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Eidos Therapeutics, Inc. (EIDX)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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51.40+0.87 (+1.72%)
As of 1:13PM EDT. Market open.
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Previous Close50.53
Open50.77
Bid50.39 x 1100
Ask50.82 x 800
Day's Range50.15 - 51.67
52 Week Range28.39 - 66.56
Volume41,512
Avg. Volume64,921
Market Cap1.983B
Beta (5Y Monthly)-0.35
PE Ratio (TTM)N/A
EPS (TTM)-1.70
Earnings DateOct. 29, 2020 - Nov. 02, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est59.38
  • GlobeNewswire

    Eidos Therapeutics Appoints Industry Leaders With Significant Development and Commercial Expertise to Board of Directors

    SAN FRANCISCO, Aug. 07, 2020 (GLOBE NEWSWIRE) -- Eidos Therapeutics, Inc. (Nasdaq: EIDX), a clinical stage biopharmaceutical company focused on addressing the large and growing unmet need in diseases caused by transthyretin (TTR) amyloidosis (ATTR), today announced that it has added two new independent directors to its board who bring deep commercial and strategic experience to the company: Suzanne Sawochka Hooper, the former executive vice president and general counsel of Jazz Pharmaceuticals, and Duke Rohlen, the CEO and managing partner of Ajax Health.Eidos is developing acoramidis (formerly AG10) as a potentially best-in-class treatment option for ATTR patients.Ms. Hooper and Mr. Rohlen will replace departing board members Rajeev Shah and Eric Aguiar, M.D.“I feel grateful to be working with Suzanne and Duke as we continue to execute our Phase 3 clinical trial and prepare for commercialization. I admire their collective accomplishments greatly and look forward to learning from them. I’d also like to thank Eric and Raj for their fine service in shepherding Eidos to this point. In just a few years we’ve been able to create a remarkable company and that is poised to help patients at scale,” said Eidos CEO and founder, Neil Kumar, Ph.D.Ms. Hooper brings more than 25 years of executive and corporate leadership experience and sophisticated legal expertise to the Eidos board. As executive vice president and general counsel at Jazz Pharmaceuticals from March 2012 through February 2019, she played an active role in the management and strategic development of the company during a period of substantial growth. Prior to joining Jazz, Ms. Hooper was a partner in the Cooley LLP law firm, representing a broad range of companies and investors in the life sciences industry and working with boards of directors and senior management teams on complex legal and strategic matters, including M&A.  Ms. Hooper has been a member of the Board of Directors of NGM Biopharmaceuticals, Inc. since 2018."I'm excited by the potential of acoramidis to offer patients with ATTR a best-in-class treatment option and impressed by the incredible progress that Eidos has made,” said Ms. Hooper. “I'm honored to join the Eidos board and look forward to working with the entire Eidos team and contributing to the company’s success during the next stage of the company's development."Mr. Rohlen is a serial entrepreneur who has led five medical technology companies and brings an expertise in business-building and cardiovascular marketing to the Eidos board. Before founding Ajax Health, a holding company that funds and operates innovative healthcare companies, he co-founded and served as the chairman and CEO of EPIX Therapeutics, which was acquired by Medtronic in 2019. He also co-founded and served as CEO of Spirox, which was acquired by Entellus in 2017; and CV Ingenuity, which was acquired by Covidien in 2013. Previously Mr. Rohlen was the president of FoxHollow Technologies, which was sold to ev3 Inc. in 2007.