Encouraging interim clinical results from studies of ALRN-6924 and progress against new programs support advancement and expansion of portfolio development plan
CAMBRIDGE, Mass., April 02, 2018 (GLOBE NEWSWIRE) -- Aileron Therapeutics (NASDAQ:ALRN), the clinical-stage leader in the field of stapled peptide therapeutics for cancers and other diseases, today reported business highlights and financial results for the fourth quarter and full year ended December 31, 2017.
“2017 was a pivotal year for Aileron, marked by our initial public offering, key additions to our leadership team, and important progress across our clinical and preclinical programs,” said Joseph A. Yanchik III, President and Chief Executive Officer. “As we are showing with our ALRN-6924 program for cancer, we are committed to bringing lifesaving medicines to patients through our scientific leadership in stapled peptides. We are encouraged by our interim clinical data and by both the progress we have made in the last year in understanding the application of ALRN-6924 and advancing our pipeline as we pursue our objective of substantially improving patient outcomes. This year we want to build on our momentum by focusing on three key priorities:
Program Highlights and Current Updates
Corporate Updates
Fourth Quarter and Full Year 2017 Financial Results
Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures | ||||||||||||||||||
Aileron Therapeutics, Inc. | ||||||||||||||||||
Reconciliation of non-GAAP net loss per share, basic and diluted | ||||||||||||||||||
(in thousands, except per share data) | ||||||||||||||||||
Three Months Ended December 31, | Year Ended December 31, | |||||||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||||
GAAP net loss per share attributable to common stockholders—basic and diluted | $ | (0.47 | ) | $ | (10.31 | ) | $ | (3.04 | ) | $ | (42.35 | ) | ||||||
Numerator: | ||||||||||||||||||
GAAP net loss | $ | (6,865 | ) | $ | (4,442 | ) | $ | (22,604 | ) | $ | (18,123 | ) | ||||||
Accretion of redeemable convertible preferred stock to redemption value | - | (19 | ) | (41 | ) | (75 | ) | |||||||||||
GAAP net loss attributable to common stockholders | $ | (6,865 | ) | $ | (4,461 | ) | $ | (22,645 | ) | $ | (18,198 | ) | ||||||
Denominator: | ||||||||||||||||||
GAAP weighted average common shares outstanding — basic and diluted | 14,720,734 | 432,413 | 7,443,078 | 429,686 | ||||||||||||||
Assumed conversion of redeemable convertible preferred stock to common stock(1) | - | 9,060,073 | 5,348,734 | 9,069,374 | ||||||||||||||
Non-GAAP weighted average common shares outstanding - basic and diluted | 14,720,734 | 9,492,486 | 12,791,812 | 9,499,060 | ||||||||||||||
Non-GAAP net loss per share attributable to common stockholders—basic and diluted | $ | (0.47 | ) | $ | (0.47 | ) | $ | (1.77 | ) | $ | (1.91 | ) | ||||||
(1) All redeemable convertible preferred stock converted to common stock upon the settlement of the IPO on July 5th. | ||||||||||||||||||
Conversion of preferred stock into common stock is presumed to have occurred at the beginning of each of the periods presented. | ||||||||||||||||||
Source: Aileron Therapeutics
Investors: Aileron Therapeutics Don Dougherty, CFO 617-995-0900 [email protected] Media: BMC Communications Brad Miles, 646-513-3125 [email protected]
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