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New Data Presented at AAIC Demonstrates Investigational LEQEMBI® (lecanemab-irmb) 360 mg Subcutaneous Maintenance Dosing Could Offer a New Option for Ongoing Treatment of Early Alzheimer's Disease

New Data Presented at AAIC Demonstrates Investigational LEQEMBI® (lecanemab-irmb) 360 mg Subcutaneous Maintenance Dosing Could Offer a New Option for Ongoing Treatment of Early Alzheimer's Disease

Yahoo6 days ago
Lecanemab subcutaneous autoinjector has the potential to become a new expanded treatment option for patients with early Alzheimer's disease, their care partners and healthcare professionals, with results showing a comparable efficacy and safety profile to the intravenous formulation
TOKYO and CAMBRIDGE, Mass., July 30, 2025 /PRNewswire/ -- Eisai Co., Ltd. (Headquarters: Tokyo, CEO: Haruo Naito, "Eisai") and Biogen Inc. (Nasdaq: BIIB, Headquarters: Cambridge, Massachusetts, CEO: Christopher A. Viehbacher, "Biogen") announced today that results on investigational maintenance therapy with subcutaneous autoinjector (SC-AI) of lecanemab-irmb (U.S. brand name: LEQEMBI®), an anti-amyloid beta (Aβ) protofibril* antibody for the treatment of early Alzheimer's disease (AD), were presented at the Alzheimer's Association International Conference (AAIC) 2025, held in Toronto, and virtually. Only lecanemab fights AD in two ways— targeting both protofibrils and plaque, which can impact tau accumulation downstream.
Importance of Ongoing Treatment and SC Development Program Due to the reaccumulation of AD biomarkers and return to placebo rate of decline after therapy is stopped1, Eisai is investigating a new lecanemab SC maintenance treatment option following 18 months of IV therapy so patients can continue to fight this progressive, relentless disease.
Clinical trials of lecanemab SC were conducted as a sub-study of the open-label extension (OLE) following the core Phase 3 Clarity AD study in individuals with early AD, to evaluate a range of doses administered by SC vial or autoinjector. Eisai has developed a SC-AI for maintenance therapy at a dose of 360 mg weekly and a 500 mg SC-AI is being developed for initiation dosing.
Similar Impact on Clinical Outcomes and Biomarkers with IV and SC Dosing The pharmacology (PK/PD), clinical (efficacy endpoints such as CDR-SB) and biomarker (amyloid PET and blood biomarkers) relationships established with extensive clinical data supported the FDA approval of IV maintenance therapy after the initial 18 months of treatment and support the investigational SC maintenance dose option.
Data supports that transitioning to a weekly 360 mg SC AI dose of lecanemab after 18 months of initiation dose (10 mg/kg IV biweekly) maintains clinical and biomarker benefits comparable to continued biweekly IV dosing.
Clinical and biomarker responses at 48 months with monthly IV maintenance dosing are similar to the responses with ongoing biweekly dosing whether patients are amyloid positive (>30 CL) or negative (<30 CL) at 18 months.
Data shows the 500 mg SC AI has equivalent exposure as the initial treatment regimen of 10 mg/kg IV biweekly up to 18 months for amyloid removal, efficacy, and ARIA-E.
Safety MattersThe safety profile of 360 mg weekly SC maintenance dosing was shown to be consistent with that of IV maintenance therapy, with <1% systemic injection/infusion reactions. Across all SC doses, the rate of systemic injection/infusion reactions is 1% compared to 26% with IV. The 360 mg SC maintenance dose was initiated after 18 months of IV treatment, beyond the high-risk period for ARIA. There were 0 cases of ARIA-E observed out of 49 treated with 360 mg SC weekly maintenance for a mean of 6 months.
Study Participants Successfully Administered SC-AI and Found it Easy to UseTo optimize the safe and effective use of SC autoinjector (SC-AI), additional studies were conducted, including a human factors (HF) study and a tolerability assessment of the device.
The HF Study involved 110 participants (63 early AD patients, 32 care partners, and 15 healthcare professionals: HCPs) to assess the appropriate administration of lecanemab SC-AI. Overall, 95% (104/110) of participants successfully administered the maintenance dose.
The Autoinjector Device Acceptability Study involved 126 participants (25 early AD patients, 50 care partners, and 51 HCPs), to evaluate the device's ease of use, convenience and feasibility of administration. As an interim outcome, over 95% of participants reported that the SC-AI is easy to administer. They were highly satisfied with it and had no concerns about administration, even at home. Furthermore, all patients responded that they welcomed the introduction of SC-AI.
These studies and evaluations of lecanemab SC-AI have demonstrated that the investigational SC-AI offers efficacy and safety comparable to IV administration with the potential to reduce the incidence of infusion site adverse events. From the perspective of patients and care partners, benefits included the ability to use the device at home, shortening treatment time, and to continue treatment without having to worry about visiting an infusion center. From the perspective of HCPs, they reported that the device has the potential to provide a new option for patients who are benefiting from lecanemab to continue the treatment. The SC formulation has the potential to reduce medical preparation and administration time related to IV therapy. These factors suggest that the SC AI may play an important role in continuing treatment for early AD.
