ALNA - ALNA STOCK NEWS

Allena Pharmaceuticals, Inc. (NASDAQ: ALNA) has rescheduled its special meeting to vote on a proposed reverse stock split for August 4, 2022. The new record date for the meeting is also July 12, 2022. Key documents, including a new notice and proxy statements, will be mailed to stockholders shortly. The company emphasizes the importance of reviewing these materials for detailed information. Allena has engaged Saratoga Proxy Consulting LLC for proxy solicitation, with a service fee of $25,000.

Allena Pharmaceuticals, Inc. (NASDAQ: ALNA) has announced the rescheduling of its special meeting originally set for July 5, 2022. The meeting will focus on a proposed reverse stock split of its common stock. Details regarding the new meeting date and record date for stockholder voting will be provided in forthcoming proxy materials. Allena Pharmaceuticals is focused on developing oral enzyme therapeutics for rare metabolic and kidney disorders. Stakeholders are encouraged to review the definitive proxy statement and upcoming documents to understand the implications of the proposed restructuring.

Allena Pharmaceuticals, Inc. has entered into a securities purchase agreement to issue approximately 1,436 shares each of Series D and Series E Convertible Preferred Stock, generating gross proceeds of $2.8 million. The preferred shares, convertible into a total of 17,950,860 shares of common stock at $0.16/share, will be offered in a registered direct offering. The company aims to use the proceeds for working capital purposes, potentially including debt repayment. A special stockholder meeting is scheduled to approve a reverse stock split proposal.

Allena Pharmaceuticals (NASDAQ: ALNA) provides a clinical update highlighting the Phase 2a Study 201 of ALLN-346, an oral enzyme for hyperuricemia and gout, showing a significant reduction in serum uric acid (p<0.05) among patients with chronic kidney disease. The study's positive results support further investigation. The company also plans to modify its pivotal URIROX-2 trial for enteric hyperoxaluria and has engaged Stifel for strategic alternatives. Financially, Allena holds approximately $30 million in cash, expected to last into Q1 2022.

Versantis has established a wholly-owned U.S. subsidiary, Versantis, Inc., and appointed Mark J. Fitzpatrick as Chief Executive Officer, effective January 1, 2022. Fitzpatrick, with over 25 years in the biopharma sector, previously held leadership roles at Chiasma and other biotech firms. Co-founder Vincent Forster transitions to Chief Scientific Officer, continuing to guide the company’s scientific initiatives. Versantis focuses on developing treatments for orphan liver and pediatric diseases, including its lead candidate VS-01, aimed at acute-on-chronic liver failure.

Allena Pharmaceuticals (NASDAQ: ALNA) announced participation at the Stifel 2021 Virtual Healthcare Conference scheduled from November 15-17, 2021. Management will present on November 17 at 8:40 a.m. ET, focusing on the company's innovative oral biologic platform for treating difficult metabolic diseases. Their lead product, reloxaliase, is currently in a pivotal Phase 3 trial targeting enteric hyperoxaluria, a condition associated with elevated urinary oxalate levels impacting kidney health. Additional developments include ALLN-346 for hyperuricemia.

Allena Pharmaceuticals (NASDAQ: ALNA) reported significant developments in its clinical programs and financial results for Q3 2021. The company received Fast Track Designation from the FDA for ALLN-346, aimed at treating hyperuricemia and gout in patients with chronic kidney disease. Two Phase 2a trials are underway, with initial data expected in Q1 2022. Allena completed a registered direct offering, raising $28 million. However, the net loss for Q3 2021 increased to $12.7 million, up from $8 million in Q3 2020, reflecting higher R&D expenses.

Allena Pharmaceuticals has announced that its oral enzyme candidate, ALLN-346, targeting hyperuricemia in gout patients with chronic kidney disease (CKD), has received Fast Track designation from the FDA. This designation allows expedited development for drugs addressing unmet medical needs. ALLN-346 is currently in two Phase 2a studies, with initial bioactivity data expected by early 2022. Approximately 500,000 patients in the U.S. suffer from gout and advanced CKD, highlighting the significant medical need for effective treatments.

Allena Pharmaceuticals (NASDAQ: ALNA) has initiated a Phase 2a trial for its investigational drug ALLN-346, aimed at treating gout in patients with chronic kidney disease. The study, which involves 24 participants over two weeks, focuses on the drug's bioactivity and safety. Initial data is expected by early 2022. ALLN-346 is designed to enhance uric acid breakdown in the gastrointestinal tract, addressing significant treatment challenges faced by current medications. Previous Phase 1 studies showed promising safety results with no significant adverse events.