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MaaT Pharma Provides Third Quarter 2024 Business and Financial Results and Announces Management Changes

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MaaT Pharma Provides Third Quarter 2024 Business and Financial Results and Announces Management Changes

  • Completion of enrollment in the European Phase 3 clinical trial ARES designed to evaluate efficacy and safety of MaaT013 in the treatment of acute Graft-versus-Host Disease; topline results expected in January 2025.

  • Positive safety assessment by first DSMB of the European Phase 2b trial PHOEBUS with the DSMB recommending continuation of the trial without modification.

  • As of September 30, 2024, cash and cash equivalents were EUR 27 million1.

  • Revenues of EUR 0.6 million in Q3 2024 compared with EUR 0.4 million in Q3 2023. This trend is a direct reflection of the continued demand from the medical community for MaaT Pharma’s drug candidate MaaT013.

  • Nomination of Eric Soyer as Chief Financial Officer and transition of Sian Crouzet to Chief of Staff, after 8 years as Chief Financial Officer.

LYON, France, November 05, 2024–(BUSINESS WIRE)–Regulatory News:

MaaT Pharma (EURONEXT: MAAT – the “Company”), a clinical-stage biotechnology company and a leader in the development of Microbiome Ecosystem TherapiesTM (MET) dedicated to enhancing survival for patients with cancer through immune modulation, today provided a business update and reported its cash position and revenue as of September 30, 2024.

Pipeline highlights

MaaT013

  • In hemato-oncology:

    • In September 2024, MaaT Pharma announced that MaaT013 batches were ready for distribution for clinical supply in the US and that MaaT Pharma advanced the readiness phase for the initiation of clinical activities.

    • In October 2024, MaaT Pharma announced the completion of patient recruitment for ARES, its European Phase 3 clinical trial designed to evaluate the efficacy and safety of its lead asset MaaT013 in the treatment of steroid refractory and ruxolitinib refractory or intolerant acute Graft-versus-Host Disease (aGvHD) (NCT04769895).

MaaT033

  • In hemato-oncology:

    • In July 2024, the Company announced that the DSMB completed its first safety assessment of the Phase 2b trial PHOEBUS (NCT05762211), aiming at assessing MaaT033 impact in improving overall survival in patients receiving hematopoietic stem cell transplantation, and recommended continuation of the trial without modification. The trial is a European, multi-center, randomized, double-blind study, testing MaaT033, an oral freeze-dried formulation against placebo, set to be conducted in up to 56 clinical investigation sites and expected to enroll 387 patients.

Cash position1

  • As of September 30, 2024, total cash and cash equivalents were EUR 27 million, as compared to EUR 31.2 million as of June 30, 2024, and EUR 24.3 million as of December 31, 2023. The net decrease in cash position of EUR 4.2 million during the third quarter 2024 reflects continued investments in R&D activities across the pipeline, offset in part by the payment of a repayable advance of EUR 3.2 million in public funding the development of MaaT033 and the balance of the 2023 R&D tax credit of EUR 1.0 million.

  • The Company believes it has sufficient cash to cover its current operating needs and development programs into the second quarter of 2025.

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