Aileron Therapeutics, Inc. (ALRN) is up 7.56% in the pre-market trading session at the price of $1.28 despite any recent news.
ALRN Reported Q2 Financial Results
On 11th August 2021, ALRN announced business highlights and financial results for the second quarter ended 30th June 2021. Net loss for the quarter ended 30th June 2021 was $5.7 million. Net loss was $4.4 million for the same quarter of 2020. For the second quarter of 2021, the basic and diluted net loss per share was $0.06 compared to $0.14 for the second quarter of 2020. The change in basic and diluted net loss per share is largely due to increased shares outstanding in connection with sales of common stock during the first quarter of 2021. $59.5 million cash and cash equivalents are expected to fund operations into the second half of 2023.
CEO of ALRN, Manuel Aivado, remarked that they continue to execute their clinical development strategy to advance selective chemoprotection for patients with p53-mutated cancer. Moreover, they have continued initiation of their first randomized, double-blind, placebo-controlled clinical trial of ALRN-6924. This drug treats patients with p53-mutated non-small cell lung cancer, he added.
Initiation of Placebo-Controlled Trial of ALRN-6924
On 1st July 2021, ALRN reported that it had initiated a randomized, double-blind, placebo-controlled clinical trial of ALRN-6924. It is a chemoprotective agent for patients with non-small cell lung cancer (NSCLC). Aileron has planned to enroll 60 patients with advanced p53-mutated NSCLC. Preferably those patients who are undergoing treatment with first-line carboplatin plus pemetrexed. ALRN-6924 protects healthy cells in patients with cancers that harbor p53 mutations to reduce chemotherapy-induced side effects.
CEO of ALRN, Manuel Aivado, commented that they are pleased to initiate this trial. It was built on promising data they previously reported from the proof-of-concept trial of ALRN-6924. The drug is effective for patients with small-cell lung cancer (SCLC).
Inclusion in the Russell Microcap Index
On 24th June 2021, ALRN announced that it is set to join the Russell Microcap® Index. The inclusion became effective on 28th June 2021, after the conclusion of the 2021 Russell indexes annual reconstitution. Membership in the Russell Microcap® Index means automatic inclusion in the appropriate growth and value style indexes. Membership in FTSE Russell is determined primarily by objective, market-capitalization rankings, and style attributes. Russell indexes are largely used by investment managers and institutional investors for index funds and as a benchmark for active investment strategies. Almost $10.6 trillion in assets are benchmarked against Russell’s US indexes.
