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 appointed Holly K. Vance as General Counsel. Ms. Vance previously served as Associate General Counsel at the Bill & Melinda Gates Foundation, focusing on life sciences investments. She has extensive legal experience from her time at K&L Gates LLP in corporate and securities law. CEO Jonathan Drachman expressed enthusiasm for Vance's leadership and expertise, which are expected to enhance Neoleukin's strategic initiatives during a pivotal time for the company. Vance holds multiple degrees from the University of Washington.
Neoleukin Therapeutics, Inc. (NASDAQ:NLTX) appointed Martin Babler to its Board of Directors, bringing extensive biopharmaceutical experience. Previously CEO of Principia Biopharma, Babler played a crucial role in its $3.7 billion acquisition by Sanofi. His expertise in commercial development and protein therapeutics is expected to enhance Neoleukin's clinical initiatives, especially in de novo protein design. Babler's background includes leadership positions at Genentech and Eli Lilly, positioning him to contribute significantly as Neoleukin advances its lead candidate, NL-201, aimed at improving treatment for cancer and autoimmune diseases.
Neoleukin Therapeutics, a biopharmaceutical company listed on NASDAQ as NLTX, announced that its CEO, Jonathan Drachman, will present at the H.C. Wainwright 22nd Annual Global Investment Conference on September 16, 2020, at 9:30 a.m. Eastern Time. A live audio webcast of the presentation will be available on Neoleukin's investor website, with an archived replay accessible for at least 30 days after the event. Neoleukin focuses on developing next-generation immunotherapies for cancer and other conditions using advanced protein design technology.
Neoleukin Therapeutics (NASDAQ: NLTX) reported a net loss of $9.7 million for Q2 2020 compared to breakeven in Q2 2019, largely due to increased R&D expenses related to its lead candidate NL-201. The company completed a follow-on offering raising $71.4 million to support its clinical plans. NL-201, an IL-2 and IL-15 agonist, is set for IND submission in Q4 2020. Preclinical data shows NL-201 effectively stimulates cancer-fighting cells, with potential benefits across various cancers. Neoleukin's cash position stood at $129.6 million as of June 30, 2020, expected to fund operations through 2023.
Neoleukin Therapeutics (NASDAQ: NLTX) announced participation in a fireside chat at the Canaccord Genuity 40th Annual Growth Conference on August 13, 2020, at 8:30 a.m. ET. The session will be available via live audio webcast on Neoleukin's investor website, with an archived replay accessible for 30 days post-event. Neoleukin is pioneering next-generation immunotherapies using de novo protein design technology and is developing NL-201, an IL-2 and IL-15 agonist aimed at enhancing tolerability and effectiveness.
Neoleukin Therapeutics (NASDAQ: NLTX) plans to report its second quarter 2020 financial results on August 12, 2020, following the market close. A conference call and webcast will be held at 1:30 p.m. Pacific / 4:30 p.m. Eastern to discuss these results and provide an update on corporate activities. The archived webcast will be available on Neoleukin's website for at least 30 days. Neoleukin focuses on creating next-generation immunotherapies for cancer, inflammation, and autoimmunity using advanced protein design technology.
Neoleukin Therapeutics (NLTX) plans to offer up to 5 million shares of common stock and pre-funded warrants in an underwritten public offering, with an additional 750,000 shares available underwriters’ option. The net proceeds will be directed towards advancing the development of NL-201, expanding protein design technology, preclinical pipeline efforts, and general corporate purposes. BofA Securities, Piper Sandler, and Guggenheim Securities are managing the offering. This announcement comes amid ongoing market uncertainties.
Neoleukin Therapeutics (NASDAQ: NLTX) presented promising preclinical data on its lead immunotherapy candidate, NL-201, at the AACR Virtual Annual Meeting II. The data highlights NL-201’s ability to stimulate and expand CD8 T cells and NK cells, demonstrating durable anti-tumor activity across various tumor types. Notably, NL-201 showed minimal immunogenicity and was well-tolerated in non-human primates. The company plans to advance NL-201 into clinical trials, with IND-enabling activities on track for submission by the end of 2020. Neoleukin will host an Investor R&D Showcase on June 23.
Neoleukin Therapeutics (NASDAQ: NLTX) announced the appointment of Erin Lavelle to its Board of Directors, bringing over 20 years of biopharmaceutical experience. Lavelle, previously COO of Alder Biopharmaceuticals, will succeed Sean Nolan, who stepped down after years of service. CEO Jonathan Drachman praised Lavelle's operational expertise as vital for advancing their de novo protein design technology and preparing for upcoming clinical trials. Neoleukin focuses on innovative immunotherapies using computational methods for better therapeutic outcomes.
FAQ
What is the market cap of Neoleukin Therapeutics (NLTX)?
What does Neoleukin Therapeutics, Inc. do?
What is the recent reverse stock split about?
How does the reverse stock split affect stockholders?
Why did Neoleukin restructure its operations?
What are the notable technologies used by Neoleukin?
What is the impact of the proposed merger on Neoleukin's stock?
How can investors contact Neoleukin Therapeutics?
What is the significance of the de novo protein design technology?
Does the reverse stock split affect the company’s Nasdaq listing?
Where can I find more information about Neoleukin's recent developments?
