Decibel Therapeutics reports Q4 cash position $104.6M vs $162.3M last year

Reports Q4 cash Position: As of December 31 2022, cash, cash equivalents and available-for-sale securities were $104.6M, compared to $162.3M as of December 31 . Research and Development Expenses: Research and development expenses were $11.6M for the fourth quarter of 2022, compared to $8M for the same period in 2021. Research and development expenses were $40.3M for the full year 2022, compared to $29.8M for the full year 2021. The increase in research and development expenses for the fourth quarter and full year 2022 were primarily due to additional costs to advance DB-OTO in support of the Company’s IND and CTA filings, higher clinical development costs to support its upcoming Phase 1/2 clinical trial of DB-OTO, higher research costs related to its other preclinical gene therapy programs and higher personnel-related costs due to increased headcount, wages and stock-based compensation.."I am incredibly pleased with the progress Decibel made throughout 2022. We believe the clearance of our IND and CTA for DB-OTO supports our belief that AAV gene therapy is an ideal modality for the inner ear. We remain on track to initiate CHORD , the global Phase 1/2 clinical trial of DB-OTO in the first half of the year, evaluating DB-OTO in pediatric patients of diverse ages, including infants two years of age and younger. Beyond our clinical stage product candidates, we are making encouraging progress on our other programs and platform and were pleased to present data supporting the selection of a product candidate for our GJB2 program. GJB2-related hearing loss is the leading cause of autosomal recessive, non-syndromic, congenital hearing loss worldwide. We believe cell-selective expression of GJB2 will be critical for future success of any gene therapy targeting GJB2-related hearing loss, and the identification of gene regulatory elements to confer this precise expression showcases the strength of our platform," said Laurence Reid, Ph.D., Chief Executive Officer of Decibel. "In June 2022, we reported positive data from an interim analysis of our Phase 1b clinical trial of DB-020, supporting both its potential benefit and the integrated capabilities Decibel has implemented to develop innovative therapeutics for conditions of the inner ear. As we look ahead, we remain deeply committed to our mission of restoring and improving hearing and balance for those in need."