Accueil Ernstrade Bourse Actualite Stock



Aevi Genomic Medicine, Inc. is dedicated to unlocking the potential of genomic medicine to translate genetic discoveries into novel therapies. Driven by a commitment to patients with pediatric onset life-altering diseases, the company's research and development efforts leverages an internal genomics platform and an ongoing collaboration with the Center for Applied Genomics (CAG) at The Children's Hospital of Philadelphia (CHOP).

Aevi Genomic Medicine Reports Third Quarter 2017 Financial Results
PHILADELPHIA, Nov. 2, 2017 /PRNewswire/ -- Aevi Genomic Medicine, Inc. (NASDAQ: GNMX) (the Company) announced today financial and operational results for the quarter ended September 30, 2017 and provided a corporate update.

Third Quarter and Recent Corporate Highlights

Initiated screening and recruitment for a Phase 2 clinical trial in contactin-4 mutation-positive Attention Deficit Hyperactivity Disorder ("CNTN4+ ADHD") (Part A) to confirm genetic responders to AEVI-001. Data from the trial is expected by mid-2018.
Initiated work on CNTN4 in Autism Spectrum Disorder (ASD) to better define the patient phenotype and design a proof-of-concept study to begin in H1 2018.
Continued recruitment for a Phase 1b proof-of-concept study of AEVI-002 in Severe Pediatric Onset Crohn's Disease. Initial data from the trial is anticipated by mid-2018.
Completed the previously announced private placement of 22.2 million shares of common stock with warrants to purchase approximately 4.0 million additional shares of common stock, for aggregate proceeds of $28.0 million, before expenses (the "PIPE"). The Children's Hospital of Philadelphia Foundation (the "CHOP Foundation") was the lead investor, with additional participation by other blue-chip investors. The CHOP Foundation has committed to provide up to an additional $5.0 million of equity financing through June 30, 2018, subject to certain terms and conditions.
Current cash resources, including proceeds from the PIPE transaction, are estimated to fund operations into early 2019, including through the receipt of top-line data from AEVI-001 in CNTN4+ ADHD Part A and initial data from the proof-of-concept trial of AEVI-002 in Severe Pediatric Onset Crohn's Disease.

Copyright  2017