This release is based on the content of the presentations given at AAIC, "Featured Research Session #4-13-FRS-C: Lecanemab Subcutaneous Formulation for Maintenance Dosing: The Potential of a New and Convenient Option for Ongoing Treatment in Early Alzheimer's Disease," held at 9:00 AM on Wednesday, July 30, and also includes some content from the Developing Topics session held at 8:00 AM on Sunday, July 27, entitled "Patient, Care Partner, and Health Care Professional Opinion of the Lecanemab Autoinjector for Subcutaneous Delivery in Early Alzheimer's Disease Patients."
Eisai serves as the lead for lecanemab's development and regulatory submissions globally with both companies co-commercializing and co-promoting the product and Eisai having final decision-making authority.
* Protofibrils are thought to be the most toxic Aβ species that contribute to brain damage in AD and play a major role in the cognitive decline of this progressive and devastating disease. Protofibrils can cause neuronal and synaptic damage in the brain, which can subsequently adversely affect cognitive function through multiple mechanisms.1 The mechanism by which this occurs has been reported not only by increasing the formation of insoluble Aβ plaques, but also by directly damaging signaling between neurons and other cells. It is believed that reducing protofibrils may reduce neuronal damage and cognitive impairment, potentially preventing the progression of AD. 2
MEDIA CONTACTSEisai Co., Ltd.
Public Relations Department
TEL: +81 (0)3-3817-5120
Eisai Europe, Ltd.
EMEA Communications Department
+44 (0) 797 487 9419
Emea-comms@eisai.net
Eisai Inc. (U.S.)
Libby Holman
+1-201-753-1945
Libby_Holman@Eisai.com
Biogen Inc.
Madeleine Shin
+1-781-464-3260
public.affairs@biogen.com
INVESTOR CONTACTSEisai Co., Ltd.
Investor Relations Department
TEL: +81 (0) 3-3817-5122
Biogen Inc.
Tim Power
+ 1-781-464-2442
IR@biogen.com
Notes to Editors
1. About lecanemab (generic name, brand name: LEQEMBI®)Lecanemab is the result of a strategic research alliance between Eisai and BioArctic. It is a humanized immunoglobulin gamma (IgG1) monoclonal antibody directed against aggregated soluble (protofibril) and insoluble forms of amyloid-beta (Aβ). Protofibrils are believed to contribute to the brain injury that occurs with AD and are considered to be the most toxic form of Aβ, having a primary role in the cognitive decline associated with this progressive, debilitating condition.1 Protofibrils cause injury to neurons in the brain, which in turn, can negatively impact cognitive function via multiple mechanisms, not only increasing the development of insoluble Aβ plaques but also increasing direct damage to brain cell membranes and the connections that transmit signals between nerve cells or nerve cells and other cells.2 It is believed the reduction of protofibrils may prevent the progression of AD by reducing damage to neurons in the brain and cognitive dysfunction.
Lecanemab has been approved in 46 countries and is under regulatory review in 11 countries. In January 2025, the supplemental Biologics License Application (sBLA) for intravenous (IV) maintenance dosing of the treatment was approved in the U.S. After an 18 months initiation phase with once every two weeks of dosing, a transition to the maintenance dosing regimen of 10 mg/kg once every four weeks or continuing 10 mg/kg once every two weeks may be considered. Additionally, the U.S. Food and Drug Administration (FDA) accepted Eisai's Biologics License Application (BLA) for the LEQEMBI subcutaneous autoinjector for weekly maintenance dosing in January 2025 and set a PDUFA action date for August 31, 2025.
Since July 2020 the Phase 3 clinical study (AHEAD 3-45) for individuals with preclinical AD, meaning they are clinically normal and have intermediate or elevated levels of amyloid in their brains, is ongoing. AHEAD 3-45 is conducted as a public-private partnership between the Alzheimer's Clinical Trial Consortium that provides the infrastructure for academic clinical trials in AD and related dementias in the U.S, funded by the National Institute on Aging, part of the National Institutes of Health, Eisai and Biogen. Since January 2022, the Tau NexGen clinical study for Dominantly Inherited AD (DIAD), that is conducted by Dominantly Inherited Alzheimer Network Trials Unit (DIAN-TU), led by Washington University School of Medicine in St. Louis, is ongoing and includes lecanemab as the backbone anti-amyloid therapy.
2. About the Collaboration between Eisai and Biogen for ADEisai and Biogen have been collaborating on the joint development and commercialization of AD treatments since 2014. Eisai serves as the lead of lecanemab development and regulatory submissions globally with both companies co-commercializing and co-promoting the product and Eisai having final decision-making authority.
3. About the Collaboration between Eisai and BioArctic for ADSince 2005, Eisai and BioArctic have had a long-term collaboration regarding the development and commercialization of AD treatments. Eisai obtained the global rights to study, develop, manufacture and market lecanemab for the treatment of AD pursuant to an agreement with BioArctic in December 2007. The development and commercialization agreement on the antibody lecanemab back-up was signed in May 2015.
4. About Eisai Co., Ltd.Eisai's Corporate Concept is "to give first thought to patients and people in the daily living domain, and to increase the benefits that health care provides." Under this Concept (also known as human health care (hhc) Concept), we aim to effectively achieve social good in the form of relieving anxiety over health and reducing health disparities. With a global network of R&D facilities, manufacturing sites and marketing subsidiaries, we strive to create and deliver innovative products to target diseases with high unmet medical needs, with a particular focus in our strategic areas of Neurology and Oncology.
