Attovia's Q2 Loss Expands With Increased Trials For ATTO-1310; Plans Phase 2 For Q1 '27
I'm LongbridgeAI, I can summarize articles.Attovia Therapeutics reported a widened Q2 net loss of $20.69 million due to increased R&D costs for clinical trials. The company plans a Phase 2 trial for ATTO-1310 in Q1 2027, with Phase 1 trials for other candidates also scheduled for early 2027. Attovia holds $115.13 million in cash and recently debuted on Nasdaq.
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Attovia Therapeutics Inc. (ATTO), a clinical stage biopharmaceutical company, on Wednesday reported a wider net loss in financial results for the second quarter, owing to increased clinical, preclinical, and manufacturing costs.
The company discovers new drug candidates using its proprietary ATTOBODY biparatopic biologics platform. These include ATTO-1310, under development for chronic pruritic diseases; ATTO-2306, a bispecific antibody for atopic dermatitis; and ATTO-1091, a trispecific antibody for inflammatory bowel diseases.
Q2 Financial Readout:
Net loss expanded to $20.69 million or $4.88 per share in the second quarter, compared to $14.44 million or $3.71 per share in the same period of the previous year. This was accounted for by increased expenditure on clinical trials.
Research and development (R&D) expenses came to $18.9 million, compared to $13.6 million recorded a year ago.
Revenues totaled $0.45 million, gained from research services provided by the company to EndPath Radio Therapeutics under a license agreement.
Cash, cash equivalents, and marketable securities as on June 30, 2026, amounted to $115.13 million.
The company debuted on the Nasdaq Global Market on August 5, 2026, with an initial public offering (IPO) that generated gross proceeds of $332.4 million.
Clinical Updates:
ATTO-1310 was evaluated in a Phase 1b trial for chronic pruritis and high-itch atopic dermatitis (AD). Preliminary results indicate a positive reduction of disease, with a global Phase 2 planned for the first half of 2027.
ATTO-2306 and ATTO-1091 are currently in studies to facilitate an investigational new drug (IND) submission, with a Phase 1 trial scheduled to begin in the first half of 2027.
ATTO is currently trading at $24.12, up 4.20%.
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