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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.
Landos Biopharma, Inc. (NASDAQ: LABP) announced its fourth quarter and full-year 2022 financial results, revealing a streamlined focus on NX-13, a novel treatment for ulcerative colitis. The company is set to initiate a Phase 2 trial for NX-13 in Q2 2023, with topline results expected by Q4 2024. For the quarter ended December 31, 2022, research and development expenses dropped to $3.4 million from $13.4 million year-over-year, while general and administrative expenses decreased to $3.1 million. The company secured $16.7 million in funding from Perceptive Advisors, projecting cash runway into H1 2025.
Landos Biopharma (NASDAQ: LABP) announced a strategic transaction involving its LANCL portfolio, which includes Omilancor, LABP-104, and LABP-111. The deal transfers these assets to Dr. Josep Bassaganya-Riera, the company's founder, in exchange for $3.0 million in cash and the repurchase of approximately 9.1 million shares, representing 23% of outstanding shares. Landos aims to focus on the clinical development of NX-13, with a Phase 2 trial for Ulcerative Colitis set to begin in Q2 2023. The company will earn a 6% royalty on future sales from the LANCL portfolio and improve its capital structure significantly.
Landos Biopharma is set to initiate its Phase 2 proof-of-concept clinical trial for the NLRX1 agonist NX-13 targeting Ulcerative Colitis in Q2 2023. An abstract detailing Phase 1b study results has been accepted for poster presentation at the ECCO Congress in March 2023. The trial aims to enhance treatment for moderate-to-severe UC patients, with topline data expected by Q4 2024. Landos focuses on developing innovative therapeutics for autoimmune diseases, holding a pipeline of promising drug candidates.
Landos Biopharma has announced key updates in its clinical development, specifically for NX-13, a novel treatment for Ulcerative Colitis. The company is on track to initiate a Phase 2 proof-of-concept trial in Q2 2023 and expects to report topline data by Q4 2024. Additionally, Landos secured $16.7 million in funding, ensuring a cash runway into the first half of 2025. The development strategy emphasizes NX-13 due to its promising prior trial results and aims to transform treatment standards for patients. Other pipeline assets are also positioned for future partnerships.
Landos Biopharma (NASDAQ: LABP) announced a private placement financing, securing $16.7 million through the sale of pre-funded warrants for 30,909,090 shares at $0.54 each. The financing is led by Perceptive Advisors LLC, the company’s largest stockholder, and is expected to close by January 10, 2023. Landos plans to use the proceeds to advance the development of its lead candidate NX-13 and for general corporate purposes. The company expects its cash runway will extend into the first half of 2025.
Landos Biopharma (NASDAQ: LABP) reported its Q3 2022 financial results, highlighting progress in its clinical programs for autoimmune diseases. The company has cash reserves of $48 million, sufficient for operations over the next 12 months. Research and development expenses decreased to $4.9 million from $9.3 million year-over-year, while general administrative costs slightly fell to $3.0 million. Positive results from the NX-13 Phase 1b trial indicate safety and efficacy in ulcerative colitis patients. Landos plans to announce updates on its clinical development strategy soon.
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