Eidos Therapeutics reported its Q3 2020 financial results, revealing a net loss of $30.2 million, or $0.79 per share, compared to a net profit of $6.9 million in Q3 2019. The increase in losses is attributed to rising R&D and administrative expenses, totaling $22.6 million and $7.0 million respectively. The company completed enrollment in its Phase 3 ATTRibute-CM clinical study for acoramidis, anticipating top-line results by late 2021 or early 2022. Eidos also announced a merger agreement with BridgeBio Pharma, with expected closing in Q1 2021.
Eidos Therapeutics (Nasdaq: EIDX) announced the addition of two independent directors, Suzanne Sawochka Hooper and Duke Rohlen, to its board. Hooper, a former executive at Jazz Pharmaceuticals, brings extensive leadership experience, while Rohlen has a strong background in medical technology entrepreneurship. They replace outgoing board members Rajeev Shah and Eric Aguiar. The company continues to advance its Phase 3 clinical trial for acoramidis, a potential best-in-class treatment for transthyretin amyloidosis (ATTR), which affects over 400,000 patients worldwide.
Eidos Therapeutics (EIDX) reported Q2 2020 financial results, showing a net loss of approximately $28.8 million ($0.76 per share), up from $14.1 million ($0.39 per share) in Q2 2019. Cash and equivalents stood at $174.8 million. The rise in losses was attributed to increased R&D expenses for acoramidis (formerly AG10), totaling $17.9 million, and general administrative costs reaching $10.3 million. Eidos plans to complete patient enrollment for its Phase 3 trial in ATTR-CM by H1 2021 and initiate ATTR-PN trials in H2 2020.