Bio-Path Holdings, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 14, 2023 at 09:11 pm
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Bio-Path Holdings, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net loss was USD 4.23 million compared to USD 3.01 million a year ago. Basic loss per share from continuing operations was USD 10.6 compared to USD 8.4 a year ago. Diluted loss per share from continuing operations was USD 10.6 compared to USD 8.4 a year ago.
For the six months, net loss was USD 9.51 million compared to USD 6.37 million a year ago. Basic loss per share from continuing operations was USD 23.8 compared to USD 17.8 a year ago. Diluted loss per share from continuing operations was USD 23.8 compared to USD 17.8 a year ago.
Bio-Path Holdings, Inc. is a biotechnology company. The Company is engaged in developing DNAbilize, a novel technology that has yielded a pipeline of RNAi nanoparticle drugs that can be administered with a simple intravenous transfusion. DNAbilize, is a platform that uses P-ethoxy, which is a deoxyribonucleic acid (DNA) backbone modification that is intended to protect the DNA from destruction by the bodyâs enzymes when circulating in vivo, incorporated inside of a lipid bilayer having neutral charge. Its lead product candidate, prexigebersen (BP1001, targeting the Grb2 protein), is in a Phase II study for blood cancers, and BP1001-A, a drug product modification of prexigebersen, is in a Phase I/Ib study for solid tumors. The Companyâs second product, BP1002, which targets the Bcl-2 protein, is being evaluated for the treatment of blood cancers and solid tumors, including lymphoma and acute myeloid leukemia. BP1003 is its third liposome delivered antisense drug candidate.