In addition, we demonstrate our commitment to the elimination of neglected tropical diseases (NTDs), which is a target (3.3) of the United Nations Sustainable Development Goals (SDGs), by working on various activities together with global partners.
For more information about Eisai, please visit www.eisai.com (for global headquarters: Eisai Co., Ltd.), and connect with us on X, LinkedIn and Facebook. The website and social media channels are intended for audiences outside of the UK and Europe. For audiences based in the UK and Europe, please visit www.eisai.eu and Eisai EMEA LinkedIn.
5. About Biogen Founded in 1978, Biogen is a leading biotechnology company that pioneers innovative science to deliver new medicines to transform patient's lives and to create value for shareholders and our communities. We apply deep understanding of human biology and leverage different modalities to advance first-in-class treatments or therapies that deliver superior outcomes. Our approach is to take bold risks, balanced with return on investment to deliver long-term growth.
The company routinely posts information that may be important to investors on its website at www.biogen.com. Follow Biogen on social media – Facebook, LinkedIn, X, YouTube.
Biogen Safe HarborThis news release contains forward-looking statements, including about the potential clinical effects of lecanemab; the potential benefits, safety and efficacy of lecanemab; potential regulatory discussions, submissions and approvals and the timing thereof; the treatment of Alzheimer's disease; the anticipated benefits and potential of Biogen's collaboration arrangements with Eisai; the potential of Biogen's commercial business and pipeline programs, including lecanemab; and risks and uncertainties associated with drug development and commercialization. These forward-looking statements may be accompanied by such words as "aim," "anticipate," "assume," "believe," "contemplate," "continue," "could," "estimate," "expect," "forecast," "goal," "guidance," "hope," "intend," "may," "objective," "plan," "possible," "potential," "predict," "project," "prospect," "should," "target," "will," "would," and other words and terms of similar meaning. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. Results in early-stage clinical trials may not be indicative of full results or results from later stage or larger scale clinical trials and do not ensure regulatory approval. You should not place undue reliance on these statements. Given their forward-looking nature, these statements involve substantial risks and uncertainties that may be based on inaccurate assumptions and could cause actual results to differ materially from those reflected in such statements. These forward-looking statements are based on management's current beliefs and assumptions and on information currently available to management. Given their nature, we cannot assure that any outcome expressed in these forward-looking statements will be realized in whole or in part. We caution that these statements are subject to risks and uncertainties, many of which are outside of our control and could cause future events or results to be materially different from those stated or implied in this document, including, among others, uncertainty of long-term success in developing, licensing, or acquiring other product candidates or additional indications for existing products; expectations, plans and prospects relating to product approvals, approvals of additional indications for our existing products, sales, pricing, growth, reimbursement and launch of our marketed and pipeline products; our ability to effectively implement our corporate strategy; the successful execution of our strategic and growth initiatives, including acquisitions; the risk that positive results in a clinical trial may not be replicated in subsequent or confirmatory trials or success in early stage clinical trials may not be predictive of results in later stage or large scale clinical trials or trials in other potential indications; risks associated with clinical trials, including our ability to adequately manage clinical activities, unexpected concerns that may arise from additional data or analysis obtained during clinical trials, regulatory authorities may require additional information or further studies, or may fail to approve or may delay approval of our drug candidates; the occurrence of adverse safety events, restrictions on use with our products, or product liability claims; and any other risks and uncertainties that are described in other reports we have filed with the U.S. Securities and Exchange Commission.
These statements speak only as of the date of this press release and are based on information and estimates available to us at this time. Should known or unknown risks or uncertainties materialize or should underlying assumptions prove inaccurate, actual results could vary materially from past results and those anticipated, estimated or projected. Investors are cautioned not to put undue reliance on forward-looking statements. A further list and description of risks, uncertainties and other matters can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and in our subsequent reports on Form 10-Q and Form 10-K, in each case including in the sections thereof captioned "Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," and in our subsequent reports on Form 8-K. Except as required by law, we do not undertake any obligation to publicly update any forward-looking statements whether as a result of any new information, future events, changed circumstances or otherwise.
