Welcome to our dedicated page for Alpine Immune Sciences news (Ticker: ALPN), a resource for investors and traders seeking the latest updates and insights on Alpine Immune Sciences stock.
Founded in 2015, Alpine Immune Sciences, Inc. (NASDAQ: ALPN) is a leading clinical-stage biotechnology company dedicated to developing innovative protein-based immunotherapies to treat autoimmune and inflammatory diseases. Alpine leverages its unique understanding of immunology, particularly recombinant protein-based immunotherapies, to modify the complexities of the immune synapse for the benefit of patients living with cancer, autoimmune disorders, and other diseases.
Alpine's standout product, povetacicept (ALPN-303), is a dual antagonist of the BAFF and APRIL cytokines. This product is currently in phase 2 development and has demonstrated potential best-in-class efficacy for treating IgA nephropathy (IgAN). IgAN is a serious, progressive kidney disease with no approved therapies that target its underlying cause. Povetacicept has exhibited promising results in reducing proteinuria, stabilizing renal function, and reducing key disease-related biomarkers.
Additionally, Alpine has a robust pipeline, including acazicolcept (ALPN-101), a first-in-class dual inhibitor targeting the CD28 and ICOS T-cell costimulatory pathways. This drug is being investigated for treating systemic lupus erythematosus (SLE) and other autoimmune diseases. Alpine's research and development capabilities are enhanced by strategic collaborations with leading global biopharmaceutical companies, propelling its efforts to create multifunctional immunotherapies that improve patients' lives.
The company has been highly productive in the past year, achieving significant milestones, such as the phase 2 study of acazicolcept in SLE, a pivotal phase 3 trial of povetacicept in IgAN planned for the second half of 2024, and successful financial activities supporting ongoing and future development projects.
Alpine Immune Sciences remains committed to innovation, with ongoing studies in various autoimmune diseases and strategic goals aligning with its mission to lead a new wave of immune therapeutics.
Frazier Life Sciences (FLS) has appointed Mitchell H. Gold, M.D., and Stanford L. Peng, M.D., Ph.D., as Venture Partners. Dr. Gold, previously Co-Founder, CEO, and Executive Chairman of Alpine Immune Sciences (ALPN), led the company from inception to its recent $4.9 billion acquisition by Vertex Pharmaceuticals in May 2024. He also founded Alpine Biosciences, which was sold to Cascadian Therapeutics in 2014.
Dr. Peng joins FLS from his role as President and Head of Research and Development at Alpine Immune Sciences, where he led the development of multiple drug candidates, including povetacicept. His experience includes leadership positions at Seagen, Roche, and Stemcentrx. Both appointments aim to strengthen FLS's capabilities in identifying and developing breakthrough biopharmaceutical companies.
Alpine Immune Sciences reported its financial results for the first quarter of 2024, with a cash position of $362.4 million. Vertex Pharmaceuticals will acquire Alpine for $65 per share, expected to close in Q2 2024. Collaboration revenue decreased to $7.0 million, with an increase in research and development expenses to $22.5 million. Net loss for Q1 2024 was $17.9 million.
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