Actinogen Medical Limited ( (ATGGF) ) has released its Q2 earnings. Here is a breakdown of the information Actinogen Medical Limited presented to its investors.
Actinogen Medical Limited is a biotechnology company focused on the clinical development of Xanamem, an oral medication targeting neurological diseases by controlling cortisol levels in the brain. In its latest earnings report, Actinogen highlighted significant progress in its clinical trials, particularly in Alzheimer’s disease and major depressive disorder, alongside a strong financial position bolstered by a $9 million R&D tax rebate. The company is advancing its XanaMIA phase 2b/3 trial for Alzheimer’s, with 25 sites actively screening participants, and has completed the XanaCIDD phase 2a trial for depression, showing promising results in reducing symptoms. Financially, Actinogen reported a net loss of $8.17 million for the half-year ending December 2024, an improvement from the previous year’s loss, with a strong cash position of $22.9 million. Looking ahead, Actinogen is preparing for the commercialization of Xanamem and continues to engage with potential partners and regulators to secure pathways for future development and market entry.