By Katherine Hamilton
Shares of Apogee Therapeutics advanced after sharing positive interim results that push forward more trials of inflammatory and immunology treatments.
The stock rose 6% to $33.37 on Monday. Shares have lost about a quarter of their value in 2025.
The biotechnology company reported positive interim results for the Phase 1 of APG990, a product that, when combined with another product called APG777, could treat several inflammatory and immunology diseases including asthma and atopic dermatitis.
Data from its Phase 1 trial for APG777 showed consistent safety results and supports the ongoing Phase 2 clinical trial, Apogee said.
Based on the data, Apogee plans to start its first combination trial of APG777 and APG990 used together, in 2025.
Apogee said it has enough existing cash, cash equivalents and securities to fund operations into the first quarter of 2028.
It had a loss of $182.1 million in 2024, compared with a loss of $84 million the prior year. The company said it has been spending more on research and development to start new trials, and increasing its headcount to expand operations, all of which has contributed to higher expenses and a wider loss.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
March 03, 2025 12:31 ET (17:31 GMT)
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