Climb Bio, Inc. - CLYM STOCK NEWS

Climb Bio (Nasdaq: CLYM) reported its third quarter 2024 financial results and provided key business updates. Notable achievements include the FDA clearance of their IND for a Phase 1b clinical trial of budoprutug in systemic lupus erythematosus (SLE) and the appointment of Douglas Williams, Ph.D. as Chair of the Board of Directors. The company also expanded its management team by appointing Gary Hao, Ph.D. as Vice President of Chemistry, Manufacturing, and Controls.

Climb Bio's cash position was $217.9 million as of September 30, 2024, expected to fund operations through 2027. R&D expenses increased to $6.2 million, while G&A expenses rose to $5.5 million compared to the same period in 2023. The company reported a net loss of $8.9 million.

Future plans include advancing budoprutug for primary membranous nephropathy (pMN) and immune thrombocytopenia (ITP), with key milestones anticipated in 2025.

Climb Bio (Nasdaq: CLYM) has appointed Douglas E. Williams, Ph.D., as Chair of its Board of Directors, succeeding Andrew Levin, who will remain as a director. Dr. Williams brings over 30 years of executive leadership experience in biotechnology, having contributed to the development of several successful drugs and led multiple companies through development and commercialization. He previously served as President of R&D at Sana Biotechnology, CEO of Codiak BioSciences, and held executive positions at Biogen, ZymoGenetics, Seattle Genetics, Amgen, and Immunex. The company is focused on developing treatments for immune-mediated diseases, including their lead candidate budoprutug.

Climb Bio (Nasdaq: CLYM) has announced its executive team's participation in four major upcoming healthcare investor conferences. The schedule includes appearances at the Guggenheim Securities Healthcare Innovation Conference (Nov 11-12), Stifel Healthcare Conference (Nov 18-19), Piper Sandler Healthcare Conference (Dec 3-5), and Evercore ISI HealthCONx Conference (Dec 3-5). Each event will feature fireside chats and one-on-one investor meetings. All presentations will be webcast live and available for replay on the company's website under the Investors section.

Climb Bio (Nasdaq: CLYM) is hosting a virtual investor event on October 15, 2024, to provide updates on its development strategy for budoprutug, an anti-CD19 monoclonal antibody. The company has completed its transition to focus on immune-mediated diseases and plans to advance budoprutug to late-phase development in primary membranous nephropathy (pMN) by 2025. Clinical trials for systemic lupus erythematosus (SLE) and immune thrombocytopenia (ITP) are planned for the first half of 2025.

Key highlights include:

• Additional promising data from the Phase 1b pMN study
• Potential for deep and durable B-cell depletion
• Advancement of a subcutaneous formulation
• Planned clinical trials in SLE and ITP
• Cash runway through 2027

The company aims to develop treatments for approximately 50 million patients in the U.S. with immune-mediated diseases.

Climb Bio (Nasdaq: CLYM) has announced that it will present data at the American Society of Nephrology Kidney Week 2024, taking place in San Diego, CA from October 23-27, 2024. The presentation will feature a poster titled 'A Phase 1b Single Arm Open-Label Study of Budoprutug, an Anti-CD19 Monoclonal Antibody with Enhanced ADCC, in Primary Membranous Nephropathy'.

The presenter will be Dr. Frank Cortazar, Director of the New York Nephrology Vasculitis and Glomerular Center, Chief of the Division of Nephrology at St. Peter's Hospital, Chief of Clinical Research at St. Peter's Health Partners, and Clinical Scientist at Massachusetts General Hospital. The poster session, focusing on Membranous Nephropathy, FSGS, and Minimal Change Disease, is scheduled for October 24, 2024, from 10:00 a.m. to 12:00 p.m. PT, with the poster board number TH-PO587.

Climb Bio (Nasdaq: CLYM) has announced its participation in William Blair's Transforming Autoimmune Diseases by Targeting CD19 event. The company will present and host investor meetings at this conference, which is scheduled for Wednesday, October 16, 2024, in New York, NY.

This event focuses on innovative approaches to treating autoimmune diseases, specifically targeting CD19. Climb Bio's involvement suggests their work aligns with this cutting-edge area of medical research. The conference provides an opportunity for Climb Bio to showcase their developments and engage with investors interested in advancements in autoimmune disease treatments.

Climb Bio (Nasdaq: CLYM) has announced a virtual investor event scheduled for October 15, 2024. The event will feature presentations from key management team members and an external expert, providing updates on the company's strategy and focus on developing therapeutics for immune-mediated diseases.

Presenters will include Aoife Brennan (President and CEO), Stephen Thomas (Board Member), Jan Hillson (Senior Clinical Advisor), Nishi Rampal (SVP of Clinical Development), Brett Kaplan (COO), and Frank Cortazar (Director of the New York Nephrology Vasculitis and Glomerular Center).

The event will offer an in-depth review of Climb Bio's lead asset, budoprutug, an anti-CD19 monoclonal antibody designed to treat various immune-mediated diseases. Budoprutug has shown B-cell depletion in early clinical trials. A live webcast and replay will be available on the company's website.