Aptinyx Reports Third Quarter 2021 Financial Results and Recent Highlights
November 09, 2021 at 16:05 PM EST
Completed enrollment in Phase 2b study of NYX-2925 in patients with painful diabetic peripheral neuropathy; results expected in early to mid 2Q 2022
Phase 2b fibromyalgia study and exploratory Phase 2 cognitive impairment study remain on track for readouts in 2022
PTSD Phase 2b program is set to initiate in 4Q 2021
Strong balance sheet supports Phase 2 data readouts from all four clinical development programs
Management to host conference call today at 5:00 p.m. ET
Aptinyx Inc. (Nasdaq: APTX), a clinical-stage biopharmaceutical company developing transformative therapies for the treatment of brain and nervous system disorders, today reported financial results for the third quarter of 2021 and provided key business updates across the company’s clinical-stage pipeline of novel NMDA receptor modulators.
“The coming year promises to be an exciting time for Aptinyx as we approach several major development milestones across each of our pipeline programs,” said Norbert Riedel, Ph.D., chief executive officer of Aptinyx. “Our significant progress has set us up for an active period ahead, including initiation of our Phase 2b program in PTSD later this year and a series of Phase 2 data readouts beginning in the second quarter of next year with the results from our Phase 2b study in painful DPN. These upcoming milestones, coupled with a strong financial position, makes for a potentially transformational year for our company in 2022.”
Third Quarter 2021 and Recent Highlights
Third Quarter 2021 Financial Results
Cash Position: Cash and cash equivalents were $125.3 million at September 30, 2021, compared to $141.0 million at December 31, 2020. Aptinyx expects its current cash balance and guaranteed available cash to fund readouts from each of the company’s Phase 2 clinical development programs and support anticipated operations into 2023.
Research and Development (R&D) Expenses: Research and development expenses were $16.3 million for the three months ended September 30, 2021, compared to $6.6 million for the three months ended September 30, 2020. The increase in R&D expenses was primarily driven by costs associated with enrollment activities in the company’s two ongoing Phase 2b studies of NYX-2925 in chronic pain.
General and Administrative (G&A) Expenses: General and administrative expenses were $4.9 million for the three months ended September 30, 2021, compared to $5.0 million for the same period in 2020.
Net Loss: Net loss was $21.2 million for the third quarter of 2021, compared to a net loss of $11.3 million for the third quarter of 2020.
Source: Aptinyx Inc.