angn - ANGN STOCK NEWS

On January 17, 2023, Elicio Therapeutics announced a definitive merger agreement with Angion Biomedica (NASDAQ:ANGN) in an all-stock transaction. The merger aims to create a Nasdaq-listed entity focused on advancing Elicio's proprietary Amphiphile (AMP) technology for cancer immunotherapies, specifically the ELI-002 vaccine targeting mKRAS-driven tumors. ELI-002 is currently in Phase 1 trials for pancreatic ductal adenocarcinoma and colorectal cancer. Following the merger, Elicio's stockholders will own 65.5% of the combined company, while Angion's will hold 34.5%. The merger is slated to close in Q2 2023, subject to stockholder approval.

On December 15, 2022, Angion Biomedica Corp (NASDAQ: ANGN) received a notification from Nasdaq, stating that its common stock closed below $1.00 for 30 consecutive business days. This situation violates the minimum bid price requirement under Nasdaq listing rule 5450(a)(1). Angion has until June 13, 2023, to regain compliance by maintaining a bid price of at least $1.00 per share for 10 consecutive days. The company is actively monitoring its stock price and evaluating options, including a potential reverse stock split, to address this deficiency.

Angion Biomedica Corp (NASDAQ:ANGN) reported its Q2 2022 financial results on August 15, 2022, highlighting significant company developments. Following a reassessment of the ANG-3070 trial, Angion discontinued the JUNIPER Phase 2 trial for kidney diseases, prioritizing patient safety. The company is exploring strategic options with the aid of Oppenheimer & Co. to enhance shareholder value, which may involve mergers, asset sales, or other transactions. Financially, Angion holds $63.4 million in cash and expects to fund operations for at least 12 months. Net loss decreased to $9.1 million from $17.1 million year-over-year.

Angion Biomedica Corp. (NASDAQ:ANGN) announced on July 25, 2022, the initiation of a process to explore strategic options aimed at enhancing shareholder value. Engaging Oppenheimer & Co. as its exclusive financial advisor, Angion may consider various strategies, including mergers, asset sales, and licensing. Additionally, the company will cease development of ANG-3070 and most other projects to conserve cash, which totaled over $60 million at the end of Q2. There are no guarantees that these explorations will lead to successful transactions.

Angion Biomedica Corp. (NASDAQ:ANGN) announced the discontinuation of its JUNIPER Phase 2 trial for ANG-3070, an oral TKI targeting primary proteinuric kidney diseases, due to patient safety concerns. A reassessment revealed a significant decline in kidney function in a participant, prompting the decision to safeguard patient health. Despite the unmet medical need, Angion will deprioritize ANG-3070 for serious kidney conditions while evaluating its potential for idiopathic pulmonary fibrosis. The company expects over $60 million in cash and equivalents by the end of Q2.

Angion Biomedica Corp (NASDAQ:ANGN) reported its financial results for Q1 2022, ending with $73M in cash to fund operations into 2023. Contract revenue increased to $1.6M from $0.4M in 2021. Research and development expenses decreased to $11.7M, while general and administrative expenses fell to $4.5M. The net loss was $14.2M ($0.48 per share), a notable reduction from $36.7M ($1.56 per share) year-over-year. The company continues to advance its ANG-3070 therapy for kidney diseases and idiopathic pulmonary fibrosis, with planned Phase 1b data expected in 2022.

Angion Biomedica Corp. has received FDA acceptance for its IND application, allowing the clinical development of ANG-3070 for idiopathic pulmonary fibrosis (IPF). A Phase 1b trial is set to start, focusing on tolerability, safety, and pharmacokinetic data in IPF patients. ANG-3070, an oral tyrosine kinase inhibitor, targets fibrotic pathways. The trial will include approximately 20 patients and aims to enroll and report data within 2022. Angion's clinical trials and promising preclinical studies signal potential advancements in the treatment of this serious disease.

Angion Biomedica Corp. (NASDAQ:ANGN) announced its participation in the H.C. Wainwright Global Investment Conference on May 24, 2022, at 7:00 AM Eastern Time. President and CEO Dr. Jay Venkatesan will present virtually, and interested parties can access a webcast via Angion's investor website. Angion focuses on developing therapeutics for fibrotic diseases, with its lead candidate, ANG-3070, in a Phase 2 trial targeting kidney diseases. The webcast will be archived for 30 days post-event.

Angion Biomedica Corp. (NASDAQ:ANGN) announced its participation in the upcoming Shareholder Equity Conference, scheduled for April 21, 2022, at 11:30 AM ET. The event will be a virtual fireside chat format, allowing investors to engage directly with management. Angion focuses on developing therapies for fibrotic diseases, with its leading candidate, ANG-3070, currently in a Phase 2 trial for kidney diseases. A webcast of the event will be available on their website, remaining archived for 30 days.