Puretech Health - PRTC STOCK NEWS

PureTech Health presented new data on LYT-100 at the American Thoracic Society 2022 International Conference, highlighting its improved tolerability profile compared to pirfenidone. The Phase 1 study showed a 38% reduction in adverse events with LYT-100 in healthy older adults. This data supports upcoming registration studies in idiopathic pulmonary fibrosis (IPF), with topline results expected by the end of 2023. Using a 505(b)(2) pathway, PureTech aims to evaluate higher doses to enhance efficacy while retaining safety profiles.

PureTech Health has initiated a $50 million share buyback program, beginning with purchases of ordinary shares up to $25 million. This program aligns with the company's capital allocation strategy aimed at balancing business growth with returning capital to shareholders. Conducted in two tranches, the first will run from May 9, 2022 to May 8, 2023, with a cap of 28,589,874 shares. The buyback serves to bolster shareholder value and fulfill obligations related to employee share options.

PureTech Health has announced a share buyback program of up to $50 million as part of its strategy to enhance shareholder value. Following consultations with shareholders, the company aims to utilize its strong cash reserves, which stood at $413.2 million as of March 31, 2022. The buyback will be limited to $50 million or 28,589,875 shares and will be conducted through open market purchases. This program is aligned with its previous guidance into the first quarter of 2025.

Gelesis' LIGHT-UP clinical trial demonstrated that GS200, an oral superabsorbent hydrogel, effectively aids weight loss in adults with prediabetes or type 2 diabetes. About 60% of participants experienced at least a 5% decrease in body weight, averaging a loss of 11% (about 23 pounds) in just six months. Furthermore, roughly one-third were 'super responders,' losing over 10% of their body weight. The safety profile of GS200 was comparable to the placebo, indicating a promising new avenue in weight management for at-risk populations.

PureTech Health and its Founded Entity, Gelesis Holdings, presented preclinical data at the World of Microbiome Conference in Vienna. The study showed that Gelesis’ proprietary superabsorbent hydrogel, Gel-B, when added to a high-fat diet, positively influenced gut microbiota, enhancing metabolic health indicators such as weight and glucose control. Notably, Gel-B promoted increased growth of Akkermansia muciniphila, beneficial for gut health. The findings suggest Gel-B's therapeutic potential extends beyond mere space occupation in the digestive system.

PureTech Health reported a solid capital base with cash equivalents of $465.7 million as of December 31, 2021. The company has a robust pipeline featuring 27 therapeutics, with 11 clinical trials initiated in 2021. Notably, PureTech's Founded Entities have achieved significant milestones, including FDA marketing approvals for two products. The company is evaluating capital allocation strategies to enhance shareholder value, including potential returns through dividends or buybacks. Its cash runway extends into 2025, supporting ongoing development across its pipeline.

PureTech Health announces the publication of Phase 1a/1b study results for its lead program VE303, a defined bacterial consortium candidate for preventing recurrent Clostridium difficile infection, in Cell Host & Microbe. The study demonstrated VE303's safety and tolerability, highlighting improved colonization dynamics through specific dosing regimens. Positive topline results from the Phase 2 CONSORTIUM trial were previously reported in October 2021, showing a 31.7% absolute risk reduction in recurrence rates. Three abstracts will be presented at Digestive Disease Week 2022.

Vedanta Biosciences announced the publication of Phase 1a/1b study results for VE303, a bacterial consortium candidate for preventing Clostridium difficile infection, in Cell Host & Microbe. The study showed VE303 was well-tolerated and effectively colonized the gut when dosed over multiple days. Preparations for Phase 3 trials are underway following positive topline Phase 2 results published in 2021, which revealed a 31.7% reduction in CDI recurrence rates. Three abstracts related to VE303 and VE202 will be presented at Digestive Disease Week 2022.

PureTech Health announced that Akili’s AKL-T03 digital therapeutic demonstrated a statistically significant improvement in sustained attention in adults with major depressive disorder (MDD) when combined with antidepressant therapy, as published in the American Journal of Psychiatry. The STARS-MDD trial involved 80 adults and showed a 0.005 significance level. This digital therapeutic builds on the technology of EndeavorRx, already FDA-cleared for treating children with ADHD. Akili aims to fill a gap in treating cognitive impairments associated with depression, a condition affecting over 16 million Americans.