References
Amin L, Harris DA. Aβ receptors specifically recognize molecular features displayed by fibril ends and neurotoxic oligomers. Nat Commun. 2021;12:3451. doi:10.1038/s41467-021-23507-z
Ono K, Tsuji M. Protofibrils of Amyloid-β are Important Targets of a Disease-Modifying Approach for Alzheimer's Disease. Int J Mol Sci. 2020;21(3):952. doi: 10.3390/ijms21030952. PMID: 32023927; PMCID: PMC7037706.
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SOURCE Eisai Inc.
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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Revenues Telehealth revenue, net $ 48,563,672 $ 37,432,309 $ 101,020,153 $ 68,273,711 WorkSimpli revenue, net 13,654,513 13,229,536 26,895,788 26,532,398 Total revenues, net 62,218,185 50,661,845 127,915,941 94,806,109 Cost of revenues Cost of telehealth revenue 6,838,703 4,553,843 14,975,164 8,748,438 Cost of WorkSimpli revenue 592,201 471,072 1,099,456 876,654 Total cost of revenues 7,430,904 5,024,915 16,074,620 9,625,092 Gross profit 54,787,281 45,636,930 111,841,321 85,181,017 Expenses Selling and marketing expenses 29,125,097 26,378,928 58,319,158 50,552,808 General and administrative expenses 17,565,187 18,521,385 34,620,856 33,827,117 Customer service expenses 3,230,735 2,733,418 6,302,229 4,581,459 Other operating expenses 3,028,762 1,906,175 5,543,520 4,206,622 Development costs 2,744,272 2,402,590 5,419,406 4,489,822 Total expenses 55,694,053 51,942,496 110,205,169 97,657,828 Operating (loss) income (906,772 ) (6,305,566 ) 1,636,152 (12,476,811 ) Other expenses Interest expense, net (663,027 ) (531,468 ) (1,289,302 ) (1,009,146 ) Net (loss) income before income taxes (1,569,799 ) (6,837,034 ) 346,850 (13,485,957 ) Income tax expense - - - - Net (loss) income (1,569,799 ) (6,837,034 ) 346,850 (13,485,957 ) Net income attributable to noncontrolling interests 505,075 38,606 1,036,920 158,038 Net loss attributable to LifeMD, Inc. (2,074,874 ) (6,875,640 ) (690,070 ) (13,643,995 ) Preferred stock dividends (776,562 ) (776,562 ) (1,553,125 ) (1,553,125 ) Net loss attributable to LifeMD, Inc. common stockholders $ (2,851,436 ) $ (7,652,202 ) $ (2,243,195 ) $ (15,197,120 ) Basic loss per share attributable to LifeMD, Inc. common stockholders $ (0.06 ) $ (0.19 ) $ (0.05 ) $ (0.38 ) Diluted loss per share attributable to LifeMD, Inc. common stockholders $ (0.06 ) $ (0.19 ) $ (0.05 ) $ (0.38 ) Weighted average number of common shares outstanding: Basic 44,401,531 41,296,042 43,772,151 40,269,139 Diluted 44,401,531 41,296,042 43,772,151 40,269,139 LIFEMD, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES Net (loss) income $ (1,569,799 ) $ (6,837,034 ) $ 346,850 $ (13,485,957 ) Adjustments to reconcile net (loss) income to net cash provided by operating activities: Amortization of debt discount 100,444 100,444 200,888 200,888 Amortization of capitalized software 2,377,484 1,937,708 4,627,520 3,725,112 Amortization of intangibles 261,360 246,066 505,888 492,032 Accretion of consideration payable - - - 13,644 Depreciation of fixed assets 184,256 104,451 346,822 170,366 Noncash operating lease expense 281,956 184,588 577,689 391,397 Stock compensation expense 2,094,614 4,191,176 4,643,142 6,735,606 Changes in Assets and Liabilities Accounts receivable 2,862,645 (331,451 ) 887,684 (390,692 ) Product deposit (59,160 ) 172,804 (210,237 ) 369,716 Inventory (283,658 ) 312,921 (453,997 ) 699,213 Other current assets 262,226 (222,683 ) 707,257 (586,910 ) Operating lease liabilities (94,004 ) (130,846 ) (198,901 ) (334,790 ) Deferred revenue (2,835,878 ) 1,958,902 (2,690,893 ) 6,333,061 Accounts payable 8,613,842 2,656,697 8,283,386 3,966,874 Accrued expenses (3,556,881 ) 196,020 (5,865,264 ) 1,442,362 Net cash provided by operating activities 8,639,447 4,539,763 11,707,834 9,741,922 CASH FLOWS FROM INVESTING ACTIVITIES Cash paid for capitalized software costs (2,903,838 ) (2,488,039 ) (5,648,965 ) (4,502,712 ) Purchase of equipment (795,745 ) (642,053 ) (917,956 ) (817,645 ) Purchase of intangible assets - (1,936 ) - (1,936 ) Net cash used in investing activities (3,699,583 ) (3,132,028 ) (6,566,921 ) (5,322,293 ) CASH FLOWS FROM FINANCING ACTIVITIES Repayment of notes payable, net of prepayment penalty - (102,887 ) - (314,577 ) Repayment of debt instruments (2,052,288 ) - (2,052,288 ) - Cash proceeds from exercise of options - 100,000 - 107,813 Preferred stock dividends (776,562 ) (776,562 ) (1,553,125 ) (1,553,125 ) Contingent consideration payment for ResumeBuild - - - (31,250 ) Distributions to non-controlling interest (276,119 ) (36,000 ) (312,119 ) (72,000 ) Net cah used in financing activities (3,104,969 ) (815,449 ) (3,917,532 ) (1,863,139 ) Net increase in cash 1,834,895 592,286 1,223,381 2,556,490 Cash at beginning of period 34,393,410 35,110,929 35,004,924 33,146,725 Cash at end of period $ 36,228,305 $ 35,703,215 $ 36,228,305 $ 35,703,215 Cash paid for interest Cash paid during the period for interest $ 625,818 $ 637,788 $ 1,219,568 $ 1,282,707 Non-cash investing and financing activities: Cashless exercise of options $ 501 $ 4,489 $ 1,062 $ 5,127 Cashless exercise of warrants $ 3,901 $ 3,620 $ 3,901 $ 16,305 Stock issued for debt conversion $ 1,000,000 $ - $ 1,000,000 $ - Stock issued for asset acquisition $ 303,000 $ - $ 303,000 $ - Stock issued for noncontingent consideration payments $ - $ - $ - $ 642,000 Right of use asset $ - $ 1,045,305 $ - $ 2,331,231 Operating lease