ALNA - ALNA STOCK NEWS

Allena Pharmaceuticals (NASDAQ:ALNA) announced an inducement stock option grant for a new employee, consisting of 55,000 shares at an exercise price of $1.28. This grant, aligned with NASDAQ Listing Rule 5635(c)(4), will vest over four years. Allena is focused on developing oral enzyme therapeutics for rare metabolic and kidney disorders, with its lead candidate, reloxaliase, in a pivotal Phase 3 trial for enteric hyperoxaluria. The company is also advancing ALLN-346 for hyperuricemia related to gout.

Allena Pharmaceuticals (NASDAQ:ALNA) announced the granting of inducement awards to four new employees. A total of 239,000 stock options were issued on April 5, 2021, with an exercise price set at $1.32 per share. The options vest over four years and are part of Allena's 2021 Inducement Plan, aimed to enhance recruitment. Allena is focused on developing first-in-class oral enzyme therapeutics for rare metabolic and kidney disorders, with its lead candidate, reloxaliase, currently in a pivotal Phase 3 trial for enteric hyperoxaluria.

Allena Pharmaceuticals, Inc. (NASDAQ: ALNA) appointed Mark J. Fitzpatrick to its board of directors. Fitzpatrick, an experienced executive with over 30 years in the biopharmaceutical sector, brings valuable expertise, having previously led financial strategies at various companies, including securing FDA approval for MYCAPSSA. His appointment coincides with the announced departure of long-standing board members James Topper and Andrew Hack, who won't seek re-election. Fitzpatrick aims to advance the Phase 3 URIROX-2 trial and support the development of the company’s lead candidate, reloxaliase, targeting enteric hyperoxaluria.

Allena Pharmaceuticals (NASDAQ:ALNA) reported progress on its clinical trials and financial results for 2020. The pivotal Phase 3 URIROX-2 trial for reloxaliase is ongoing, with an interim analysis expected in mid-2022. The company is also advancing ALLN-346 into Phase 1 and 2 trials for hyperuricemia and gout. Key management additions include David Clark as Chief Medical Officer and Richard Katz as Chief Financial Officer. Financially, R&D expenses decreased to $20.4 million in 2020, with a net loss of $32.8 million, down from $47.3 million in 2019.

Allena Pharmaceuticals (NASDAQ: ALNA) announced participation in two investor conferences in March 2021. The first is Cowen’s 41st Annual Health Care Conference, where CEO Louis Brenner, M.D. will discuss kidney disease on March 3, 2021, at 3:20 p.m. ET. The second is the H.C. Wainwright Global Life Sciences Conference, featuring a pre-recorded corporate overview available on March 9, 2021, at 7:00 a.m. ET. Both events will facilitate one-on-one meetings with management. Allena focuses on first-in-class oral enzyme therapeutics for rare metabolic and kidney disorders.

Allena Pharmaceuticals (NASDAQ: ALNA) announced participation in two investor conferences in January 2021. CEO Louis Brenner will host a pre-recorded fireside chat available on-demand from January 11, 2021, at 6:00 a.m. ET during the H.C. Wainwright Bioconnect 2021 Conference. Additionally, he will present at the 15th Annual Stern IR Corporate Access Event, with a corporate overview available from 7:00 a.m. ET on the same day. One-on-one meetings will occur from January 11-14, 2021. Presentations can be viewed on their website.

Allena Pharmaceuticals (NASDAQ: ALNA) announced an increase in its public offering to 10.4 million shares at $1.25 each, aiming to raise approximately $13 million before expenses. The offering is set to close around December 4, 2020. H.C. Wainwright & Co. is the sole manager of the offering, which allows for an additional purchase option of 1.56 million shares. Proceeds will be used for working capital and corporate purposes. This follows ongoing development of Allena's lead product, reloxaliase, for treating metabolic disorders, and highlights potential funding challenges ahead.

Allena Pharmaceuticals (NASDAQ: ALNA) has announced an underwriting agreement with H.C. Wainwright & Co. for the firm purchase of 8 million shares at $1.25 each. The offering, expected to close on December 4, 2020, could yield approximately $10 million in gross proceeds. Allena intends to use the capital for working capital and corporate purposes. Additionally, H.C. Wainwright has a 30-day option to purchase an extra 1.2 million shares. Allena is focused on developing oral enzyme therapeutics for rare metabolic and kidney disorders, specifically reloxaliase for enteric hyperoxaluria.

Allena Pharmaceuticals (NASDAQ: ALNA) has appointed Dr. David J. Clark as Chief Medical Officer, effective immediately, succeeding Dr. Annamaria Kausz who will advise the company. Dr. Clark brings over 20 years of experience in clinical development, previously serving as Chief Medical Officer at Aldeyra Therapeutics and Wilson Therapeutics. His expertise will support the advancement of Allena's products, including reloxaliase, currently in Phase 3 trials for enteric hyperoxaluria, and ALLN-346, planned for Phase 1b and Phase 2 studies in 2021.