Welcome to our dedicated page for Neoleukin Therapeutics news (Ticker: NLTX), a resource for investors and traders seeking the latest updates and insights on Neoleukin Therapeutics stock.
Neoleukin Therapeutics, Inc. (symbol: NLTX) is a cutting-edge biopharmaceutical company focused on the development of next-generation immunotherapies. Using advanced de novo protein design technology, Neoleukin creates synthetic proteins with specific pharmaceutical properties designed to treat cancer, inflammation, and autoimmune diseases.
In recent developments, Neoleukin has implemented a reverse stock split, approved by its stockholders at the 2023 Annual Meeting held on June 8, 2023, and executed by the Board on August 30, 2023. This reverse stock split reduces the number of shares of common stock from approximately 44,026,429 to about 8,805,285, while also adjusting the number of authorized shares from 100,000,000 to 20,000,000. While this adjustment affects all stockholders uniformly, it simplifies stock management without altering any stockholder’s ownership percentage, except for those receiving cash in lieu of fractional shares.
As of March 2023, Neoleukin restructured its operations to conserve capital. This strategic move was part of an overarching plan to streamline operations while focusing on its core competencies. The company continues to leverage its sophisticated computational methods to develop proteins with superior therapeutic benefits compared to native proteins. Neoleukin's innovation has positioned it as a leader in the biotechnology sector, providing advanced solutions for complex health challenges.
Furthermore, a proposed merger and its anticipated impacts on the company’s stock and listing on the Nasdaq Capital Market are key topics for investors. The merger is expected to result in a combined total of approximately 13,676,732 shares of outstanding common stock.
For more information, please visit the Neoleukin website or contact Neoleukin's investor relations and media teams at investors@neoleukin.com.
Neoleukin Therapeutics (NASDAQ: NLTX) has engaged SVB Securities to explore strategic alternatives aimed at maximizing shareholder value, which may encompass potential sales, mergers, or divestitures. Additionally, the company announced a workforce reduction of approximately 70% as part of a corporate restructuring to conserve cash amidst challenging capital market conditions. CEO Jonathan Drachman will also step down following a brief transition. Neoleukin's Board highlighted the importance of their immunotherapeutic advancements but deemed the current environment necessitated a reassessment of strategies to bolster shareholder value.
Neoleukin Therapeutics (NASDAQ: NLTX) presented data on NEO-TRA1, a precision-tuned agonist for the IL-2 receptor, at the American Society of Hematology Annual Meeting. This de novo protein technology selectively expands T-regulatory cells, with promising preclinical results showing effective in vitro and in vivo expansion in human models. The company aims to partner with expertise in autoimmune drug development to advance NEO-TRA1 into clinical trials, showcasing its potential as a best-in-class Treg agonist for treating autoimmune conditions.
Neoleukin Therapeutics (NASDAQ:NLTX) announced strategic changes, including the discontinuation of NL-201's development to focus on next-generation protein therapeutics. The decision stems from a review of NL-201's Phase 1 data, suggesting more resources could be allocated effectively elsewhere. The company also approved a restructuring plan, reducing its workforce by about 40%, which aims to extend cash runway into the second half of 2025. As of September 30, 2022, Neoleukin held $106.9 million in cash and reported a net loss of $13.1 million for the quarter.
Neoleukin Therapeutics (NASDAQ:NLTX) announced an oral presentation at the American Society of Hematology (ASH) Annual Meeting scheduled for December 10-13, 2022, in New Orleans. The presentation titled NEO-TRA1 will focus on a CD25-targeted de novo non-Alpha Agonist of the IL-2 receptor, which selectively expands regulatory T cells. The session will take place on December 12, 2022, at 11:45 AM at the Ernest N. Morial Convention Center.
Neoleukin aims to innovate immunotherapies for cancer and autoimmune diseases through advanced protein design technology.
Neoleukin Therapeutics (NASDAQ:NLTX) announced its Q2 2022 financial results and corporate updates. The company had cash and equivalents of $116.5 million as of June 30, 2022, down from $142.5 million at the end of 2021, but believes it has sufficient funds to operate through 2023. R&D expenses rose to $11.0 million due to costs associated with clinical trials for NL-201, while G&A expenses decreased to $4.9 million. Neoleukin is testing NL-201 in advanced solid tumors and has plans for interim results in 2023, showcasing ongoing advancements in its protein therapeutic pipeline.
Neoleukin Therapeutics (NASDAQ:NLTX) is set to present at the Canaccord Genuity 42nd Annual Growth Conference on August 10, 2022, at 1 p.m. Eastern Time. The presentation will feature CEO Jonathan Drachman, M.D., and will be available via webcast on the Neoleukin website. An archived replay will be accessible for 30 days post-event. Neoleukin specializes in developing advanced immunotherapies for cancer and autoimmunity using de novo protein design technology, with lead candidate NL-201 aiming to improve therapeutic tolerability.
Neoleukin Therapeutics (NASDAQ:NLTX) announced it will report its second quarter 2022 financial results on August 9, 2022, following the market's close. A conference call and live audio webcast will be held at 1:30 p.m. Pacific / 4:30 p.m. Eastern. Participants can join via toll-free number (800) 715-9871 with conference ID 4116795. The archived audio will be available for replay on their Investor Relations website shortly after the event.
Neoleukin focuses on developing advanced immunotherapies for cancer and autoimmunity using innovative de novo protein design.
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