Appili Therapeutics Reports Financial and Operational Results for Third Quarter of Fiscal Year 2022
14 Février 2022 - 11:10PM
Business Wire
Appili Therapeutics Inc. (TSX: APLI; OTCQX: APLIF) (the
“Company” or “Appili”), a biopharmaceutical company focused on drug
development for infectious diseases, today announced its financial
and operational results for the third quarter of its fiscal year
2022, which ended on December 31, 2021.
“Over the past few months, we made meaningful progress
fortifying partnerships to accelerate and expand our diversified
portfolio, including expanding the scope of our commercial
partnership with Saptalis to bring our near-market antibiotic
product to global markets, and kickstarting an exciting new chapter
on our path to become a global biotechnology company and leader in
the fight against infectious diseases,” said Armand Balboni, M.D.,
Ph.D., Chief Executive Officer of Appili Therapeutics. “There is
still a lot of work to be done to better protect society from
emerging healthcare threats, and that’s why I’m incredibly proud of
all that we have accomplished this quarter to enhance our portfolio
of critical infectious disease treatments and address unmet needs
in healthcare.”
Third quarter and recent operational highlights include:
- Expansion of commercial agreement with Saptalis Pharmaceuticals
to add European and Latin American markets and increase global
access to ATI-1501, Appili’s proprietary taste-masked liquid
suspension reformulation of metronidazole scheduled for submission
to the US Food and Drug Administration later this year
- Announced positive one year challenge results for biodefense
vaccine candidate ATI-1701, a leading and potential first-in-class
option to prevent infection by top priority biothreat Francisella
tularensis
- Updated Appili’s funding agreement with The Lind Partners with
a voluntary prepayment of $1 million
- Discontinued further investment in development activities
related to COVID-19 antiviral candidate Avigan®/Reeqonus™
(favipiravir) and issued notice of termination of strategic
alliance and equity transaction to AiPharma following announcement
of top-line results for Phase 3 PRESECO trial
Financial Results
The Company prepares its financial statements in accordance with
IFRS as issued by the International Accounting Standard Board and
Part I of Chartered Professional Accountants of Canada
Handbook–Accounting. All figures are stated in Canadian dollars
unless otherwise stated.
The net loss and comprehensive loss of $21.7 million or $0.33
loss per share for the nine months ended December 31, 2021 was
$12.4 million higher than the net loss and comprehensive loss of
$9.3 million or $0.16 loss per share during the nine months ended
December 31, 2020. This relates mainly to an increase in research
and development costs of $13.4 million, an increase in business
development of $0.25 million, an increase in financing costs of
$0.37 million and an increase in income tax expense of $0.04
million. These increases were offset by an increase in revenue and
interest income of $1.3 million, an increase of government
assistance of $0.15 million, and a decrease in general and
administration expenses of $0.12 million.
As of December 31, 2021, the Company had cash and short-term
investments of $9.4 million, compared to $16.1 million on March 31,
2021. As of February 14, 2022, the Company had 71,266,120 issued
and outstanding Common Shares, 9,745,239 stock options, and
21,343,530 warrants outstanding.
This press release should be read in conjunction with the
Company’s unaudited interim condensed financial statements for the
third quarter of the 2022 fiscal year and the related management
discussion and analysis (MD&A), copies of which are available
on SEDAR at www.sedar.com.
About Appili Therapeutics
Appili Therapeutics is an infectious disease biopharmaceutical
company that is purposefully built, portfolio-driven, and
people-focused to fulfill its mission of solving life-threatening
infections. By systematically identifying urgent infections with
unmet needs, Appili’s goal is to strategically develop a pipeline
of novel therapies to prevent deaths and improve lives. The Company
is currently advancing a diverse range of anti-infectives,
including a broad-spectrum antifungal, a vaccine candidate to
eliminate a serious biological weapon threat, and two novel
antibiotic programs. Led by a proven management team, Appili is at
the epicenter of the global fight against infection. For more
information, visit www.AppiliTherapeutics.com.
Forward looking statements
This news release contains “forward-looking statements”.
Wherever possible, words such as “may,” “would,” “could,” “should,”
“will,” “anticipate,” “believe,” “plan,” “expect,” “intend,”
“estimate,” “potential for” and similar expressions have been used
to identify these forward-looking statements. These forward-looking
statements reflect the current expectations of the Company’s
management for future growth, results of operations, performance
and business prospects and opportunities and involve significant
known and unknown risks, uncertainties and assumptions, including,
without limitation, those listed in the annual information form of
the Company dated June 23, 2021 and the other filings made by the
Company with the Canadian securities regulatory authorities (which
may be viewed at www.sedar.com). Should one or more of these risks
or uncertainties materialize or should assumptions underlying the
forward-looking statements prove incorrect, actual results,
performance or achievements may vary materially from those
expressed or implied by the forward-looking statements contained in
this news release. These factors should be considered carefully,
and prospective investors should not place undue reliance on the
forward-looking statements. The Company disclaims any intention or
obligation to revise forward-looking statements whether as a result
of new information, future developments or otherwise, except as
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220214005732/en/
Media Contact: Danielle Raabe/APCO Worldwide T:
1-646-717-9915 E: DRaabe@apcoworldwide.com
Investor Relations Contact: Stéphane Paquette; Vice
President, Corporate Development Appili Therapeutics E:
Info@AppiliTherapeutics.com
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