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Applied Molecular Transport Inc. (AMTI) is a clinical-stage biopharmaceutical company focused on the development of innovative oral biological therapeutics. Leveraging its proprietary technology platform, AMTI designs novel biologic product candidates in patient-friendly oral dosage forms. Their core expertise lies in mucosal immunology and microbiome-epithelial interfaces, leading to the creation of first-in-class molecules aimed at treating autoimmune, inflammatory, and other grievous diseases, including cancer, metabolic, and hepatologic disorders.
Recent developments highlight AMTI's pursuit of strategic alternatives, with MTS Health Partners, L.P. advising the company. As of June 30, 2023, cash and cash equivalents stood at $22.5 million. The company has undergone significant restructuring, including workforce reductions and the cessation of all research and development activities, reflected in a decrease in R&D expenses from $22.8 million in Q2 2022 to $2.6 million in Q2 2023.
AMTI's most advanced product candidate, AMT-101, has completed four Phase 2 clinical trials. In a strategic move, AMTI has entered a merger agreement with Cyclo Therapeutics, Inc., expected to finalize by the end of 2023. This merger aims to advance Cyclo Therapeutics' pivotal Phase 3 study of Trappsol® Cyclo™ for Niemann-Pick Disease Type C1 (NPC1), with the combined company operating under the Cyclo Therapeutics name and trading on Nasdaq as CYTH.
The merger is anticipated to bolster the combined company's cash position, extending the runway into the second half of 2024, crucial for meeting clinical and regulatory milestones. Shawn Cross, CEO of AMTI, will join the Cyclo Therapeutics Board, ensuring continuity and strategic alignment.
Applied Molecular Transport Inc. (Nasdaq: AMTI) reported financial results for Q3 2021, showing a net loss of $26.0 million, up from $16.8 million year-over-year. R&D expenses rose to $18.4 million due to increased headcount and clinical trial costs, while G&A expenses increased to $7.6 million.
The company is actively enrolling in four Phase 2 trials for AMT-101, with top-line data readouts expected in H1 2022 for several trials. Cash and investments stood at $182.5 million as of September 30, 2021.
Applied Molecular Transport Inc. (Nasdaq: AMTI) will host a virtual Research & Development Day on October 15, 2021, from 11:00 a.m. to 1:00 p.m. ET. The event will showcase the company's novel oral biologics technology platform and provide updates on the four ongoing Phase 2 clinical trials for oral AMT-101. Key opinion leaders in IBD and rheumatology will participate, including Brian G. Feagan and Peter E. Lipsky. Interested individuals can register and access the webcast on the company's website.
Applied Molecular Transport Inc. (Nasdaq: AMTI) announced its participation in several upcoming investor events in September and October 2021. Notable events include the SVB CyberRx Series on September 22-23, a Research & Development Day on October 15, and the Jefferies 2nd Annual Next Generation IBD Therapeutics Summit on October 19. These events will feature key management discussions and expert insights in the biopharmaceutical industry. Live webcasts will be available on AMT's website, with replays accessible for 30 days after.
Applied Molecular Transport Inc. (Nasdaq: AMTI) has appointed Dr. Holly Schachner to its Board of Directors, enhancing its leadership team. Dr. Schachner brings extensive experience in late-stage global clinical development and medical affairs, which will support the company's growth. She previously held senior positions at DoubleRainbow Biosciences and MyoKardia, among others. AMT is developing novel oral biologic therapeutics, including AMT-101 and AMT-126, focusing on treating autoimmune and inflammatory diseases.
Applied Molecular Transport Inc. (Nasdaq: AMTI) provided a corporate update and financial results for Q2 2021, reporting a net loss of $23.6 million. The company is advancing its pipeline, with four Phase 2 trials for AMT-101 expected to yield top-line data in Q4 2021. R&D expenses rose to $16.5 million, while G&A expenses increased to $7.1 million, reflecting higher personnel costs. The successful follow-on offering in April generated approximately $113 million, strengthening the balance sheet with total cash and investments around $200 million.
Applied Molecular Transport (Nasdaq: AMTI) announced that CEO Tahir Mahmood will participate in a fireside chat at Canaccord Genuity’s 41st Annual Growth Conference on August 11, 2021, at 2:30 p.m. ET. A live webcast will be available on the company’s website, with an archived replay accessible for 30 days post-event.
AMT is a clinical-stage biopharmaceutical firm focused on developing oral biologic product candidates for autoimmune and inflammatory diseases using its proprietary technology platform.
Applied Molecular Transport Inc. (AMTI) announced positive Phase 1b results for oral AMT-101 in patients with active ulcerative colitis.
The study demonstrated safety and tolerability, with potential clinical efficacy observed after 14 days at low doses. Key findings included significant reductions in inflammation markers such as CRP and fecal calprotectin, as well as enhancements in beneficial gut bacteria.
The company is advancing into four Phase 2 trials, expecting to release top-line data in late 2021 and 2022.
Applied Molecular Transport Inc. (AMTI) announced that its CEO, Dr. Tahir Mahmood, will participate in a fireside chat at the JMP Securities Life Sciences Conference on June 17, 2021, at 2:00 p.m. ET. The event will be available via live webcast on the company's website, with an archived replay accessible for 30 days post-event. AMTI focuses on developing novel oral biologic product candidates to treat various diseases, leveraging its proprietary technology to facilitate active transport across the intestinal barrier.
Applied Molecular Transport Inc. (Nasdaq: AMTI) will have CEO Tahir Mahmood participate in a fireside chat at the Jefferies Virtual Healthcare Conference on June 4, 2021, at 11:00 a.m. ET. The event will be streamed live on AMT's website, with an archived replay available for 30 days post-event.
AMT is a clinical-stage biopharmaceutical company focused on developing novel oral biologic products to treat various diseases. Their technology leverages natural cellular pathways for transporting therapeutics across the intestinal barrier, aiming to enhance treatment efficacy.
Applied Molecular Transport Inc. (Nasdaq: AMTI) provided a corporate update and first-quarter results for 2021. The company is conducting four Phase 2 trials for oral AMT-101, targeting ulcerative colitis and rheumatoid arthritis, with top-line data expected in late 2021 and 2022. AMT-126, a new oral therapy, has entered Phase 1a trials. Financially, R&D expenses rose to $14.9 million, and G&A expenses increased to $5.6 million, leading to a net loss of $20.5 million. However, the company strengthened its balance sheet with a successful public offering, raising approximately $112.9 million.
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