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Another stock that should be firmly on your list is nasdaq: axgt (Axovant Gene Therapies Ltd). The company has changed its name to Sio Gene Therapies, Inc; the ticker symbol is (NASDAQ: SIOX). We will refer to the company with its previous ticker symbol (nasdaq: axgt).
The emerging company specializes in gene therapy and develops products for debilitating neurodegenerative diseases. The company has several clinical-stage programs in its portfolio. Programs include the treatment of Parkinson’s disease. A program for the treatment of GM1 gangliosidosis. And a program to treat GM2 gangliosidosis.
The company currently has a license with Oxford BioMedica and The University of Massachusetts Medical School. The company changed its name in November 2020 to Sio Gene Therapies, Inc, and was founded in 2014. The company is based in New York.
nasdaq: axgt combines cutting-edge science in the development of genetic medicines that improve the lives of patients. The company has a pipeline of clinical-stage candidates including, AAV-based gene therapies for GM1 gangliosidosis and Tay-Sachs/Sandhoff diseases. These are rare fatal pediatric conditions caused by gene deficiencies.
The company is expanding its reach of gene therapy for prevalent conditions like Parkinson’s disease, affecting millions globally. Sio is run by an experienced team of gene therapy development experts, supported by academic, industry, and patient advocacy organizations. Sio is primarily focused on its gene therapies’ transformational potential and aiding to liberate patients with debilitating diseases through clinical trials.
About nasdaq: axgt
The company primarily delivers gene therapies to transform treatments in severe neurodegenerative diseases. The company’s primary aim is to provide cutting-edge science to fill unmet medical needs that provide lifelong benefits.
The company aims to push gene therapy boundaries, developing treatments for GM1 gangliosidosis, Parkinson’s disease, and Tay-Sachs/Sandhoff disease.nasdaq: axgt is built on decades of research and scientific expertise.
The company collaborates with leading gene therapy institutes to liberate patients with debilitating diseases through their powerful gene therapies. These therapies will ultimately improve the lives of patients globally. The company is focused on advancing various programs for fatal pediatric and adult neurodegenerative into clinical development, enabling patients to access the care and therapies they need.
nasdaq: axgt – Team
The company’s team includes leading scientific and gene therapy experts. These experts have years of experience in all stages of commercialization and drug development. The company works passionately to treat life-limiting neurodegenerative diseases.
Sio produces transformative treatments. They are aiding the underlying biology of both rare and prevalent neurodegenerative diseases. The team understands the genetic basis of many conditions, which place the company in a new gene therapy era. The company provides a unique tailored approach to features and diseases to provide maximum benefit.
Parkinson’s Disease: AXO-Lenti-PD
This is a progressive neurodegenerative disorder mainly caused by the loss of dopamine signaling in the brain. This can result in the decline of motor control and quality of life. There is currently no cure for this disease. Still, through dopaminergic strategies, patients see short-term improvements, ultimately waning the disease progression.
The company’s initial clinical data demonstrate that a single dose of AXO-Lenti-PD can ultimately improve motor functions that can turn back the clock.
nasdaq: axgt understand that delivering impactful gene therapies to patients in need is committed to timely, clear, and transparent communications. Because they know that every day of a patient’s life counts when enduring these debilitating diseases.
nasdaq: axgt Stock Price
Sio is currently trading at 2.54 and is decreased by 4.8689% at the time of this article. The company’s 52-week range is 1.8600 – 5.7400, with a volume of 297,669. The company does not have a P.E. Ratio at this time.
The company does not have an earnings date at this time, and there is no dividend yield available. The company’s market capitalization is 149,068 Million.
nasdaq: axgt Press Releases
nasdaq: axgt Announces $11.6 Million from Closing of the Sale of Arvelle Therapeutics
Sio expects to receive $4.8 million by the middle of 2021. It brings the total to over $16.4 Million in net proceeds this year.
The company has already received $11.6 million from the sale of Arvelle Therapeutics to Angelini Pharma. Additional payments to Sio are expected in the coming months.
nasdaq: axgt Financial Results for Third Fiscal Quarter
nasdaq: axgt has $81 million in cash equivalents for 2020 and expects $16 million to sell Arvelle Therapeutics.
Pavan Cheruvu, the C.E.O., commented Sio had made significant advancements for its patient-focused mission. The company aims to improve lives for the patients living with debilitating diseases through its gene therapies. The company’s first programs to enter clinical trials include Tay-Sachs/Sandhoff diseases and AAV-based gene therapies for GM1 gangliosidosis. The company has already seen the incredible therapeutic potential of these treatments.