“Acoramidis has the opportunity to fundamentally alter therapy treatment for patients with ATTR,” Mr. Rohlen said. “I am impressed by Neil’s relentless work over the last few years to build an excellent leadership team, advance acoramidis and strengthen the company. I am thrilled to partner with Eidos and I look forward to working with the entire board and the executive team to continue to drive Eidos’ therapeutic innovation and success.”About acoramidisAcoramidis (formerly AG10) is an investigational, orally-administered small molecule designed to potently stabilize tetrameric transthyretin, or TTR, thereby halting at its outset the series of molecular events that give rise to TTR amyloidosis, or ATTR. In a randomized, placebo-controlled Phase 2 clinical trial in patients with symptomatic ATTR-CM, acoramidis was generally well tolerated, demonstrated greater than 90% average TTR stabilization at day 28, and increased serum TTR concentrations, a prognostic indicator of survival in a retrospective study of ATTR-CM patients, in a dose-dependent manner. The open label extension of this Phase 2 clinical trial, or the Phase 2 OLE, identified no safety signals of potential clinical concern associated with administration of AG10 15 months after study initiation. In an exploratory analysis, lower rates of all-cause mortality (including death and cardiac transplantation) and cardiovascular hospitalizations were observed in study participants than in placebo-treated ATTR-CM patients in the ATTR-ACT study. Cardiac biomarkers and echocardiographic parameters were stable in the acoramidis Phase 2 OLE.Acoramidis is currently being studied in a Phase 3 clinical trial in patients with ATTR-CM (ATTRibute-CM), and we expect to initiate a Phase 3 clinical trial of acoramidis in patients with ATTR-PN (ATTRibute-PN) in the second half of 2020.Acoramidis was designed to mimic a naturally-occurring variant of the TTR gene (T119M) that is considered a rescue mutation because co-inheritance has been shown to prevent ATTR in individuals also inheriting a pathogenic, or disease-causing, mutation in the TTR gene. To our knowledge, acoramidis is the only TTR stabilizer in development that has been observed to mimic the stabilizing structure of this rescue mutation.About transthyretin amyloidosis (ATTR)There is significant medical need in ATTR given the large patient population and limited current standard of care. ATTR is caused by the destabilization of TTR due to inherited mutations or aging and is commonly divided into three distinct categories: wild-type ATTR cardiomyopathy (ATTRwt-CM), mutant ATTR cardiomyopathy (ATTRm-CM), and ATTR polyneuropathy (ATTR-PN). The worldwide prevalence of each disease is approximately 400,000 patients, 40,000 patients and 10,000 patients, respectively.All three forms of ATTR are progressive and fatal. For patients with ATTRwt-CM and ATTRm-CM, symptoms usually manifest later in life (age 50+), with median survival of three to five years from diagnosis. ATTR-PN either presents in a patient's early 30s or later (age 50+), and results in a median life expectancy of five to ten years from diagnosis for untreated patients. Progression of all forms of ATTR causes significant morbidity, impacts productivity and quality of life, and creates a significant economic burden due to the costs associated with progressively greater patient needs for supportive care.About Eidos TherapeuticsEidos Therapeutics is a clinical stage biopharmaceutical company focused on addressing the large and growing unmet need in diseases caused by transthyretin (TTR) amyloidosis (ATTR). Eidos is developing acoramidis, a potentially disease-modifying therapy for the treatment of ATTR. For more information, please visit eidostx.com. Media Contact: Carolyn Hawley Canale Communications (619) 849-5382 carolyn@canalecomm.com Investor Contact: John Grimaldi Burns McClellan (212) 213-0006 ext. 362 jgrimaldi@burnsmc.comSource: Eidos Therapeutics, Inc.

