RCOR - RCOR STOCK NEWS

Rocket Pharmaceuticals, Inc. has announced the acquisition of Renovacor, Inc., aimed at enhancing its leadership in AAV-based cardiac gene therapy. Under the merger terms established on September 19, 2022, Renovacor shareholders received 0.1763 shares of Rocket for each Renovacor share. The acquisition adds Renovacor's leading program, REN-001, targeting BAG3-associated dilated cardiomyopathy, which has no current treatments addressing its underlying causes, to Rocket's pipeline. Renovacor shares ceased trading on the NYSE as of December 1, 2022.

Renovacor, a biotechnology company trading as RCOR, announced that its analytical and biophysical assay results for REN-001 will be showcased at the 29th European Society of Gene & Cell Therapy Congress from October 11-14, 2022, in Edinburgh, Scotland. REN-001 targets BAG3-associated dilated cardiomyopathy, a serious heart condition. The poster presentation, led by Dr. Angela Mohs, is scheduled for October 14, 2022, from 5:30-7:15 p.m. British Summer Time.

Renovacor, a biotechnology firm (NYSE: RCOR), is set to showcase groundbreaking preclinical research at the Keystone Symposia’s Heart Failure Conference from September 28 - October 1, 2022, in Breckenridge, CO. The poster presentation, led by Dr. Valerie Myers, will focus on cardiac dysfunction in a BAG3 haploinsufficiency mouse model of dilated cardiomyopathy. Renovacor aims to develop therapies targeting genetic causes of severe heart failure, enhancing patient lives through innovative precision treatments.

Rocket Pharmaceuticals, Inc. (NASDAQ: RCKT) has announced the acquisition of Renovacor, Inc. (NYSE: RCOR) in an all-stock transaction valued at approximately $2.60 per share. This acquisition aims to enhance Rocket's leadership in AAV-based cardiac gene therapy, targeting BAG3-associated dilated cardiomyopathy, which presents a significant unmet medical need. The deal is expected to close by Q1 2023, pending shareholder and regulatory approvals. Rocket anticipates the acquisition will create strong synergies, adding approximately $38M in projected cash at closing and extending its cash runway into Q2 2024.

Renovacor, NYSE: RCOR, reported a net loss of $4.0 million for Q2 2022, with R&D expenses at $6.3 million. The company aims to submit an IND for REN-001 in H2 2022 and initiate a Phase I/II study for BAG3-associated dilated cardiomyopathy (BAG3-DCM). The peer-reviewed pilot pig study demonstrated effective cardiac transduction with REN-001. Additionally, Renovacor expanded its pipeline via a collaboration with the University of Utah targeting arrhythmogenic cardiomyopathy.

Renovacor has expanded its pipeline by collaborating with the University of Utah to develop an AAV gene therapy for arrhythmogenic cardiomyopathy (ACM). This partnership focuses on three significant genetic segments of ACM: plakophilin-2, desmoglein-2, and desmoplakin. The program aims to restore gap junction protein trafficking and communication among heart muscle cells, addressing life-threatening arrhythmias. The collaboration stems from promising proof-of-concept data demonstrating reduced premature ventricular contractions in genetic mouse models.

Renovacor, Inc. (NYSE: RCOR) announced promising results from a preclinical study of its gene therapy, REN-001, targeting BAG3-associated dilated cardiomyopathy. The study demonstrated effective cardiac transduction in Yucatan pigs via low-dose retrograde coronary sinus infusion (RCSI), achieving clinically therapeutic levels without heart injury. All animals tolerated the procedure well. The publication in JACC: BTS supports further clinical development, with an IND application planned for later this year.

Renovacor (RCOR) reported strong progress in Q1 2022, achieving a net income of $6.6 million, reversing a net loss of $1.7 million in the same period in 2021. The company plans to submit an IND for REN-001 in the second half of 2022, aiming to enter a Phase I/II trial for BAG3-associated dilated cardiomyopathy. R&D expenses surged to $5.9 million, a significant increase from $1.2 million last year, reflecting its commitment to advancing product development.

Renovacor, Inc. (NYSE: RCOR) has appointed Fred Driscoll as its new Chief Financial Officer (CFO), bringing over 25 years of experience in the biotech industry. Driscoll previously served as CFO at Flexion Therapeutics, where he managed a successful IPO and a significant acquisition. His expertise is expected to enhance Renovacor's financial strategy and support the advancement of its lead gene transfer program, REN-001, targeting BAG3-associated dilated cardiomyopathy. The company aims for an IND submission in the second half of this year.