The company has seen significant progress in its program for GM2 gangliosidosis. With the first infantile patient dosed.
The most advanced gene therapy in clinical development is AXO-Lenti-PD for Parkinson’s disease, with a profile aiming to improve motor function throughout a broad spectrum of diseases. The company will work closely with our partner Oxford Biomedica on the development manufacturing process to scale up the clinical program’s production and advancement.
The company’s recent rebranding includes a leading AAV scientist to our advisory board. This rebranding also provided an expansion for research and development capabilities through a new laboratory in North Carolina.
The extended cash runway leaves the company in an excellent position to execute throughout our pipeline.
We intend to advance treatments that can potentially alter lives throughout the years ahead, and we will explore further opportunities to expand our existing portfolio of gene therapies.
nasdaq: axgt currently has $81 million cash equivalents, holding no long or short-term debts on the balance sheet. Sio expects its cash and cash equivalents to sustain its operation into the second quarter of 2022.
nasdaq: axgt Update on Cash Position and Major Upcoming GM1 Gangliosidosis
The company announced that it had $120.9 million in cash equivalents on March 12 2021, which was augmented by an investment of $15 million by Suvretta Capital.
nasdaq: axgt estimates that it is fully funded for an upcoming milestone for GM1 gene therapy program.
The company raised $49.1 million and 37.1 million from gross proceedings from its common stock’s public sales.
David Nassif, C.F.O. commented now that the company has a strong balance sheet. It enables the company to fulfill our patient-orientated mission and advance our industry-leading pipeline programs throughout the future. nasdaq: axgt believes that the three products in the pipeline are advanced gene therapies for clinical development. We will look forward to progressing these programs. The company will also gather additional data to support our leading position.
Gavin Corcoran, MD, Chief R&D Officer, commented We would like to thank our clinical collaborators for their ongoing support at the N.I.H. and GM1 patient community. We have seven patients already enrolled in our gene therapy trials in GM1 gangliosidosis. When the data is collected from these key milestones, confirms, and builds upon preliminary results, it may become the first disease-modifying gene therapy to enter studies.
This pioneering company primarily delivers gene therapies to transform treatments in severe neurodegenerative diseases. nasdaq: axgt aims to push the boundaries of gene therapy, developing treatments for GM1 gangliosidosis, Parkinson’s disease, and Tay-Sachs/Sandhoff disease.
Sio produces transformative treatments. For underlying biology of rare and prevalent neurodegenerative diseases. The team understands the genetic basis of many diseases, which places the company in a new gene therapy era. The company provides a unique tailored approach to features and conditions to provide maximum benefit.
We then discovered the news nasdaq: axgt Announces $11.6 Million from Closing of Arvelle Therapeutics’ Sale. This sale puts the company in a stronger financial position to conduct more trials, collect more data, and seek out opportunities through partners for expansion.
The company’s balance sheet continued to improve nasdaq: axgt has $81 million in cash equivalents for 2020 and expects $16 million to sell Arvelle Therapeutics. Adding to this, the company’s first programs to enter clinical trials include Tay-Sachs/Sandhoff diseases and AAV-based gene therapies for GM1 gangliosidosis. The company has already seen the incredible therapeutic potential of these treatments.
The company continues its trials and is already seeing incredible results in treatments for patients. Sio will continue to work closely with our partner Oxford Biomedica on the development manufacturing process to scale up the clinical program’s production and advancement.
The company’s extended cash runway leaves them in an excellent position to execute throughout their products pipeline. Throughout the years ahead, the company intends to advance treatments that can potentially alter lives. They are exploring further opportunities to expand their existing portfolio of gene therapies.
nasdaq: axgt currently has $81 million cash equivalents, holding no long or short-term debts on the balance sheet. Sio expects its cash and cash equivalents to sustain its operation into the second quarter of 2022. As Sio maintains a strong balance sheet, it can focus on advancing its pipeline programs for more clinical testing and data collection.
The company will progress with its major gene therapy programs and gather additional data to support its leading position. When the data is collected from these critical milestones, confirms, and builds upon preliminary results, it may become the first disease-modifying gene therapy to enter studies.
This could provide Sio with a real breakthrough for gene therapy treatments globally and will ultimately change thousands of people’s lives who live with these debilitating diseases. This is undoubtfully a company to add to your watchlist, showing great potential for expansion and advancement in gene therapy treatments.
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