Liminal BioSciences Inc. - LMNL STOCK NEWS

Liminal BioSciences Inc. (Nasdaq: LMNL) has received approval to transfer its common shares from The Nasdaq Global Market to The Nasdaq Capital Market, starting September 6, 2022. This transfer follows a notice from Nasdaq regarding non-compliance with the minimum bid price of $1.00 per share. The company has been granted an additional 180 days until February 27, 2023, to regain compliance, potentially through a reverse stock split. Liminal BioSciences focuses on developing novel therapeutics for inflammatory, fibrotic, and metabolic diseases.

Liminal BioSciences Inc. (Nasdaq: LMNL), a biopharmaceutical company, will present an overview at the H.C. Wainwright 24th Annual Global Investment Conference on September 14, 2022, at 09:30 am ET. CEO Bruce Pritchard will lead the presentation at The Lotte New York Palace. The event runs from September 12-14. Interested parties can access the presentation on the company's website for a week post-event. Liminal BioSciences focuses on developing novel therapeutics for various diseases.

Liminal BioSciences Inc. (Nasdaq: LMNL) announced the immediate termination of its legacy Master Services Agreement related to its former plasma-derived therapeutics business, with expected cash savings of $33.1 million. This decision eliminates all financial commitments related to the agreement, which included a yearly minimum purchase of $9 million. The termination will cost the company $18 million, with payments scheduled over 2023 and 2024. This move aligns with Liminal's strategy to streamline operations and divest non-core assets.

Liminal BioSciences Inc. (Nasdaq: LMNL) reported its Q2 2022 financial results, highlighting a net loss of $6.5 million, a significant reduction from $12.6 million in Q2 2021. The company had cash and equivalents of $55.8 million as of June 30, 2022. Administrative expenses dropped by 46% to $4.6 million primarily due to decreased insurance costs. Notably, the company discontinued the development of fezagepras based on unfavorable clinical trial results, refocusing on its GPR84 and OXER1 antagonist programs.

Liminal BioSciences (Nasdaq: LMNL) announced the discontinuation of fezagepras development following a Phase 1a trial that showed it was inferior to Sodium Phenylbutyrate as a nitrogen scavenger. This decision allows the company to focus on preclinical programs, including GPR84 and OXER1 antagonists targeting inflammatory and metabolic conditions. The CEO, Bruce Pritchard, emphasized that this move aligns with their strategic focus and is not related to safety concerns.

Liminal BioSciences Inc. (Nasdaq: LMNL) announced the results from its Annual General Meeting of Shareholders (AGM) held on June 6, 2022, where 20,209,035 common shares were voted, accounting for 65.10% of the total. All six director nominees were elected, with significant majorities: Simon Best received 98.93% approval. PricewaterhouseCoopers LLP was appointed as auditors. The company, focused on developing new therapeutics for inflammatory and metabolic diseases, is advancing its lead product candidate, fezagepras, currently in clinical trials.

Liminal BioSciences announced the initiation of its Phase 1a clinical trial for fezagepras, with the first subject dosed. This single ascending dose trial aims to compare the safety and pharmacokinetics of fezagepras with Sodium Phenylbutyrate in healthy volunteers. CEO Bruce Pritchard emphasized that the results will determine the future development of fezagepras as a nitrogen scavenger therapy. The trial is part of Liminal's ongoing research into treatments for hyperammonaemia. An update on the trial's outcome is expected in Q3 2022.

Liminal BioSciences (NASDAQ: LMNL) reported its Q1 2022 financial results, highlighting a significant reduction in net loss to $11.2 million from $20.8 million in Q1 2021. The company eliminated $39.1 million in secured loans, freeing its assets for development. Research and development expenses decreased to $4.4 million from $4.9 million, while administration expenses fell by 40% to $4.9 million. A Phase 1a Single Ascending Dose clinical trial for fezagepras is set to begin in Q2 2022.

Liminal BioSciences Inc. (NASDAQ: LMNL) will report its first quarter 2022 financial results after market close on May 10, 2022. Following the release, a conference call is scheduled for 8:30 am ET on May 11, 2022, providing insights into the financial performance. The company focuses on developing novel therapeutics for inflammatory, fibrotic, and metabolic diseases. Its lead candidate, fezagepras, has completed Phase 1 trials, with further clinical trials anticipated in Q2 2022.