The Buffalo Grove, IL-based biopharmaceutical firm develops treatments for gastrointestinal diseases. Lead candidate is vonoprazan, a potassium-competitive acid blocker (P-CAB), for the potential treatment of gastroesophageal reflux disease (GERD), H. pylori infection (can lead to ulcers in the stomach and upper part of small intestine) and other acid-related disorders. P-CABs work by blocking acid secretion in the stomach. The company says they work better than standard-of-care proton pump inhibitors (PPIs) in acid-related diseases, adding that 15-45% of GERD patients do not achieve adequate symptom relief with PPIs.
It in-licensed the rights to vonoprazan in the U.S., Europe and Canada from Takeda Pharmaceutical Company (NYSE:TAK) in May. Two Phase 3 GERD studies should launch this quarter.
2019 Financials (6 mo.): Operating Expenses: $84.2M (+999%); Net Loss: ($89.0M) (-999%); Cash Burn: ($6.0M) (-999%).