Bio-Path Holdings Reports Third Quarter 2024 Financial Results and Expansion into Obesity Program

Bio-Path Holdings, Inc. (NASDAQ:BPTH), a biotechnology company specializing in leveraging its proprietary DNAbilize® antisense RNAi nanoparticle technology for the development of targeted nucleic acid cancer drugs, recently announced its financial results for the third quarter ended September 30, 2024. The company also disclosed its expansion into the field of obesity treatment.

During the third quarter of 2024, Bio-Path initiated its obesity program, marking the first utilization of its DNAbilize® platform outside of oncology applications, demonstrating the technology’s broader therapeutic potential. Peter Nielsen, President and Chief Executive Officer of Bio-Path Holdings, expressed satisfaction with the progress made during this quarter, highlighting the initiation of the obesity program and advancements in the oncology programs.

Key Corporate Highlights for Bio-Path Holdings include:
– Initiation of BP1001-A Therapeutic Program for Obesity Treatment: The company commenced a therapeutic program focusing on the development of BP1001-A to address obesity and related metabolic diseases. This move extends the application of DNAbilize® technology and showcases its potential in treating insulin resistance and related conditions.
– Successful Enrollment in the Third Dosing Cohort of Phase 1/1b Clinical Trial of BP1002: Bio-Path completed enrollment for the third dosing cohort of the Phase 1/1b trial of BP1002 in venetoclax-resistant Acute Myeloid Leukemia (AML) patients. The rapid enrollment in this cohort reinforces the demand for innovative treatment options for such patients.
– Publication in Peer-Reviewed Journal, Biomedicines: An article detailing the therapeutic potential of BP1003 in various cancer types, including breast, ovarian, and pancreatic cancer, was published in the peer-reviewed journal Biomedicines.
– Encouraging Response in Solid Tumor Patient: Bio-Path observed a positive response in the first patient of the second dose cohort during its Phase 1/1b advanced solid tumor clinical trial. This promising outcome suggests the potential of BP1001-A as a new treatment option for advanced solid tumors.

Financial Results for the third quarter ended September 30, 2024, included:
– Net loss of $2.1 million, or $0.70 per share, compared to a net loss of $3.2 million, or $6.36 per share, for the same period in 2023.
– Research and development expenses decreased to $1.3 million in 2024, primarily due to reduced manufacturing expenses and clinical trial-related costs.
– General and administrative expenses increased to $1.3 million in 2024, attributed to higher legal fees and salaries and benefits expenses.
– Cash reserves as of September 30, 2024, stood at $0.6 million compared to $1.1 million at the end of 2023.

Bio-Path Holdings will host a conference call and webcast today at 8:30 a.m. ET to discuss these financial results and provide a company update. Details for accessing the conference call are available on the company’s website.

For additional information on Bio-Path Holdings, Inc. and its innovative technology, please visit the company’s website at www.biopathholdings.com.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Bio-Path’s 8K filing here.

Bio-Path Company Profile

Bio-Path Holdings, Inc operates as a clinical and preclinical stage oncology focused RNAi nanoparticle drug development company in the United States. The company develops products based on DNAbilize, a drug delivery and antisense technology platform that uses P-ethoxy, which is a deoxyribonucleic acid (DNA) backbone modification intended to protect the DNA from destruction.