Apogee Therapeutics, a clinical stage biotechnology company, recently released its 10-Q report, showcasing its financial condition and operational progress. The company is focused on developing novel biologics for inflammatory and immunology (I&I) markets, targeting conditions such as atopic dermatitis (AD), asthma, eosinophilic esophagitis (EoE), and chronic obstructive pulmonary disease (COPD).
APG777, an anti-IL13 antibody, demonstrated positive interim safety and pharmacokinetic data, with a half-life of 77 days, supporting potential 3-6 month maintenance dosing in AD. The Phase 2 clinical trial for moderate-to-severe AD is underway, with topline data expected in mid-2025.
APG990, an anti-OX40L antibody, exhibited a half-life of approximately 60 days and favorable safety profile in a Phase 1 trial. The company plans to develop APG777 and APG990 together as a potential first-in-class coformulation for the treatment of AD.
APG333, an anti-TSLP antibody, initiated a Phase 1 trial in healthy volunteers in December 2024, with interim data expected in the second half of 2025. The company plans to study APG777 in combination with APG333 for potential best-in-class efficacy in respiratory conditions.
APG808, an anti-IL4Rα antibody, demonstrated positive interim results in a Phase 1b trial for patients with mild-to-moderate asthma, showing sustained suppression of Type 2 inflammation biomarkers. The optimized PK profile supports potential 2-months or longer maintenance dosing, offering a significant advantage over the current standard of care.
In terms of funding and capital resources, Apogee has raised substantial capital through the issuance of preferred units and sale of common stock, with net proceeds of $315.4 million from its IPO in 2023 and $450.0 million from a public offering in 2024. The company has incurred significant operating losses, with a net loss of $55.3 million for the three months ended March 31, 2025, and an accumulated deficit of $361.3 million as of that date.
Apogee expects to continue incurring increased expenses as it advances its programs through clinical trials, seeks marketing approvals, and establishes a sales and marketing infrastructure. The company's ability to achieve profitability depends on the successful development and commercialization of its programs.
Following these announcements, the company's shares moved -1.38%, and are now trading at a price of $37.29. For the full picture, make sure to review Apogee Therapeutics's 10-Q report.