liabilities $ - $ 1,045,305 $ - $ 2,331,231 About the Use of Non-GAAP Financial Measures:To supplement our financial information presented in accordance with GAAP, we use adjusted EBITDA as a non-GAAP financial measure to clarify and enhance an understanding of past performance. Additionally, we report telehealth adjusted EBITDA as a non-GAAP financial measure to clarify the financial performance of our core telehealth business excluding WorkSimpli. We believe that the presentation of these financial measures enhances an investor's understanding of our financial performance. We further believe that these financial measures are useful financial metrics to assess our operating performance from period-to-period by excluding certain items that we believe are not representative of our core business. We use certain financial measures for business planning purposes and in measuring our performance relative to that of our competitors. Adjusted EBITDA is defined as income (loss) attributable to common shareholders before interest, taxes, depreciation, amortization, accretion, financing transaction expense, non-controlling interests, foreign currency translation, extraordinary litigation costs, loss on debt extinguishment, dividends, insurance acceptance and Sarbanes-Oxley readiness expenses, acquisition costs, severance expenses and stock-based compensation expense. We have provided below a reconciliation of adjusted EBITDA to net loss attributable to common shareholders, its most directly comparable GAAP financial measure. Telehealth and WorkSimpli adjusted EBITDA is defined as segment operating income or loss before depreciation, amortization, accretion, financing transaction expense, extraordinary litigation costs, insurance acceptance and Sarbanes-Oxley readiness expenses, acquisition costs, severance expenses and stock-based compensation expense. We have provided below a reconciliation of segment operating income or loss to segment Adjusted EBITDA. We believe the above financial measures are commonly used by investors to evaluate our performance and that of our competitors. However, our use of the terms adjusted EBITDA may vary from that of others in our industry. Telehealth adjusted EBITDA is specifically relevant to LifeMD to provide shareholders a comparable measure of profitability for our core telehealth business without the impact of our majority owned, but separately managed non-core subsidiary, WorkSimpli. Adjusted EBITDA, telehealth adjusted EBITDA and WorkSimpli adjusted EBITDA should not be considered as an alternative to net loss before taxes, net loss per share, operating loss or any other performance measures derived in accordance with GAAP as measures of performance. Reconciliation of Consolidated GAAP Net Loss to Consolidated Adjusted EBITDA (in whole numbers, unaudited) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net loss attributable to common shareholders $ (2,851,436 ) $ (7,652,202 ) $ (2,243,195 ) $ (15,197,120 ) Interest expense (excluding amortization of debt discount) 562,583 431,024 1,088,414 808,258 Depreciation, amortization and accretion expense 2,823,100 2,288,225 5,480,230 4,401,154 Amortization of debt discount 100,444 100,444 200,888 200,888 Financing transactions expense - 151,143 - 323,372 Litigation costs (a) 486,462 495,784 739,659 678,331 Severance costs 25,535 360,182 102,417 520,677 Acquisitions expenses 1,806,277 - 2,014,777 - Insurance acceptance readiness 34,780 263,492 175,140 969,834 Sarbanes Oxley readiness - 23,220 - 183,128 Foreign exchange loss 253,512 504,969 485,159 478,721 Taxes 502,408 3,000 502,408 3,000 Dividends 776,562 1,004,793 1,553,125 2,048,173 Stock-based compensation expense 2,094,614 4,191,176 4,643,142 6,735,606 Net income attributable to noncontrolling interests 505,075 38,606 1,036,920 158,038 Consolidated Adjusted EBITDA $ 7,119,915 $ 2,203,856 $ 15,779,084 $ 2,312,060 Reconciliation of Telehealth GAAP Operating Loss to Telehealth Adjusted EBITDA (in whole numbers, unaudited) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Telehealth operating loss $ (2,802,097 ) $ (6,450,683 ) $ (2,415,231 ) $ (13,070,446 ) Depreciation, amortization and accretion expense 1,785,344 1,485,696 3,476,753 2,848,770 Financing transactions expense - 151,143 - 323,372 Litigation costs (a) 486,462 495,784 739,659 678,331 Severance costs 25,535 360,182 102,417 520,677 Acquisitions expenses 1,806,277 - 2,014,777 - Insurance acceptance readiness 34,780 263,492 175,140 969,834 Sarbanes Oxley readiness - 23,220 - 183,128 Stock-based compensation expense 2,094,614 4,191,176 4,643,142 6,735,606 Telehealth Adjusted EBITDA $ 3,430,914 $ 520,010 $ 8,736,657 $ (810,728 ) (a) For the three and six months ended June 30, 2025 and June 30, 2024, the Company included costs related to a class action complaint alleging, inter alia, unauthorized disclosure of certain information of class members to third parties (the Marden v. LifeMD, Inc. case), as disclosed in the Company's Form 10-Q for the three and six months ended June 30, 2025, filed on August 5, 2025, and a heavily negotiated executive separation agreement. Reconciliation of WorkSimpli GAAP Operating Income to WorkSimpli Adjusted EBITDA (in whole numbers, unaudited) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 WorkSimpli operating income $ 1,895,325 $ 145,116 $ 4,051,383 $ 593,635 Depreciation, amortization and accretion expense 1,037,756 802,529 2,003,477 1,552,384 Foreign exchange loss 253,512 504,969 485,159 478,721 Distributions - 228,231 - 495,048 Taxes 502,408 3,000 502,408 3,000 WorkSimpli Adjusted EBITDA $ 3,689,001 $ 1,683,845 $ 7,042,427 $ 3,122,788

