Aadi Bioscience Inc (OQ:AADI)
Business Focus: Biopharmaceuticals
| Sector: Healthcare | Industry: Pharmaceuticals |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 17383 Sunset Avenue, Suite A250 PACIFIC PALISADES CA 90272 |
| Tel: | 1-424-7448055 |
| Website: | https://aadibio.com |
| IR: | See website |
| Key People | ||
| Neil Desai Executive Chairman of the Board | David J. Lennon President, Chief Executive Officer, Principal Executive Officer | Scott Giacobello Chief Financial Officer | Loretta M. Itri Chief Medical Officer |
| Business Overview |
| Aadi Bioscience, Inc. is a commercial-stage biopharmaceutical company. The Company is focused on developing and commercializing precision therapies for cancers with alterations in the mammalian target of rapamycin (mTOR) pathway, a regulator of cell growth and cancer progression. Its lead drug product, FYARRO, is an mTOR inhibitor indicated for the treatment of adult patients with locally advanced unresectable or metastatic malignant perivascular epithelioid cell tumor (PEComa). FYARRO is a form of sirolimus bound to albumin. Sirolimus is a potent inhibitor of the mTOR biological pathway and inhibits downstream signaling from mTOR, which can promote tumor growth. FYARRO is composed of nanoparticles of sirolimus bound to human albumin with an average size less than 100 nanometers. It has also initiated a tumor-agnostic Phase II study (PRECISION 1) of FYARRO in patients with Tuberous Sclerosis Complex 1 and 2 (TSC1 and TSC2) alterations. |
| Financial Overview |
| For the three months ended 31 March 2024, Aadi Bioscience Inc revenues decreased 9% to $5.4M. Net loss increased 20% to $18.3M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Higher net loss reflects Interest income decrease of 23% to $1.3M (income). Basic Earnings per Share excluding Extraordinary Items decreased from -$0.57 to -$0.68. |
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