Categories Earnings, Other Industries

Bio-Path likely to report wider Q2 loss on Aug. 15

Bio-Path Holdings (NASDAQ: BPTH) is expected to continue incurring significant operating losses in the second quarter. Also, the losses are likely to increase substantially as the biotech company expand its drug development programs and commercialization efforts. The company is set to release its second-quarter earnings results on Thursday before the bell.

The company had an accumulated deficit of $49.3 million as of March 31, 2019. Achieving profitability remained every company’s dream but for this Bio-Path should develop one or more of its drug candidates or enter into license or development agreements with third parties.

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.

Image for representation. Courtesy: PublicDomainPictures from Pixabay

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.

Also read: Celsion Q2 earnings preview

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.

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