Bio-Path Holdings, Inc. Releases Q1 2024 10-Q Report
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Bio-Path Holdings, Inc., a biotechnology company specializing in RNAi nanoparticle drug candidates using its proprietary DNAbilize® technology, has released its Form 10-Q report for the first quarter of 2024. The report highlights the company's financial performance and significant advancements in its drug development pipeline.
Financial Highlights
- Revenue: No revenue reported for the three months ended March 31, 2024, and 2023.
- Net Operating Loss: $3.7 million for the three months ended March 31, 2024, a decrease of $1.6 million compared to the three months ended March 31, 2023.
- Net Loss: $3.2 million for the three months ended March 31, 2024, a decrease of $2.1 million compared to the three months ended March 31, 2023.
- Net Loss Per Share: $4.88 for the three months ended March 31, 2024, compared to $13.25 for the three months ended March 31, 2023.
Business Highlights
- Product Development: Bio-Path Holdings is focused on developing RNAi nanoparticle drug candidates using its DNAbilize® technology, which targets over-expressed gene products in diseases. The company has four drug candidates in development aimed at treating at least five different cancer indications.
- Clinical Trials: The company is conducting a Phase 2 clinical trial for its lead drug candidate, prexigebersen, targeting AML patients. The trial includes three cohorts, with promising interim data showing high response rates in newly diagnosed and relapsed/refractory AML patients.
- New Drug Candidates: Bio-Path is advancing its second drug candidate, BP1002, targeting the Bcl-2 protein in refractory/relapsed lymphoma and CLL patients. The Phase 1 clinical trial is underway, with successful completion of the first dose cohort.
- Pipeline Expansion: The company is also developing BP1003, targeting the STAT3 protein for pancreatic cancer, NSCLC, and AML. BP1001-A, a modified product for solid tumors, is in a Phase 1/1b clinical trial.
- Future Outlook: Bio-Path plans to pursue FDA expedited programs for Fast Track designation based on promising interim data from its clinical trials. The company is also evaluating potential expansion of its Phase 2 trial in Europe.
- Operational Strategy: Bio-Path intends to apply its DNAbilize® technology to new disease-causing protein targets and develop new drug candidates for inclusion in its pipeline, potentially expanding into non-cancer indications.
SEC Filing: Bio-Path Holdings, Inc. Releases Q1 2024 [ OTC:BPTH ] - 10-Q - May. 14, 2024