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Stealth BioTherapeutics (Nasdaq: MITO) announced its participation in the 2020 Annual NEALS Meeting, showcasing a poster awarded the UMN/PLS Poster Award. The poster presents data on SBT-272, highlighting its protective effects on upper motor neurons against TDP43 pathology, relevant to neurodegenerative diseases like ALS and Alzheimer's. SBT-272 is a mitochondrial-targeted peptidomimetic that enhances ATP production and reduces reactive oxygen species, demonstrating potential for treating various neurodegenerative conditions. Continued research on SBT-272 is planned following positive preclinical results.
Stealth BioTherapeutics Corp (Nasdaq: MITO), a clinical-stage biotechnology firm, announced CEO Reenie McCarthy's presentations at three upcoming virtual investor conferences in September 2020. The conferences include the H.C. Wainwright 22nd Annual Global Investment Conference on September 14 at 4:30 pm ET, the Cantor Fitzgerald's Virtual Global Healthcare Conference on September 16 at 8:40 am ET, and the Oppenheimer Fall Healthcare Life Sciences & MedTech Summit on September 23 at 1:40 pm ET. Live webcasts will be available on their website.
Stealth BioTherapeutics Corp (Nasdaq: MITO) reported its Q2 2020 financial results, highlighting a net loss of $12.4 million, improved from $15.8 million in Q2 2019. Cash and cash equivalents stood at $31.8 million. R&D expenses decreased to $7.4 million, reflecting strategic repositioning. The firm remains focused on advancing elamipretide for mitochondrial diseases, despite FDA recommendations for additional data prior to NDA submission. Phase 2b trial enrollment in dry AMD is over 75% complete, with full enrollment expected by year-end.
Stealth BioTherapeutics (Nasdaq: MITO) will report its second quarter 2020 financial results on August 6, 2020, before market opening. A conference call is scheduled for 8:30 am ET to discuss the results and provide a business update. The company focuses on developing therapies for mitochondrial dysfunction, with candidates like elamipretide for rare metabolic conditions and SBT-272 for neurodegenerative diseases such as ALS. Investors can access the call via telephone or webcast.
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