Apogee reports positive Phase 1 data for APG777 with ~75-day half-life; FY2023 net loss $84M

Apogee Therapeutics, Inc.

APG777 Phase 1 interim data: half-life ~75 days, deep pSTAT6 and TARC suppression for ~3 months, well tolerated.
Phase 2 in moderate-to-severe AD planned for 1H 2024; induction designed to exceed lebrikizumab exposures by 30-40%.
Cash $395.5M at Dec 31, 2023; expected runway into Q4 2026.
FY 2023 net loss $84.0M vs $39.8M from inception (Feb 2022) to Dec 2022; R&D expenses $68.4M.
APG808 (anti-IL-4Rα) Phase 1 trial starting ahead of schedule; Phase 2 in COPD expected 2025.

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