Los Angeles, California – Aadi Bioscience, Inc. held its Q1 2024 Earnings Conference Call with company executives discussing operational updates and financial results. Dr. Dave Lennon, President and CEO, Scott Giacobello, CFO, and Dr. Loretta Itri, Chief Medical Officer, were present on the call. The discussion included forward-looking statements and an overview of the company’s activities for the quarter.

Aadi Bioscience focuses on innovative approaches to mTOR inhibition, combining nab technology with sirolimus to target cancers dependent on the mTOR pathway. The company announced full enrollment in the registration-intended PRECISION1 trial, targeting solid tumors with TSC1 or TSC2 mutations. This trial aims to assess the efficacy of nab-sirolimus in a variety of tumor types with promising early results.

The company also provided updates on Phase II trials targeting endometrial cancer and neuroendocrine tumors. Results from these trials are expected to demonstrate the efficacy of nab-sirolimus in treating these specific cancer types. Additionally, Aadi Bioscience terminated a collaboration agreement with Mirati, focusing on their ongoing trials in promising indications like EEC and NETs.

Financially, Aadi Bioscience reported net product sales for FYARRO, a treatment for malignant PEComa, which showed a decrease in Q1 due to distributor ordering patterns. However, the company remains confident in the steady adoption of FYARRO and expects sales growth in the future. The company also provided updates on research and development expenses, selling, general, and administrative expenses for the quarter, and net loss figures.

The conference call included a question-and-answer session with analysts from various financial institutions. Questions ranged from the impact of clinical trials on commercial sales to the future outlook for the company’s programs. Executives provided insights into the clinical trials, enrollment status, and expectations for upcoming data readouts.

In closing remarks, Dr. Dave Lennon expressed optimism about the progress made by Aadi Bioscience in advancing its clinical development programs. He highlighted the completion of enrollment in the PRECISION1 trial and upcoming milestones expected in the third quarter. The company looks forward to continued growth in its commercial business and further updates on its innovative therapies for cancer treatment.