Aileron Therapeutics Reports First Quarter 2020 Financial Results and Provides Corporate Update - Seite 3

R&D Expenses: Research and development expenses for the three months ended March 31, 2020 were $4.1 million, compared to $4.2 million for the three months ended March 31, 2019. The decrease of $0.1 million is primarily attributed to a decrease of $0.6 million in the Company’s employee and other development expenses due to a decrease in the number of research and development employees from 15 in 2019 to seven in 2020, as well as a decrease of $0.2 million in other early-stage development programs due to the Company’s determination not to conduct further research activities. These decreases are partially offset by an increase of $0.7 million in costs that were incurred in the period related to the manufacture and clinical development of ALRN-6924. In March 2020, the Company implemented cost savings initiatives including the elimination of previously planned research studies. Accordingly, the Company expects that its quarterly expenditures on research and development will be lower for the remainder of 2020 as compared to the first quarter of 2020.

G&A Expenses: General and administrative expenses were $2.8 million for the three months ended March 31, 2020, compared to $3.1 million for three months ended March 31, 2019. The decrease primarily reflects costs saved due to lower administrative support-related costs. The Company anticipates that cost savings initiatives implemented in March 2020 will result in lower quarterly general and administrative expenses for the remainder of 2020 as compared to the first quarter of 2020.

Net Loss: Net loss was $6.7 million for the three months ended March 31, 2020, compared to $7.2 million for the same period in 2019.

Shares Outstanding:  As of March 31, 2020, there were 27.8 million shares of common stock outstanding. Pursuant to its Capital on Demand Sales Agreement, between April 1, 2020 and May 4, 2020, the Company issued and sold an aggregate of 1.3 million shares of common stock for gross proceeds of $0.7 million.

About ALRN-6924
ALRN-6924 is a first-in-class dual MDM2/MDMX inhibitor that is currently being evaluated in a Phase 1b/2 clinical trial to evaluate ALRN-6924 as a chemoprotective agent to protect against chemotherapy-related toxicities.

About Aileron

Aileron is a clinical-stage biopharmaceutical company advancing a proprietary platform of cell-permeating alpha-helical peptides. The stabilized helical structure of the Company’s peptides allows the design of cell-permeating therapeutic agents with large molecular surfaces for optimal target binding properties, such as the Company’s lead product candidate ALRN-6924. The Company’s focus is to improve the standard of care for patients with cancer by developing safe and effective therapies that leverage the Company’s proprietary peptide platform.  For more information, visit www.aileronrx.com, and for more information about our clinical trials please visit www.clinicaltrials.gov.