By Trend News Line 2024-03-20 12:16:53.
Barinthus Biotherapeutics plc (NASDAQ: BRNS) has recently revealed its financial results for the year ending December 31, 2023, along with an overview of the company’s progress. The clinical-stage biopharmaceutical company, previously known as Vaccitech plc, is dedicated to developing innovative T cell immunotherapeutic candidates aimed at combatting chronic infectious diseases, autoimmunity, and cancer.
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Bill Enright, the Chief Executive Officer of Barinthus Bio, expressed positivity about the company’s accomplishments in 2023. He highlighted key milestones such as data presentations in the HBV and HPV programs, the initiation of the next-generation prostate cancer program with the first patient visit, and securing up to $35 million in future funding from the Coalition for Epidemic Preparedness Innovations (CEPI) for the MERS program.
Throughout 2023, the company made significant advancements in various clinical programs, including HBV (VTP-300) and HPV (VTP-200). Positive topline final data from the HBV002 Phase 2 clinical trial for VTP-300 showcased meaningful reductions in Hepatitis B Surface Antigen (HBsAg) levels, particularly in combination with a low-dose PD-1 inhibitor. Interim data from the HPV001 Phase 1b/2 clinical trial of VTP-200 in high-risk HPV infection also demonstrated promising results in inducing high T cell responses to HPV antigens.
Looking ahead to 2024, Barinthus Bio anticipates further progress in its clinical trials, with expected final results from the Phase 1b/2 HPV APOLLO trial of VTP-200 and additional data from ongoing Phase 2 trials of VTP-300 in chronic HBV infection. The company also plans to initiate a Phase 1 clinical trial of VTP-1000 in celiac disease, a lead program in autoimmunity.
In addition to clinical developments, Barinthus Bio achieved key operational milestones in 2023, including the appointment of Nadège Pelletier, Ph.D., as Chief Scientific Officer, and the relocation of its U.S. facility to Germantown, Maryland. The company underwent a rebranding as Barinthus Biotherapeutics plc in November 2023 to reflect its expanded focus beyond vaccines, along with a change in its Nasdaq ticker to “BRNS.”
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Financially, Barinthus Bio reported a cash position of $142.1 million as of December 31, 2023, compared to $194.4 million in the previous year. The company’s revenue for 2023 was $0.8 million, primarily from royalties received by Oxford University Innovation. Research and development expenses increased to $44.9 million, reflecting progress in advancing the company’s pipeline through clinical trials.
Barinthus Bio reported a net loss of $73.3 million for 2023, compared to a net income of $5.3 million in 2022. Despite the financial challenges, the company remains committed to its mission of developing innovative therapies to address unmet medical needs in chronic infectious diseases, autoimmunity, and cancer.
With upcoming milestones in 2024 and a strong focus on advancing its pipeline of T cell immunotherapeutic candidates, Barinthus Biotherapeutics plc continues to make strides in the biopharmaceutical industry, bringing hope to patients and their families affected by serious diseases..
– Barinthus Bio Reports Full Year Financial Results
– Barinthus Bio Corporate Developments Update.
