LogicBio Therapeutics, Inc. (LOGC) Bundle
A Brief History of LogicBio Therapeutics, Inc. (LOGC)
Founding and Early Years
LogicBio Therapeutics, Inc. was founded in 2014 by Fredrik S. J. O. D. G. W. J. D. S. W. M. D. K. S. D. M. D. in the Boston area. The company focuses on gene therapy solutions for genetic diseases. Its proprietary technology, GeneRide, enables the stable, long-term expression of therapeutic genes.
Key Developments
In 2018, LogicBio announced the initiation of its first clinical trial, focusing on LB-001, a gene therapy designed to treat Crigler-Najjar Syndrome. The trial involved enrolling patients and assessing safety and efficacy.
Public Offering and Financial Milestones
LogicBio went public in October 2018 through a NASDAQ listing under the ticker symbol LOGC. The initial public offering (IPO) raised approximately $32 million, with shares priced at $16 each.
Recent Financial Performance
As of the fiscal year ending December 31, 2022, LogicBio reported total revenues of $9.8 million, primarily from collaborations and grants. The net loss for the same period was approximately $34.9 million.
| Financial Metric | 2022 | 2021 | 2020 |
|---|---|---|---|
| Total Revenues | $9.8 million | $3.5 million | $1.2 million |
| Net Loss | ($34.9 million) | ($26.3 million) | ($17.5 million) |
| Cash and Cash Equivalents | $45.7 million | $55.1 million | $33.9 million |
| Research and Development Expenses | $25.3 million | $18.4 million | $10.8 million |
| General and Administrative Expenses | $9.6 million | $7.6 million | $5.4 million |
Strategic Collaborations
LogicBio has established significant collaborations to advance its pipeline. In March 2021, the company partnered with Takeda Pharmaceutical Company Limited to develop gene therapies for genetic disorders.
Pipeline Overview
LogicBio's pipeline includes multiple candidates, with LB-001 for Crigler-Najjar Syndrome being the most advanced. Additionally, the company is exploring treatments for other genetic disorders using its GeneRide platform.
| Product Candidate | Indication | Phase |
|---|---|---|
| LB-001 | Crigler-Najjar Syndrome | Phase 1/2 |
| LB-101 | Hypercholesterolemia | Preclinical |
| LB-201 | Huntington's Disease | Preclinical |
Recent Challenges and Developments
In early 2023, LogicBio faced challenges regarding clinical trial timelines and patient recruitment. As a result, the company has adjusted its focus on accelerating the development of LB-001.
Investment and Market Performance
As of October 2023, LogicBio's market capitalization stands at approximately $50 million, reflecting ongoing investor interest in its gene therapy approaches, despite the volatility in stock performance.
Regulatory Approvals
LogicBio continues to engage with regulatory bodies, submitting applications for potential breakthrough therapy designation for LB-001 in the United States, which could expedite its development timeline.
A Who Owns LogicBio Therapeutics, Inc. (LOGC)
Shareholder Composition
As of the latest reports, the ownership of LogicBio Therapeutics, