Astria Therapeutics Reports Fourth Quarter and Full Year 2023 Financial Results and Provides a Corporate Update

Corporate Overview - Astria Therapeutics, Inc. is focused on developing therapies for allergic and immunological diseases, with lead programs STAR-0215 for hereditary angioedema (HAE) and STAR-0310 for atopic dermatitis (AD) [10] Financial Results - As of December 31, 2023, the company had cash, cash equivalents, and short-term investments totaling $246.5 million, an increase from$188.8 million as of September 30, 2023 [6] - Net cash used in operating activities for Q4 2023 was $30.2 million, compared to$10.7 million for Q4 2022, while the full year 2023 net cash used was $68.4 million, up from$43.5 million in 2022 [7][9] - Research and development expenses for Q4 2023 were $11.7 million, compared to$9.6 million in Q4 2022, and for the full year 2023, they were $42.1 million, up from$34.3 million in 2022 [8] - General and administrative expenses for Q4 2023 were $7.3 million, compared to$4.7 million in Q4 2022, with full year expenses of $25.7 million versus$19.2 million in 2022 [8] - The operating loss for Q4 2023 was $34.2 million, compared to$14.3 million in Q4 2022, and the full year loss was $83.0 million, up from$53.5 million in 2022 [9] Product Development Updates - The ALPHA-STAR Phase 1b/2 trial for STAR-0215 is on track, with initial proof-of-concept results expected in Q1 2024, assessing safety, tolerability, and efficacy in HAE patients [3] - STAR-0310 is in preclinical development, with an IND submission expected by year-end 2024 and a Phase 1a trial planned to start in Q1 2025 [4] Recent Financing - In February 2024, Astria closed an underwritten offering of 10,340,000 shares of common stock, raising approximately $125.0 million before expenses [5]