Acadia Pharmaceuticals to Participate in the Canaccord Genuity 45 th Annual Growth Conference
Acadia Pharmaceuticals to Participate in the Canaccord Genuity 45 th Annual Growth Conference

Business Wire

time28 minutes ago

  • Business Wire

Acadia Pharmaceuticals to Participate in the Canaccord Genuity 45 th Annual Growth Conference

SAN DIEGO--(BUSINESS WIRE)--Acadia Pharmaceuticals Inc. (Nasdaq: ACAD) today announced that it will participate in a fireside chat at Canaccord Genuity 45 th Annual Growth Conference on Wednesday, August 13, 2025 at 2:30 p.m. Eastern Time. A live webcast of Acadia's fireside chat will be accessible on the company's website, under the investors section and an archived recording will be available on the website for approximately one month following the presentation. About Acadia Pharmaceuticals Acadia is advancing breakthroughs in neurological and rare diseases to elevate life. Since our founding we have been working at the forefront of healthcare to bring vital solutions to people who need them most. We developed and commercialized the first and only FDA-approved drug to treat hallucinations and delusions associated with Parkinson's disease psychosis and the first and only approved drug in the United States and Canada for the treatment of Rett syndrome. Our clinical-stage development efforts are focused on Prader-Willi syndrome, Alzheimer's disease psychosis and multiple other programs targeting neuroscience and neuro-rare diseases. For more information, visit us at and follow us on LinkedIn and X.

