Reneo Pharmaceuticals initiates strategic alternatives review after failed trial; Q1 net loss $8.4M

OnKure Therapeutics, Inc.

STRIDE study of mavodelpar in primary mitochondrial myopathies missed all endpoints in Dec 2023.
Suspended all mavodelpar development; reduced workforce by ~90% in Dec 2023 and Feb 2024.
Retained independent financial advisor to explore strategic alternatives, including possible sale.
Q1 2024 net loss $8.4M ($0.25/share) vs $15.1M ($0.60/share) Q1 2023; cash $82.8M as of Mar 31, 2024.
R&D expenses fell to $4.9M from $11.0M due to program suspension and cost-cutting.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

OnKure Therapeutics, Inc. reported first quarter ended March 31, 2024 results: net income net loss of $8.4 million, or $0.25 per share, EPS $0.25 per share.

Period: first quarter ended March 31, 2024
Net income: net loss of $8.4 million, or $0.25 per share
EPS: $0.25 per share
Result: reported results

Exact text from the filing

We reported a net loss of $8.4 million, or $0.25 per share, during the first quarter of 2024, compared to a net loss of $15.1 million, or $0.60 per share, for the same period in 2023.

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OnKure Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-054442

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