Apogee Therapeutics, a clinical-stage biotechnology company, recently released its 10-Q report, offering an insight into its business operations and financial performance. The company, founded in 2022 and headquartered in Waltham, Massachusetts, is focused on developing biologics for the treatment of atopic dermatitis (AD), asthma, chronic obstructive pulmonary disease (COPD), and related inflammatory and immunology indications.
In the 10-Q report, Apogee Therapeutics discussed its pipeline, which comprises four antibody programs being developed initially for the treatment of I&I indications as monotherapies and combinations. The company's most advanced program is APG777, which is being developed for the treatment of AD, the largest and least penetrated I&I market. Additionally, the report outlined the progress of APG777, including the dosing of the first participant in the Phase 1 trial in Australia and the filing of an investigational new drug application in the United States for a Phase 1 trial in healthy volunteers.
Furthermore, the report detailed the development candidate nomination for APG990, the initiation of the Phase 1 trial for APG808, and the plans for APG333. It also highlighted the company's financial status, including its accumulated deficit of $189.7 million as of June 30, 2024, and the significant operating losses incurred since its inception in February 2022. Apogee Therapeutics emphasized that its ability to generate product revenue sufficient to achieve profitability will depend heavily on the successful development and eventual commercialization of any programs it may develop. Following these announcements, the company's shares moved 0.3%, and are now trading at a price of $40.5. If you want to know more, read the company's complete 10-Q report here.
