Half Year 2024 Herantis Pharma Oyj Earnings Call Transcript
Key Points
- HER-096 has demonstrated brain penetration and a good safety profile in Phase 1a clinical study.
- The company has secured significant non-dilutive research funding, including EUR6.1 million from charities and the European Innovation Council.
- Herantis Pharma PLC (OHEL:HRTIS) has a strong team and advisory board with senior industry experts.
- The company received a milestone payment of EUR750,000 from the EIC accelerator grant.
- HER-096 shows potential not only for Parkinson's disease but also for other neurodegenerative diseases.
- The company reported a loss of EUR2.6 million for the first half of the year.
- Operating expenses have increased due to heightened activities, including preparations for Phase 1b and Phase 2 trials.
- The company will need to raise additional funds to start Phase 2 clinical trials.
- The research funding of EUR3.6 million is not yet fully in the bank and will be paid in installments upon reaching certain milestones.
- The Phase 1b clinical study is not designed to provide efficacy data, which may delay concrete proof of HER-096's effectiveness.
Good morning. My name is Antti Vuolanto, I'm the CEO of Herantis Pharma and welcome to the first half report webinar for Herantis Pharma. So first, the necessary forward-looking statements. And let's go then into the company update, followed by the first half report highlights.
So Herantis Pharma, we are a clinical-stage public company and we develop disease-modifying therapies for Parkinsonâs disease and other neurodegenerative diseases. And our lead asset is HER-096 that is a peptide that mimics a CDNF protein and seed enough protein has been earlier shown to break the cycle of Parkinson's disease pathogenesis.
And we have last year completed the Phase 1a clinical study with HER-096 demonstrating brain penetration and good safety profile after subcutaneous administration. What is very specific for Herantis and HER-096 is that we actually have signs of efficacy already in clinical settings with the mother molecule as we call it, the CDNF in Phase 1 clinical study with fairly advanced Parkinson's patients.
And this
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