Bio-Path expects to finance its foreseeable cash requirements through cash on hand, cash from operations, debt financings and public or private equity offerings. The company could seek collaborations and license arrangements for its drug candidates. It now has no lines of credit or other arranged access to debt financing.
The company has not generated significant revenues to date and does not expect revenues from its drug candidates to occur for many years. However, the successful development and eventual commercialization of its drug candidates are likely to be the key behind revenue generation. This could be achieved from a combination of product sales, third-party grants, service agreements, strategic alliances, and licensing arrangements.
The company operates as a clinical and preclinical stage oncology-focused RNAi nanoparticle drug development company in the US. Bio-Path’s lead drug candidate is prexigebersen, which is in Phase 2 clinical trials for cancer treatment. It is also developing Liposomal Bcl2 for the treatment of lymphoma, and Liposomal Stat3 that is in preclinical stage for the treatment of pancreatic cancer.
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For the first quarter, Bio-Path reported a narrower loss helped by a 56% dip in research and development expenses. The company experienced a decline in clinical trial expenses as the operations between stage 1 and stage 2 of phase 2 clinical trial in acute myeloid leukemia (AML) were modified to include venetoclax combination treatment with prexigebersen.
The company anticipates the completion of the Investigational New Drug-enabling studies in 2019 through early 2020, and the filing of an IND application for a phase 1 study of BP1003 for the treatment of pancreatic cancer in 2020.