NASDAQ$APGE
Apogee Therapeutics Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Apogee Therapeutics reported its Q4 and full year 2023 financial results and provided pipeline progress.
Apogee Therapeutics reported a net loss of $31.7 million for the fourth quarter of 2023. The company's cash, cash equivalents, and marketable securities totaled $395.5 million as of December 31, 2023, which is expected to fund operations into 4Q 2026.
- Positive interim results from APG777 Phase 1 healthy volunteer clinical trial exceeded objectives with approximately 75-day half-life.
- APG777 Phase 1 interim data support advancement of a randomized, placebo-controlled Phase 2 clinical trial in patients with moderate-to-severe atopic dermatitis in 1H 2024 ahead of schedule.
- Phase 1 healthy volunteer clinical trial set to start ahead of schedule for APG808, a subcutaneous extended half-life antibody targeting IL-4Rα, following receipt of regulatory clearance in February.
- Total cash of $395.5 million at year end 2023 with expected cash runway into 4Q 2026.
Headline financials
Revenue & EPS history
Apogee · Revenue · Quarterly
$0
Forward guidance
Apogee expects its existing cash, cash equivalents and marketable securities will enable the company to fund its operating expenses into 4Q 2026.
Tailwinds
- APG777 demonstrated a favorable safety profile.
- APG777 exceeded trial objectives on both pharmacokinetics and pharmacodynamics.
- APG777 supports a path forward into a Phase 2 trial for APG777 in patients with AD in the first half of this year.
- APG808 is set to start a Phase 1 healthy volunteer clinical trial ahead of schedule.
- Apogee continues to make progress with APG808 while advancing earlier programs, APG990 and APG222.
Headwinds
- Global macroeconomic conditions and related volatility.
- The unpredictable relationship between preclinical study results and clinical study results.
- Timing or likelihood of regulatory filings and approvals.
- Liquidity and capital resources.
- Risks and uncertainties identified in Apogee’s Quarterly Report on 10-Q for the quarterly period ended September 30, 2023, filed with the SEC on November 13, 2023, and subsequent disclosure documents.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 15 quarterly earnings reports · overlaid with Q4 2023
+5.6%
Avg return
Earnings day
+9.2%
Avg return
5 days after
+10.9%
Avg return
30 days after
53%
8 / 15 earnings
Positive
+59.8%
Q4 2023
Best reaction
-12.7%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | +1.2% | +4.4% | +20.3% | |
| Q3 2025 | +3.8% | +19.7% | +39.0% | |
| Q2 2025 | -2.2% | +5.4% | +5.9% | |
| Q1 2025 | -0.0% | -1.1% | +9.4% | |
| Q4 2024 | -0.2% | +14.9% | +20.3% | |
| Q3 2024 | -12.7% | -21.8% | -26.7% | |
| Q2 2024 | +9.7% | +11.7% | +25.0% | |
| Q1 2023 | +1.5% | -5.5% | -16.7% | |
| Q1 2024 | +1.5% | -5.5% | -16.7% | |
| Q4 2023 | +59.8% | +61.8% | +41.4% | |
| Q3 2023 | +12.8% | +20.6% | +45.9% | |
| Q3 2022 | +12.8% | +20.6% | +45.9% | |
| Q4 2022 | -1.1% | +4.0% | -9.6% | |
| Q2 2022 | -1.1% | +4.0% | -9.6% | |
| Q2 2023 | -1.1% | +4.0% | -9.6% | |
| Q1 2022 | — | — | — |
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