Aadi Bioscience, Inc. ( (AADI) ) has released its Q3 earnings. Here is a breakdown of the information Aadi Bioscience, Inc. presented to its investors.
Aadi Bioscience, Inc. is a precision oncology company focused on developing and commercializing targeted therapies, primarily known for its product FYARRO®, which treats advanced malignant PEComa.
In its latest earnings report for the third quarter of 2024, Aadi Bioscience, Inc. reported significant growth in sales of FYARRO, alongside a strategic review aimed at optimizing shareholder value. The company continues to focus on expanding its market reach and clinical trials.
Key highlights from the report include FYARRO’s net product sales reaching $7.2 million, marking a 21% increase year-over-year. The company is actively winding down its PRECISION1 trial and progressing with other Phase 2 trials. Financially, Aadi ended the quarter with $62.6 million in cash and equivalents, which is expected to support operations into the second half of 2026. Despite a net loss of $12.5 million, the results show a reduction in operating expenses from the previous year.
Looking ahead, Aadi Bioscience is focused on leveraging its strategic review to enhance shareholder value. The company remains committed to advancing its clinical programs and optimizing its financial standing to support long-term growth and innovation in the oncology sector.