  • GlobeNewswire

    Eidos Therapeutics Reports Second Quarter 2020 Financial Results and Business Update

    SAN FRANCISCO, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Eidos Therapeutics, Inc. (Eidos) (Nasdaq:EIDX),  today reported its financial results for the second quarter ended June 30, 2020 and provided an update on the company’s operations. “While the COVID-19 pandemic poses an unpredictable threat to our clinical development program, our team continues to work tirelessly with the ATTR patient community, our investigators and collaborators, and regulators to ensure the progression and integrity of our trials,” said Neil Kumar, PhD, chief executive officer of Eidos. “Though the situation is far from resolved, we are incredibly grateful to these groups for their commitment to our program and are encouraged to have observed a re-opening of clinical research activities worldwide in recent months. The determination and resilience of this community inspires our efforts to develop acoramidis (formerly AG10) as a potentially best-in-class treatment option for ATTR patients.”Acoramidis selected as non-proprietary name for AG10 The International Nonproprietary Naming Committee of the World Health Organization (WHO) has selected acoramidis (pronounced “a kor am' i dis”) as the proposed International Nonproprietary Name, or pINN, for the company’s lead product candidate, AG10. The established suffix “-amidis” was utilized to convey the molecule’s proposed mode of action to inhibit amyloid deposition.WHO’s INN Expert Group assigns simple, informative and unique nonproprietary names for drugs to allow for clear communication among health professionals and to identify chemical/pharmacological relationships. Eidos will use “acoramidis” in upcoming presentations, publications and public statements as the company continues progressing toward commercialization of the product.Update on Company OperationsThe Company expects enrollment of patients in its Phase 3 clinical trial of acoramidis in ATTR-CM patients (ATTRibute-CM) to be completed in the first half of 2021 and the Company plans to initiate a Phase 3 study of acoramidis in ATTR-PN (ATTRibute-PN) in the second half of 2020.Second Quarter 2020 Financial and Operating ResultsCash and cash equivalents totaled $174.8 million at June 30, 2020 compared with $191.2 million at December 31, 2019.Eidos reported a net loss attributable to common stockholders of approximately $28.8 million or $0.76 per common share, for the second quarter of 2020, as compared to a net loss attributable to common stockholders of $14.1 million or $0.39 per common share, for the second quarter of 2019. The increase in net loss attributable to common stockholders was driven primarily by research and development expenses related to acoramidis (formerly AG10) clinical trials and other pre-clinical studies, and general and administrative expenses for operations.Research and development expenses for the second quarter of 2020 were $17.9 million, as compared to $12.5 million for the same period in the prior year. Research and development expenses for the second quarter included costs related to contract manufacturing and the preparation for and conduct of clinical trials of acoramidis.General and administrative expenses for the second quarter of 2020 were $10.3 million, as compared to $2.3 million for the same period in the prior year. The increase in general and administrative expense in the second quarter of 2020 was due primarily to an increase in financial advisory consulting services, marketing costs, salaries and employee-related expense primarily due to an increase in headcount to support the growth of our operations, and other administrative expenses.Six Months Ended June 30, 2020 Financial ResultsEidos reported a net loss attributable to common stockholders of $51.7 million or $1.35 per common share, for the six months ended June 30, 2020, as compared to a net loss attributable to common stockholders of $25.8 million or $0.71 per common share for the six months ended June 30, 2019. The increase in net loss attributable to common stockholders was driven primarily by research and development expenses related to acoramidis clinical trials and other pre-clinical studies, and general and administrative expenses for operations.Research and development expenses for the six months ended June 30, 2020 were $35.5 million, as compared to $21.0 million for the same period in the prior year. Research and development expenses for the period included costs related to contract manufacturing, and the preparation for, and the increase in, activity related to our clinical trials.General and administrative expenses for the six months ended June 30, 2020 were $15.6 million, as compared to $6.3 million for the same period in the prior year. The increase in general and administrative expense in these periods was due primarily to an increase in financial advisory consulting services, professional service fees, salaries and employee-related expense primarily due to an increase in headcount to support the growth of our operations, and other administrative expenses.About acoramidisAcoramidis (formerly AG10) is an investigational, orally-administered small molecule designed to potently stabilize tetrameric transthyretin, or TTR, thereby halting at its outset the series of molecular events that give rise to TTR amyloidosis, or ATTR. In a randomized, placebo-controlled Phase 2 clinical trial in patients with symptomatic ATTR-CM, acoramidis was generally well tolerated, demonstrated greater than 90% average TTR stabilization at day 28, and increased serum TTR concentrations, a prognostic indicator of survival in a retrospective study of ATTR-CM patients, in a dose-dependent manner. The open label extension of this Phase 2 clinical trial, or the Phase 2 OLE, identified no safety signals of potential clinical concern associated with administration of AG10 15 months after study initiation. In an exploratory analysis, lower rates of all-cause mortality (including death and cardiac transplantation) and cardiovascular hospitalizations were observed in study participants than in placebo-treated ATTR-CM patients in the ATTR-ACT study. Cardiac biomarkers and echocardiographic parameters were stable in the acoramidis Phase 2 OLE.Acoramidis is currently being studied in a Phase 3 clinical trial in patients with ATTR-CM (ATTRibute-CM), and we expect to initiate a Phase 3 clinical trial of acoramidis in patients with ATTR-PN (ATTRibute-PN) in the second half of 2020.Acoramidis was designed to mimic a naturally-occurring variant of the TTR gene (T119M) that is considered a rescue mutation because co-inheritance has been shown to prevent ATTR in individuals also inheriting a pathogenic, or disease-causing, mutation in the TTR gene. To our knowledge, acoramidis is the only TTR stabilizer in development that has been observed to mimic the stabilizing structure of this rescue mutation.About transthyretin