Aadi Bioscience reports Q4 EPS (60c), consensus (65c)

Reports Q4 revenue $6.33M, consensus $6.29M. Cash, cash equivalents and short-term investments as of December 31, 2023, were $108.8M as compared to $172.6M as of December 31, 2022, which is expected to fund operations into Q4 2025 based on current plans. “With strong execution against our commercial and development goals, 2023 was a year of progress and momentum for Aadi,” said Dave Lennon, President and CEO of Aadi Bioscience. “As the preferred treatment for malignant PEComa, FYARRO saw significant growth and high penetration in academic and community settings. Clinically, we were encouraged by the interim results from the registration-directed PRECISION1 trial, and look forward to the two-thirds readout expected in Q3. We also initiated enrollment of two Phase 2 trials in what we believe are promising mTOR-driven cancer targets, endometrial cancer and neuroendocrine tumors, as we further characterize the potential of nab-sirolimus. With a commercial foundation, bold development vision and solid cash runway in to Q4 2025, we believe we are well-positioned to realize our ambition of becoming a multi-indication precision oncology company.”