Aadi Bioscience reports Q2 EPS (67c), consensus (62c)

Reports Q2 revenue $6.2M, consensus $6.2M. Cash, cash equivalents and short-term investments as of June 30, were $134.9M as compared to $172.6M as of December 31, 2022, which is expected to fund operations into 2025 based on current plans. “We are seeing continued growth in FYARRO sales and are pleased with the positive feedback we are receiving from the treatment community,” said Scott Giacobello, Interim CEO and President and CFO of Aadi. “The PRECISION1 trial is progressing well, and we are looking forward to providing results of an interim analysis on 40 patients with appropriate follow-up before the end of the year. We expect to complete enrollment as planned in the spring of 2024.” “With PRECISION1 on track, we are excited to announce the expansion of our pipeline to further investigate mTOR pathway inhibition in endometrial cancer and NETs,” continued Giacobello. “We are encouraged by the positive feedback received from clinicians, and we believe our preclinical data supporting these programs is promising. We look forward to harnessing the unique pharmacology of nab-sirolimus, both in combination and as monotherapy, to provide enhanced therapeutic benefit in these indications with meaningful patient populations and high unmet need.”