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VectivBio (Nasdaq: VECT) reported significant achievements in 2022, focusing on its lead product, Apraglutide, aimed at treating severe rare gastrointestinal conditions like short bowel syndrome (SBS-IF) and acute graft-versus-host disease (aGvHD). The company expects to complete enrollment for the STARS Phase 3 study this quarter and anticipates topline data by the end of 2023. Interim results from the STARGAZE Phase 2 program will be available by the end of Q2 2023. Financially, VectivBio enhanced its position with $284 million in new funds and reported a revenue of $27.3 million for 2022 with total cash reserves of $221.4 million. The net loss for the year was $93.7 million, a slight increase from the previous year. The company is set to host a call today to discuss these results further.
VectivBio Holding AG (Nasdaq: VECT) announced that it will report financial results for the year ending December 31, 2022, and provide a business update on April 19, 2023, at 8:00 a.m. ET. The company focuses on developing treatments for severe rare conditions, with its lead product candidate, apraglutide, targeting rare gastrointestinal diseases. They are also advancing the CoMET platform for treating inherited metabolic diseases. A live webcast of the conference call will be available on their website, with an archived replay accessible for 30 days after the event.
This announcement highlights VectivBio's commitment to addressing pressing medical needs in rare conditions while providing timely updates for investors.
VectivBio Holding AG (Nasdaq: VECT) has initiated a Phase 1 clinical study examining the pharmacokinetics, pharmacological activity, safety, and tolerability of apraglutide in healthy Japanese adults. This follows an exclusive licensing agreement with Asahi Kasei Pharma for developing apraglutide, a long-acting GLP-2 analog for serious conditions like short bowel syndrome with intestinal failure and steroid-refractory acute graft-versus-host disease. VectivBio received $30 million upfront, with potential milestones exceeding $170 million and royalties on future sales. The Phase 1 study is essential for filing a marketing application in Japan.
Wouter Joustra Joins VectivBio Board of Directors
On December 9, 2022, VectivBio Holding AG (Nasdaq: VECT) announced the election of Wouter Joustra to its Board of Directors during an Extraordinary General Meeting. Joustra brings extensive capital markets experience from his role at Forbion, a leading life sciences venture capital firm, where he focuses on late-stage life sciences investments. His expertise is expected to support VectivBio's growth strategy. The company is dedicated to developing treatments for severe rare conditions, including gastrointestinal diseases and inherited metabolic disorders.