amyloidosis (ATTR)There is significant medical need in ATTR given the large patient population and limited current standard of care. ATTR is caused by the destabilization of TTR due to inherited mutations or aging and is commonly divided into three distinct categories: wild-type ATTR cardiomyopathy (ATTRwt-CM), mutant ATTR cardiomyopathy (ATTRm-CM), and ATTR polyneuropathy (ATTR-PN). The worldwide prevalence of each disease is approximately 400,000 patients, 40,000 patients and 10,000 patients, respectively.All three forms of ATTR are progressive and fatal. For patients with ATTRwt-CM and ATTRm-CM, symptoms usually manifest later in life (age 50+), with median survival of three to five years from diagnosis. ATTR-PN either presents in a patient's early 30s or later (age 50+), and results in a median life expectancy of five to ten years from diagnosis for untreated patients. Progression of all forms of ATTR causes significant morbidity, impacts productivity and quality of life, and creates a significant economic burden due to the costs associated with progressively greater patient needs for supportive care.About Eidos TherapeuticsEidos Therapeutics is a clinical stage biopharmaceutical company focused on addressing the large and growing unmet need in diseases caused by transthyretin (TTR) amyloidosis (ATTR). Eidos is developing acoramidis, a potentially disease-modifying therapy for the treatment of ATTR. For more information, please visit www.eidostx.com.Forward-Looking StatementsThis release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act. All statements other than statements of historical facts, including the statements about the potential therapeutic and clinical benefits of acoramidis, the impact of the COVID-19 pandemic on our research and development activities and other business operations, our ability to complete the enrollment of patients in and conduct the ATTRibute-CM trial and to initiate and conduct our planned Phase 3 clinical trial of acoramidis in ATTR-PN in accordance with our plans, future clinical and regulatory milestones of acoramidis, the timing of these events, the indications we intend to pursue and our possible clinical or other business strategies, and our capital requirements and ability to fund our clinical development plans, are forward-looking statements. Forward-looking statements can be identified by terms such as “believes,” “expects,” “plans,” “potential,” “would” or similar expressions and the negative of those terms. These forward-looking statements are based on our management’s current beliefs and assumptions about future events and on information currently available to management.  Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to, risks and uncertainties related to: our limited operating history and historical losses, our liquidity to fund the development of acoramidis through current and future milestones, our ability to raise additional funding to complete the development of acoramidis, our dependence on the success of acoramidis, our ability to enroll patients in our ongoing and planned clinical trials, results from our clinical trials and pre-clinical studies and those of third parties working in the same area as our product candidate, our ability to advance acoramidis in clinical development in accordance with our plans, and our dependence on third parties in connection with our manufacturing, clinical trials and pre-clinical studies. Additional risks and uncertainties that could affect our future results are included in the section titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, to be filed with the Securities and Exchange Commission concurrently herewith. Additional information on potential risks will be made available in other filings that we make from time to time with the SEC. In addition, any forward-looking statements contained in this press release are based on assumptions that we believe to be reasonable as of this date. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements. EIDOS THERAPEUTICS, INC. Condensed Statements of Operations (Unaudited) (In thousands, except share and per share data)                       Three Months Ended   Six Months Ended    June 30,   June 30,    2020   2019   2020   2019  Research and development$ 17,924  $ 12,497  $ 35,499  $ 21,046  General and administrative  10,317    2,297    15,628    6,332  Total operating expenses  28,241    14,794    51,127    27,378                       Loss from operations  (28,241)   (14,794)   (51,127)   (27,378) Interest expense  (604)   -    (1,122)   -  Other income (expense), net  (4)   741    576    1,592  Net and comprehensive loss$ (28,849) $ (14,053) $ (51,673) $ (25,786)                      Net loss attributable to common stockholders$ (28,849) $ (14,053) $ (51,673) $ (25,786) Net loss per share attributable to common stockholders$ (0.75) $ (0.39) $ (1.35) $ (0.71) Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted  38,291,414    36,309,740    38,150,520    36,242,814                                            * Includes stock-based compensation as follows                    Research and development$ 1,448  $ 552  $ 2,363  $ 1,004  General and administrative  1,270    614    2,282    1,126  Total stock-based compensation expense$ 2,718  $ 1,166  $ 4,645  $ 2,130    EIDOS THERAPEUTICS, INC. Condensed Balance Sheets (Unaudited) (In thousands) June 30,  December 31,             2020   2019           Assets        Current assets:        Cash$174,821  $191,157  Related party receivable 154   85  Prepaid expenses and other current assets 3,818   4,678  Total current assets 178,793   195,920  Property and equipment, net 1,317   1,259  Operating lease, right of use asset 3,781   4,010  Other assets 2,779   2,631  Total assets$186,670  $203,820  Liabilities and Stockholders’ Equity        Current liabilities:        Accounts payable$2,240  $3,151  Related party payable 359   316  Lease liabilities 584   554  Accrued expenses and other current liabilities 12,206   6,409  Total current liabilities 15,389   10,430  Debt, non-current 16,522   16,112  Lease liabilities, non-current 4,293   4,591  Embedded Derivative 1,124   1,165  Other liabilities 31   95  Total liabilities 37,359   32,393           Stockholders’ equity (deficit):        Common stock 39   38  Additional paid-in capital 304,050   274,494  Accumulated deficit (154,778)  (103,105) Total stockholders’ equity 149,311   171,427  Total liabilities and stockholders’ equity$186,670  $203,820           Media Contact:Carolyn Hawley, Canale Communications, (619) 849-5382, carolyn@canalecomm.comFor InvestorsJohn Grimaldi, Burns McClellan, (212) 213-0006, jgrimaldi@burnsmc.com

  • Eidos Therapeutics (EIDX) Looks Good: Stock Adds 6.4% in Session
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    Eidos Therapeutics (EIDX) Looks Good: Stock Adds 6.4% in Session

    Eidos Therapeutics (EIDX) saw a big move last session, as its shares jumped more than 6% on the day, amid huge volumes.