pharmaceuticals and Merus. Weinhoff, formerly Centessa's CFO, has over two decades of business development expertise and co-founded Arvelle Therapeutics. He has led significant financial and strategic initiatives in the pharmaceutical sector. These appointments aim to strengthen Centessa's financial strategy and business development as it advances its core clinical programs.

Centessa Pharmaceuticals (Nasdaq: CNTA) announced its participation in upcoming investor conferences. Members of its management team will present at the Jefferies Global Healthcare Conference on June 6, 2024, in New York, NY, and at the Goldman Sachs 45th Annual Global Healthcare Conference on June 11, 2024, in Miami, FL. Participants can access live webcasts and archived recordings of these events through the company's investor relations website.

Centessa Pharmaceuticals (Nasdaq: CNTA) reported its Q1 2024 financial results and business highlights. Key updates include the initiation of a Phase 1 clinical trial for ORX750, an orexin receptor 2 agonist for narcolepsy, and ongoing registrational studies for SerpinPC in hemophilia B. The company completed a public offering, raising $107.2 million, extending its cash runway to mid-2026. Financially, Centessa reported a net loss of $38 million for Q1 2024, down from $50.7 million in Q1 2023. R&D and administrative expenses also saw reductions, with R&D at $22.7 million and G&A at $13.4 million.