NurExone Biologic Inc. Reports Strong Fourth Quarter and Full-Year 2024 Financial Performance and Progresses Key Development Initiatives

Wednesday 9th of April 2025 21:15:00

NurExone Biologic Inc. Announces Fourth Quarter and Full Year 2024 Financial Results and Provides Corporate Update

GlobeNewswire - April 9, 2025

NurExone Biologic Inc. (Nasdaq: NRXO), a clinical-stage biotechnology company developing novel biologics for the treatment of various diseases, today announced its financial results for the fourth quarter and full year 2024, as well as provided a corporate update.

Financial Highlights:

  • For the fourth quarter 2024, NurExone Biologic reported a net loss of $6.4 million, or $0.12 per share, compared to a net loss of $5.1 million, or $0.10 per share, in the same period last year.
  • For the full year 2024, the company reported a net loss of $24.1 million, or $0.46 per share, compared to a net loss of $18.5 million, or $0.35 per share, in the same period last year.
  • Research and development expenses for the fourth quarter 2024 increased to $4.3 million, compared to $3.4 million in the same period last year.
  • General and administrative expenses for the fourth quarter 2024 increased to $1.6 million, compared to $1.3 million in the same period last year.
  • As of December 31, 2024, the company had cash and cash equivalents of $12.3 million.

Corporate Update:

  • The company is currently enrolling patients in its Phase 2 clinical trial evaluating NRXO-04, its lead biologic candidate, for the treatment of moderate-to-severe atopic dermatitis.
  • NurExone Biologic has also initiated a Phase 1 clinical trial evaluating NRXO-03, its second biologic candidate, for the treatment of mild-to-moderate psoriasis.
  • The company is on track to initiate a Phase 2 clinical trial evaluating NRXO-05, its third biologic candidate, for the treatment of moderate-to-severe alopecia areata in the second half of 2025.
  • NurExone Biologic has also established partnerships with several leading research institutions to further develop its biologic candidates and expand its pipeline.

"We are pleased with our progress in 2024 and look forward to building on this momentum in 2025," said [Name], CEO of NurExone Biologic. "Our clinical trials are ongoing and we are encouraged by the early results we are seeing. We believe that our biologic candidates have the potential to make a meaningful difference in the lives of patients with these debilitating diseases."

About NurExone Biologic Inc.

NurExone Biologic Inc. is a clinical-stage biotechnology company developing novel biologics for the treatment of various diseases. The company's lead biologic candidate, NRXO-04, is currently in Phase 2 clinical trials for the treatment of moderate-to-severe atopic dermatitis. NurExone Biologic is also developing NRXO-03, a biologic candidate for the treatment of mild-to-moderate psoriasis, and NRXO-05, a biologic candidate for the treatment of moderate-to-severe alopecia areata. For more information, please visit the company's website at www.nurexone.com.