Contineum Therapeutics Reports Second-Quarter 2025 Financial Results; Updates Key Clinical Development Milestones
Contineum Therapeutics Reports Second-Quarter 2025 Financial Results; Updates Key Clinical Development Milestones

Business Wire

time28 minutes ago

  • Business Wire

Contineum Therapeutics Reports Second-Quarter 2025 Financial Results; Updates Key Clinical Development Milestones

SAN DIEGO--(BUSINESS WIRE)--Contineum Therapeutics, Inc. (NASDAQ: CTNM) (Contineum or the Company), a clinical-stage biopharmaceutical company pioneering differentiated therapies for the treatment of neuroscience, inflammation and immunology (NI&I) indications, today reported its second-quarter 2025 financial results and updated its key clinical development milestones. Key Clinical Development Milestones The Company expects to report topline data from its ongoing PIPE-307 Phase 2 VISTA relapsing-remitting multiple sclerosis (RRMS) trial in the fourth quarter of 2025. This randomized, double-blind, placebo-controlled, multi-center, proof-of-concept trial is evaluating safety and efficacy in RRMS patients including clinical and imaging endpoints sensitive to remyelination. More information on this trial can be found at (NCT06083753). Contineum expects to report topline data from its PIPE-791 Phase 1b Positron Emission Tomography (PET) trial in the third quarter of 2025. This open-label, single-center trial is designed to assess the correlation between pharmacokinetics and lysophosphatidic acid 1 (LPA1) receptor occupancy using PET imaging to help guide dose selection in the next stages of clinical development. More information on this trial can be found at (NCT06683612). The Company is proceeding with activities related to the submission of regulatory applications with foreign regulatory authorities, and with the U.S. Food & Drug Administration (FDA), in support of its planned global PIPE-791 Phase 2 proof-of-concept clinical trial in IPF. This trial is expected to be initiated in the fourth quarter of 2025. In order to focus internal clinical resources on the PIPE-791 IPF program, the Company has postponed the initiation of its planned PIPE-791 Phase 2 clinical trial in progressive multiple sclerosis (PrMS) and the advancement of CTX-343 to first-in-human studies. The Company anticipates reporting topline data from its exploratory PIPE-791 Phase 1b trial in patients with chronic pain in the first half of 2026. This randomized, double-blind, placebo-controlled, crossover trial initiated patient dosing in March 2025. PIPE-791 is being evaluated for the treatment of patients with chronic osteoarthritis pain and chronic lower back pain. More information on this trial can be found at (NCT06810245). In December 2024, Johnson & Johnson began recruiting an estimated 124 adult participants for a Phase 2 Moonlight-1 trial of PIPE-307/JNJ-89495120. This trial is a randomized, double-blind, multicenter, placebo-controlled, proof-of-concept study to evaluate the efficacy, safety and tolerability of PIPE-307/JNJ-89495120 as monotherapy in adult participants with major depressive disorder (MDD). More information on this trial can be found at (NCT06785012). 'We continue to make significant progress with our lead programs and have taken several important steps to focus our key clinical development efforts,' said Carmine Stengone, CEO, Contineum Therapeutics. 'We're focused on initiating a comprehensive, well-designed global Phase 2 proof-of-concept trial in IPF by year-end. In parallel, we elected to postpone the initiation of our planned PIPE-791 PrMS and CTX-343 clinical trials in order to concentrate internal clinical resources on our IPF trial. We also expect to report topline data from our PIPE-307 Phase 2 VISTA trial for the treatment of RRMS in the fourth quarter of 2025. This topline data readout could provide the first evidence of remyelination in this challenging disease setting, while representing a critical step in delivering a novel therapy for patients in need.' Stengone continued, 'With a cash runway that is projected to extend through 2027, our near-term objectives are advancing the PIPE-307 partnered programs and PIPE-791 IPF program through critical milestones.' Second-Quarter 2025 Financial Results Cash, cash equivalents and marketable securities were $175.5 million as of June 30, 2025. Contineum believes it should have sufficient cash resources to fund its planned operations through 2027. During July 2025, the Company generated net proceeds of approximately $8.4 million from the issuance of 2,122,000 shares of Class A common stock in an at-the-market (ATM) offering at a weighted average price of $4.03 per share. Research and development expenses were $14.1 million, a 78 percent increase from the second quarter of 2024, largely due to higher clinical development expenses related to the advancement of the Company's PIPE-791 and PIPE-307 programs and higher employee-related costs. General and administrative expenses were $3.8 million, a 26 percent increase from the second quarter of 2024. The increase was primarily driven by higher stock-based compensation expense and employee-related costs. Net loss was $16.0 million for the three months ended June 30, 2025, as compared to $9.0 million for the prior-year quarter. About Contineum Therapeutics Contineum Therapeutics (Nasdaq: CTNM) is a clinical-stage biopharmaceutical company pioneering novel, oral small molecule therapies for NI&I indications with significant unmet need. Contineum is advancing a pipeline of internally-developed programs with multiple drug candidates now in clinical trials. PIPE-791 is an LPA1 receptor antagonist in clinical development for idiopathic pulmonary fibrosis, progressive multiple sclerosis and chronic pain. PIPE-307 is a selective inhibitor of the M1 receptor in clinical development for relapsing-remitting multiple sclerosis and major depressive disorder. For more information, please visit Forward-Looking Statements Certain statements contained