Welcome to our dedicated page for Reneo Pharmaceuticals news (Ticker: RPHM), a resource for investors and traders seeking the latest updates and insights on Reneo Pharmaceuticals stock.
Reneo Pharmaceuticals, Inc. (Nasdaq: RPHM) is a clinical-stage pharmaceutical company focused on developing therapies for patients with rare genetic mitochondrial diseases. These disorders often involve problems with cellular energy production due to mitochondrial dysfunction. Reneo's mission is to enhance the daily function and quality of life of these patients by improving mitochondrial performance, preserving muscle function, and preventing muscle injury and wasting.
The company's lead candidate, mavodelpar (REN001), is a potent and selective agonist of the peroxisome proliferator-activated receptor delta (PPARδ). Mavodelpar aims to modulate genes crucial to metabolism and ATP production, which is the primary energy source for cellular processes. Despite recent setbacks, including the STRIDE study not meeting its primary or secondary efficacy endpoints, Reneo remains dedicated to pioneering treatments for complex rare diseases.
Reneo's experienced team of drug development experts has a strong track record of collaboration in successful programs. They are currently fine-tuning their focus following the suspension of mavodelpar development. The recent merger with OnKure, Inc., a clinical-stage biopharmaceutical company specializing in oncology, marks a pivotal step. This merger aims to leverage OnKure's innovative pipeline of precision medicines targeting oncogenic mutations, particularly in breast cancer treatment.
Financially, Reneo reported a net loss of $23.6 million for Q4 2023 but maintains a robust cash reserve, which stood at $103.0 million as of December 31, 2023. The anticipated merger with OnKure is expected to bring approximately $120 million in cash resources, providing substantial runway for future clinical milestones and product development.
For ongoing updates and detailed information about their programs and financial performance, investors are encouraged to visit www.reneopharma.com.
Reneo Pharmaceuticals (NASDAQ: RPHM) announced significant changes to its Board of Directors. Paul W. Hoelscher, CFO of Horizon Therapeutics, has joined the Board and will lead the Audit Committee. Concurrently, Kenneth Harrison has resigned, and Lon Cardon will not seek re-election due to his new role at The Jackson Laboratory. Mike Grey, Executive Chairman, highlighted Hoelscher's extensive experience as a beneficial addition for Reneo's growth, especially with its investigational drug REN001, aimed at treating mitochondrial diseases.
Reneo Pharmaceuticals (RPHM) announced its Q3 2021 financial results, reporting a net loss of $12.7 million ($0.52 per share) compared to a net loss of $5.1 million ($2.48 per share) in Q3 2020. The company has $157.7 million in cash and investments. Reneo advanced its clinical trials, launching the Phase 2b study for REN001 in PMM and completing enrollment in the Phase 1b study for LC-FAOD. The firm also appointed Ashley Hall as Chief Development Officer and strengthened its patent portfolio with a new allowance from the USPTO, expected to protect REN001 until 2041.
Reneo Pharmaceuticals (NASDAQ: RPHM) announced its participation in two upcoming investor conferences in November 2021. The Credit Suisse 30th Annual Healthcare Conference will be held from November 8-11, where Reneo will present on November 11 from 12:10 to 12:50 PM ET. Additionally, Reneo will participate in the Piper Sandler 33rd Healthcare Conference from November 30 to December 2, with an on-demand fireside chat scheduled for November 22. Reneo focuses on therapies for rare genetic mitochondrial diseases, specifically developing REN001 to enhance mitochondrial function.
Reneo Pharmaceuticals (NASDAQ: RPHM) announced a notice of allowance from the USPTO for patent application No. 17/381,005 covering its drug REN001. This patent is crucial as REN001 targets rare genetic mitochondrial diseases, including primary mitochondrial myopathy. Expected to be issued in 2021, the patent will offer protection until 2041. A notice of allowance indicates a high probability of patent grant, although it is not guaranteed. REN001 is a selective PPARδ agonist aimed at increasing ATP production, addressing significant unmet medical needs.
Reneo Pharmaceuticals (NASDAQ: RPHM) announced the appointment of Ashley F. Hall as Chief Development Officer, effective immediately. Hall brings over 20 years of global drug development experience, previously serving in leadership roles at Esperion Therapeutics and Amgen. She will oversee clinical operations, regulatory affairs, and program management for Reneo's development programs, including REN001, targeting rare genetic mitochondrial diseases. The company granted Hall stock options and restricted shares as part of her inducement package.
Reneo Pharmaceuticals (NASDAQ: RPHM) will host a KOL webinar on McArdle Disease on October 4, 2021, at 12 PM ET. Dr. Rosaline Quinlivan will discuss the treatment landscape and unmet needs for this rare mitochondrial disease. Reneo's CMO, Dr. Alex Dorenbaum, will present the clinical program for REN001, a PPARd agonist aimed at enhancing mitochondrial function and increasing ATP production. The webinar will provide insights into Reneo's commitment to developing therapies for genetic mitochondrial diseases.
Reneo Pharmaceuticals (NASDAQ: RPHM) announced participation in five investor conferences throughout September 2021. The events include the Citi 16th Annual BioPharma Conference from September 8-10, H.C. Wainwright 23rd Annual Global Investment Conference from September 13-15, Baird’s 2021 Global Healthcare Conference on September 15, SVB Leerink CybeRx Series on September 22-23, and Cantor Fitzgerald’s Virtual Global Healthcare Conference on September 30. Reneo focuses on therapies for rare genetic mitochondrial diseases, currently developing REN001 for improved cellular energy production.
Reneo Pharmaceuticals (Nasdaq: RPHM) announced the first patient dosing in the STRIDE study, a Phase 2b trial for primary mitochondrial myopathies. The company also completed enrollment for its McArdle disease study and progressed in long-chain fatty acid oxidation disorder studies. Financially, Reneo reported a net loss of $9.2 million for Q2 2021, up from $3.7 million in Q2 2020, with R&D expenses increasing to $6.3 million. As of June 30, 2021, Reneo held $167.3 million in cash and equivalents, funding its clinical milestones through the year.
Reneo Pharmaceuticals (NASDAQ: RPHM) announced that the first patient has been dosed in its STRIDE study, aimed at evaluating REN001 for primary mitochondrial myopathies (PMM). This Phase 2b trial will include approximately 200 adult patients and assess efficacy through a 12-minute walk test after 24 weeks. REN001 has received Orphan Drug and Fast Track designations from the FDA. PMM affects 1 in 5,000 individuals globally, causing significant energy production deficits. The company plans to further develop REN001 for additional mitochondrial dysfunction-related diseases.
Reneo Pharmaceuticals (Nasdaq: RPHM) announced that underwriters for its IPO have agreed to waive the lock-up restriction for 111,736 shares held by Wendy Johnson, an officer planning to retire by December 31, 2021. This waiver takes effect on July 13, 2021, allowing her to sell these shares. Reneo focuses on therapies for rare genetic mitochondrial diseases and is developing REN001 to enhance mitochondrial function, potentially increasing ATP production, crucial for cellular energy.
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