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.
Landos Biopharma has appointed Dr. Fabio Cataldi as Chief Medical Officer, effective September 5, 2022. Dr. Cataldi brings over two decades of experience in drug development within gastroenterology and immunology, having held senior positions at notable companies like Arena Pharmaceuticals and AbbVie. His expertise will support Landos in advancing its pipeline, particularly NX-13, which recently showed positive Phase 1b trial results for ulcerative colitis patients. The leadership change is seen as pivotal as the company reviews its clinical development strategy.
Landos Biopharma announced positive results from its NX-13 Phase 1b trial for ulcerative colitis, showing a favorable safety profile and early efficacy signals. The company plans to initiate a Phase 2 proof of concept trial. For Q2 2022, Landos reported cash resources of $55.8 million, sufficient for at least 12 months, and a decrease in research and development expenses to $6.6 million, down from $11.5 million in Q2 2021. General administrative expenses increased to $4.7 million, reflecting higher employee-related costs.
Landos Biopharma (NASDAQ: LABP) announced positive top-line results from its Phase 1b clinical trial of NX-13, a novel treatment for ulcerative colitis. The trial demonstrated a favorable safety and tolerability profile with no serious adverse events reported across multiple dose levels. Early signals of clinical improvement were noted as soon as two weeks into the trial. Based on these encouraging results, the company plans to initiate a Phase 2 clinical trial to further evaluate NX-13's efficacy and optimal dosing in ulcerative colitis patients.
Landos Biopharma (NASDAQ: LABP) has appointed Gregory Oakes as President and CEO, effective immediately. Oakes brings over 25 years of pharmaceutical experience, previously serving at Vifor Pharma and Amgen, among others. The company remains on track to finalize clinical development plans for key product candidates, including omilancor and LABP-104, later this year. Chairman Chris Garabedian highlighted Oakes' strong background in inflammation and immunology, aiming to deliver value for shareholders and improve patient outcomes in autoimmune diseases.
Landos Biopharma (NASDAQ: LABP) reported strong progress in its clinical development, with planned updates by mid-2022 for NX-13 and LABP-104 Phase 1 trials. The company is finalizing development plans to enhance value for patients and shareholders. As of March 31, 2022, LABP had approximately $73.8 million in cash and equivalents, funding operations through 2023. Research and development expenses rose to $10.8 million, up from $7.3 million year-over-year, driven by ongoing clinical activities.
Landos Biopharma announced progress in clinical development, including plans for a Phase 2b study of omilancor in ulcerative colitis, scheduled for later this year. They completed enrollment of the Phase 1b trial for NX-13 and the Phase 1a trial for LABP-104, with top-line results expected in mid-2022. The company reported a cash position of approximately $91 million, sufficient to fund operations until the second half of 2023. However, they faced increased R&D and administrative expenses, leading to a net loss of $38.4 million for the full year 2021.
Landos Biopharma (NASDAQ: LABP) announced the appointment of Roger Adsett to its Board of Directors, effective March 8, 2022. Mr. Adsett, a seasoned professional with nearly 30 years in the healthcare sector, will also serve on the Audit Committee. His experience includes pivotal roles at Insmed, Shire, and AstraZeneca, focusing on Inflammatory Bowel Disease (IBD) and Gastrointestinal therapeutics. The company plans to release its Q4 2021 financial results and update on clinical development efforts on March 24, 2022.
Landos Biopharma (NASDAQ: LABP) reported third-quarter financial results, highlighting $102.7 million in cash and equivalents, projected to sustain operations until late 2023. The company is refining its clinical development plans, particularly for omilancor in ulcerative colitis and Crohn’s disease, while also advancing NX-13 and LABP-104. Research and development expenses rose to $9.3 million, reflecting ongoing trials. Landos aims for regulatory approval by focusing on high-impact clinical programs to enhance shareholder value.
Landos Biopharma Inc. (NASDAQ: LABP) will announce its third quarter 2021 financial results on November 15, 2021. Following the announcement, the company will host a live webcast at 8:00 am ET for a corporate update, accessible via its investor relations website or through phone dial-in options.
Landos Biopharma focuses on developing innovative oral therapeutics for autoimmune diseases using its LANCE® Advanced A.I. platform. Its lead candidates include omilancor for ulcerative colitis and NX-13, aimed at the same condition, along with LABP-104 targeting systemic lupus erythematosus.
Landos Biopharma (NASDAQ: LABP) announced leadership changes effective Nov. 8, 2021. Josep Bassaganya-Riera has stepped down as Chairman, President, and CEO, with Tim M. Mayleben appointed as Interim President and CEO. Chris Garabedian becomes Chairman of the Board. The transition aligns with the company's growth phase and strategic focus on advancing its pipeline of oral therapeutics for autoimmune diseases. The Board will begin the search for a permanent CEO, aiming for someone with substantial clinical development experience to lead future initiatives.
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