Welcome to our dedicated page for Landos Biopharma news (Ticker: LABP), a resource for investors and traders seeking the latest updates and insights on Landos Biopharma stock.
Landos Biopharma, Inc. (NASDAQ: LABP) is a clinical-stage biopharmaceutical company dedicated to developing novel, oral treatments for patients suffering from autoimmune diseases. The company's mission is to create therapies that are safer, more effective, and less disruptive for patients, addressing significant gaps in current treatment options.
Landos is particularly focused on developing therapies for inflammatory bowel disease (IBD) and its two main forms: Crohn’s disease and ulcerative colitis (UC). The company's lead asset, NX-13, is a first-in-class, oral NLRX1 agonist designed to treat UC. NX-13 has shown promising preclinical results and is currently undergoing a Phase 2 clinical trial (NEXUS) aimed at proving its efficacy and safety. The NEXUS trial, which began in the second quarter of 2023, is actively recruiting and screening patients, with top-line results expected in the fourth quarter of 2024.
Financially, Landos reported cash, cash equivalents, and marketable securities of $44.7 million as of June 30, 2023. This cash reserve is expected to support the company's operations through the first half of 2025. The company’s research and development expenses have decreased to $2.5 million in Q2 2023, primarily due to the winding down of earlier clinical activities and the initiation of the NEXUS trial.
On the corporate front, Landos has formed significant partnerships to enhance its research capabilities. A notable collaboration with KU Leuven aims to explore the effects of NX-13 on UC patient-derived organoid models, providing deeper insights into its mechanism of action and potential clinical benefits.
In a strategic move, Landos announced that it will be acquired by AbbVie Inc. (NYSE: ABBV) for $20.42 per share in cash, plus contingent value rights potentially worth up to $11.14 per share. This acquisition underscores the value and potential of NX-13 and highlights the strength of Landos' research and development efforts. The transaction is expected to close in the second quarter of 2024, subject to customary conditions.
For more information about Landos Biopharma and its groundbreaking work in autoimmune disease treatment, visit www.landosbiopharma.com.
AbbVie has completed its acquisition of Landos Biopharma, enhancing its portfolio with NX-13, a first-in-class oral NLRX1 agonist currently in Phase 2 trials for treating ulcerative colitis (UC) and Crohn's disease (CD). The acquisition, priced at $20.42 per share plus up to $11.14 per share upon achieving a clinical milestone, aims to offer a novel, dual-action treatment approach to inflammatory bowel disease (IBD), combining anti-inflammatory properties and epithelial repair. Landos' stock will stop trading on NASDAQ from May 24, 2024. AbbVie expressed its commitment to transforming the standard of care for IBD patients.
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