Reneo's pivotal STRIDE study misses endpoints; company cuts 90% workforce, explores strategic alternatives

OnKure Therapeutics, Inc.

STRIDE trial of mavodelpar in primary mitochondrial myopathy failed primary and secondary efficacy endpoints.
Company suspended all mavodelpar development and reduced workforce by approximately 90%.
Q4 2023 net loss $23.6M ($0.70/share); full-year net loss $77.4M ($2.52/share).
Cash, equivalents, and short-term investments $103.0M at Dec 31, 2023; expects ~$82.0M at March 31, 2024.
Retained independent financial advisor to evaluate strategic alternatives.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

OnKure Therapeutics, Inc. reported the fourth quarter and year ended December 31, 2023 results: net income $23.6 million (fourth quarter) and $77.4 million (full year), EPS $0.70 per share (fourth quarter) and $2.52 per share (full year).

Period: the fourth quarter and year ended December 31, 2023
Net income: $23.6 million (fourth quarter) and $77.4 million (full year)
EPS: $0.70 per share (fourth quarter) and $2.52 per share (full year)
Result: reported results

Exact text from the filing

Reneo Pharmaceuticals Reports Fourth Quarter And Full Year 2023 Financial Results And Business Update IRVINE, Calif., March 28, 2024 (GLOBE NEWSWIRE) -- Reneo Pharmaceuticals, Inc. (Nasdaq: RPHM), a pharmaceutical company historically focused on the development and commercialization of therapies for patients with rare genetic mitochondrial diseases, today reported financial results for the fourth quarter and year ended December 31, 2023 and provided a business update.

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OnKure Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-038003

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