Welcome to our dedicated page for NeuBase Therapeutics news (Ticker: NBSE), a resource for investors and traders seeking the latest updates and insights on NeuBase Therapeutics stock.
NeuBase Therapeutics, Inc. (NASDAQ: NBSE) is a biotechnology company pioneering a modular antisense technology platform aimed at addressing rare genetic diseases caused by mutant proteins. By leveraging a cohesive and highly precise approach, NeuBase's platform offers significant improvements over traditional gene silencing therapies. Combining the benefits of synthetic methodologies with the accuracy of antisense technologies, NeuBase is positioned to revolutionize treatments for genetic disorders.
The company's primary focus lies in tackling repeat expansion disorders, with initial programs targeting Huntington's disease and myotonic dystrophy, along with dominant genetic disorders. Their innovative platform aims to provide solutions for conditions that currently lack effective treatments.
In recent developments, NeuBase has garnered attention from the investment community. On September 6, 2023, Symetryx Corporation announced its acquisition of 20% of NeuBase's issued and outstanding common stock. Both companies are engaged in strategic discussions to optimize value for NeuBase's shareholders. With a reported cash balance of $14.7 million as of June 30, 2023, NeuBase is also considered an attractive candidate for potential mergers or acquisitions.
NeuBase is actively undergoing a strategic review to explore the best paths forward, including potential mergers, acquisitions, special dividends, or other means to maximize shareholder value. The largest shareholder, Symetryx, is committed to working closely with NeuBase to ensure judicious use of the company's assets during this process.
For more information, investors can contact Dan Ferry, Managing Director at LifeSci Advisors, LLC, at daniel@lifesciadvisors.com, or Todd Branning, Chief Financial Officer at NeuBase, at tbranning@neubasetherapeutics.com. Media inquiries can be directed to media@neubasetherapeutics.com.
NeuBase Therapeutics (Nasdaq: NBSE) reported its Q1 fiscal 2023 results on February 14, 2023. The company had approximately $17.4 million in cash and cash equivalents, down from $23.2 million in the prior quarter, sufficient to fund operations into Q2 2024. They reported a net loss of $4.4 million or $0.13 per share, an improvement from a $7.7 million loss or $0.24 per share year-over-year. NeuBase is advancing its PATrOL™ platform for gene editing, announcing collaborations and research agreements with global healthcare companies focused on genetic diseases. The company plans to disclose more data and progress throughout 2023.
NeuBase Therapeutics (Nasdaq: NBSE) announced its financial results for the fiscal year ending September 30, 2022, reporting a net loss of $33.8 million, or $1.04 per share, up from a $25.4 million loss in the previous year. As of September 30, 2022, cash reserves were approximately $23.2 million. The company is reducing investments in gene silencing programs while exploring partnerships to advance its developmental pipeline. NeuBase aims to enhance its gene editing technology platform, PATrOL™, which shows promise in treating genetic diseases through precise mutation correction.
NeuBase Therapeutics (Nasdaq: NBSE) has entered a research agreement with a Top 10 Global Healthcare company to evaluate its PATrOL™ technology for three monogenic genetic diseases. The PATrOL™ platform aims to address genetic disorders by using PNA-based gene editing, which is designed to increase fidelity and reduce immunogenicity compared to traditional methods like CRISPR-Cas9. The collaboration will explore novel drug candidates, providing the Healthcare Company with potential exclusive licensing opportunities based on the evaluation outcomes.
NeuBase Therapeutics (Nasdaq: NBSE) has announced a major restructuring aimed at enhancing cash flow and shareholder value. Key measures include a workforce reduction of approximately 60% and a focus on its gene editing platform while cutting back on R&D for myotonic dystrophy type 1 and Huntington's disease programs. The company expects this cost-saving plan to extend its cash runway into Q2 CY2024. CEO Dietrich A. Stephan emphasized the intention to prioritize advancements in gene editing technology, which is anticipated to improve the company’s long-term prospects.
NeuBase Therapeutics (Nasdaq: NBSE) announced participation in Chardan’s 6th Annual Genetic Medicines Conference on October 3-4, 2022, in New York City. Management will engage in a fireside chat on October 3rd from 9:00 AM to 9:25 AM ET. The presentation will be accessible via webcast, with a replay available for 90 days. NeuBase is focused on innovative precision genetic medicines, leveraging its proprietary PATrOL™ platform to target disease-causing mutations in serious conditions.
NeuBase Therapeutics (NBSE) reported progress in its myotonic dystrophy type 1 (DM1) and Huntington's disease (HD) programs, showcasing promising pharmacokinetics and biodistribution data at the ASGCT Annual Meeting. The company plans further preclinical studies, delaying the Investigational New Drug (IND) submission for DM1 to mid-2023. Financially, NeuBase had $29.8 million in cash as of June 30, 2022, with a net loss of $8.5 million for the quarter. Its total operating expenses decreased slightly from the previous year.
NeuBase Therapeutics (NASDAQ: NBSE) announced the promotion of Dr. William Mann to President, effective immediately. Dr. Mann, who will also retain his role as Chief Operating Officer, has been integral to advancing NeuBase's PATrOL™ platform since joining in July 2020. His previous leadership roles include transforming Helsinn Therapeutics U.S. into a profitable entity. NeuBase focuses on developing precision genetic medicines aimed at addressing genetic disorders, including myotonic dystrophy and KRAS-driven cancers.
FAQ
What is the current stock price of NeuBase Therapeutics (NBSE)?
What is the market cap of NeuBase Therapeutics (NBSE)?
What does NeuBase Therapeutics, Inc. specialize in?
Which diseases is NeuBase currently targeting?
What recent developments have occurred at NeuBase?
What is the financial condition of NeuBase Therapeutics?
Who are the main points of contact for investors and media?
What strategic options is NeuBase exploring?
How does NeuBase’s platform improve upon existing treatments?
Why is NeuBase’s antisense technology considered groundbreaking?
How will the strategic review impact NeuBase’s future?
What role does Symetryx Corporation play in NeuBase’s future?
