Adlai Nortye announces positive clinical developments and financial results for first half of 2024

From GlobeNewswire: 2024-08-08 08:30:00

Adlai Nortye Ltd. (NASDAQ: ANL) announced new clinical developments, including the appointment of Dr. Roger Sawhney to its Board. The company shared positive data on AN4005, first-in-class oral PD-L1 inhibitor, and nominated AN8025 as a development candidate. Plans for the second half of 2024 include updates on AN4005 and advancing buparlisib for HNSCC treatment.

Dr. Archie Tse was appointed as Head of Research and Development, bringing expertise in oncology drug development to the team. Dr. Sawhney, with experience in the life sciences industry, joins as a Director. The Company’s pipeline includes ongoing trials for AN2025 and AN4005, with plans to submit AN8025 and AN9025 for investigational drug applications in the future.

Financially, the Company reported cash and cash equivalents of US$98.0 million as of June 30, 2024, with confidence in meeting working capital requirements for the next 12 months. Net cash used in operating activities totaled US$28.4 million for the six months ended June 30, 2024, with a significant decrease in net loss from US$78.6 million in 2023 to US$27.7 million in 2024 due to lower expenses and increased government grants.



Read more at GlobeNewswire:: Adlai Nortye Reports Unaudited First Half 2024 Financial