Aileron Therapeutics Inc (NASDAQ:ALRN) Raises $10.3 Million: Develops Innovative Medicine To Safeguard Cancer Patients From Side Effects

Aileron Therapeutics Inc (NASDAQ:ALRN) develops innovative chemoprotective medicine to safeguard patients from side effects and toxicities induced by chemotherapy.

CEO of Aileron, Manuel Aivado, said the company is excited with positive data received from the ongoing Phase 1b POC (proof-of-concept) clinical trial of ALRN-6924 to protect cancer patients from BMT (bone marrow toxicities) caused by chemotherapy.

According to the available clinical data, ALRN-6924 safeguards patients against chemotherapy-induced thrombocytopenia and anemia. Aileron also noticed protection against Grade 4 neutropenia at a dosing of 0.3 mg/ kg.

ALRN-6924 is administered at 0.6 mg/kg, 0.3 mg/kg, and 1.2 mg/kg dosing levels 24 hours prior to each dose of topotecan for dosing optimization. It administered topotecan for 5 days at 21 days interval. The treatment using ALRN-6924 protected against chemotherapy-induced thrombocytopenia and anemia as per the report in June 2020.

Aileron will report Phase 1b dosing optimization results soon. The company will also commence a clinical study of ALRN-6924 involving heavy volunteers in Q3 2020. Accomplishments achieved during these clinical trials support Aileron’s plans to develop ALRN-6924 further to address multiple cancer types and chemotherapies. It targets to develop a distinct chemoprotective medicine to treat several patients suffering from p53-mutated cancers.

Initiates patient enrollment for Phase 1b clinical study

Aileron commenced enrollment of patients for the Phase 1b clinical trial in June 2020. It intends to understand whether ALRN-6924 administered 6 hours before using topotecan will exhibit protective effects compared to ALRN-6924 is given 24 hours before the dosing of topotecan. The company will report dosing optimization data in Q4 2020.

The ongoing coronavirus impact at the trial sites of Aileron and the healthcare system may delay the announcement of dosing optimization results.

Raises $10.3 million

Aileron raised funds of $10.3 million in June 2020 through a public offering of its common stock at $1.10/ share.

Aileron reduced the loss to $4.4 million in Q2 2020 from $7.2 million in Q2 2019. It has lowered R&D expenses to $2.5 million in Q2 2020 from $4.3 million in Q2 2019. The company also experienced a drop in general and administrative expenses to $1.9 million in Q2 2020.

Manuel will participate in the upcoming shareholders’ conferences (40th annual growth conference and William Blair Biotech Focus Conference) in August 2020.