Peak Bio, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
June 25, 2024 at 03:38 pm IST
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Peak Bio, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 0.278831 million compared to USD 0.192547 million a year ago. Net income was USD 0.410587 million compared to net loss of USD 1.71 million a year ago. Basic earnings per share from continuing operations was USD 0.02 compared to basic loss per share from continuing operations of USD 0.1 a year ago.
For the nine months, revenue was USD 0.292685 million compared to USD 0.346413 million a year ago. Net loss was USD 12.3 million compared to USD 6.34 million a year ago. Basic loss per share from continuing operations was USD 0.59 compared to USD 0.37 a year ago.
Peak Bio, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on commercializing therapeutics that aim to improve and address unmet medical needs for patients with inflammatory, rare and specialty diseases and cancer. The Companyâs lead product candidate, PHP-303, is a small molecule, fifth generation, phase II clinical-ready neutrophil elastase (NE) inhibitor (NEI). PHP-303 is an oral, once daily, 0.65 nanomolar, selective, small molecule reversible inhibitor of NE designed to inhibit its bioactive form that the Company is developing for the treatment of alpha-1 antitrypsin deficiency (AATD), a genetic disorder that may result in lung disease or liver disease and, potentially, acute respiratory distress syndrome (ARDS). The Companyâs advanced platform in oncology utilizes its toxin, PH-1 or Thailanstatin, to generate a pipeline of antibody-drug-conjugates (ADC) product candidates that are differentiated from traditional ADC-based therapies.
PEAK BIO, INC. 