in this press release, other than historical information, constitute forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include, but are not limited to, statements regarding the Company's clinical trial and product development plans and timelines, including, but not limited to, the Company's expectations related to the regulatory submission process and expected timing of the initiation of the Company's Phase 2 proof-of-concept clinical trial in IPF; the expected timing of topline data from the PIPE-307 Phase 2 VISTA RRMS trial, the PIPE-791 Phase 1b PET trial or from the exploratory Phase 1b chronic pain trial; the Company's cash runway; the indications, anticipated benefits of, and market opportunities for the Company's drug candidates; the Company's business strategies and plans; and the quotations of the Company's management. These statements involve known and unknown risks, uncertainties and other important factors that are in some cases beyond the Company's control and may cause its actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks and uncertainties, include, but are not limited to, the following: the Company is heavily dependent on the success of PIPE-791 and PIPE-307, both of which are in the early stages of clinical development, and neither of these drug candidates may progress through clinical development or receive regulatory approval; the results of earlier preclinical studies and clinical trials, including those conducted by third parties, may not be predictive of future results and unexpected adverse side effects or inadequate efficacy of the Company's drug candidates may limit their development, regulatory approval and/or commercialization; the timing and outcome of research, development and regulatory review is uncertain; the FDA or comparable foreign regulatory authorities may disagree as to the design or implementation of our proposed clinical trials; clinical trials and preclinical studies may not proceed at the time or in the manner expected, or at all; the potential for the Company's programs and prospects to be negatively impacted by developments relating to the Company's competitors, including the results of studies or regulatory determinations relating to the Company's competitors; risks associated with reliance on third parties to successfully conduct clinical trials and, in the case of PIPE-307, the Company's reliance, pursuant to a global license and development agreement, upon Janssen Pharmaceutica NV, a Johnson & Johnson company, to develop PIPE-307 for any other indication other than relapsing-remitting multiple sclerosis and, after completion of the Company's PIPE-307 Phase 2 VISTA trial, Janssen Pharmaceutica NV's decision, in its sole discretion, whether or not to further develop PIPE-307 for relapsing-remitting multiple sclerosis; the Company has incurred significant operating expenses since inception and it expects that its operating expenses will continue to significantly increase for the foreseeable future; the Company's license agreement with Janssen Pharmaceutica NV may not result in the successful development of PIPE-307; the Company may be unable to obtain, maintain and enforce intellectual property protection for its technology and drug candidates; and unstable market and economic conditions and military conflict may adversely affect the Company's business and financial condition and the broader economy and biotechnology industry. Additional risks and uncertainties that could affect the Company's business, operations and results are included under the captions, 'Risk Factors' and "Management's Discussion and Analysis of Financial Condition and Results of Operations' in the Company's periodic filings and in other filings that the Company makes with the Securities and Exchange Commission (SEC) from time to time, which are available on the Company's website at under the Investor section and on the SEC's website at Accordingly, readers should not rely upon forward-looking statements as predictions of future events. Except as required by applicable law, the Company undertakes no obligation to update publicly or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise. _____________ (a) Basic and diluted per share amounts are the same for Class A and Class B shares. Expand CONTINEUM THERAPEUTICS, INC. CONDENSED BALANCE SHEETS (unaudited) (in thousands, except share and par value data) June 30, 2025 Assets Current assets: Cash and cash equivalents $ 20,784 $ 21,943 Marketable securities 154,700 182,817 Prepaid expenses and other current assets 1,355 1,628 Total current assets 176,839 206,388 Property and equipment, net 856 989 Other long-term assets 186 3 Operating lease right-of-use assets 5,007 5,467 Total assets $ 182,888 $ 212,847 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 2,001 $ 1,811 Accrued expenses 3,747 6,711 Current portion of operating lease liabilities 1,466 1,452 Total current liabilities 7,214 9,974 Operating lease liabilities, net of current portion 4,284 4,807 Total liabilities 11,498 14,781 Commitments and contingencies (Note 8) Stockholders' equity: Class A common stock, $0.001 par value; authorized shares—200,000,000 at June 30, 2025 and December 31, 2024; issued and outstanding shares—19,190,723 and 19,125,377 at June 30, 2025 and December 31, 2024, respectively. 19 19 Class B common stock, $0.001 par value; authorized shares—20,000,000 at June 30, 2025 and December 31, 2024; issued and outstanding shares—6,729,172 at June 30, 2025 and December 31, 2024. 7 7 Preferred stock, $0.001 par value; authorized shares—10,000,000 at June 30, 2025 and December 31, 2024; no shares issued or outstanding at June 30, 2025 and December 31, 2024. — — Additional paid-in-capital 320,649 315,371 Accumulated deficit (149,432 ) (117,402 ) Accumulated other comprehensive income 147 71 Total stockholders' equity 171,390 198,066 Total liabilities and stockholders' equity $ 182,888 $ 212,847 Expand

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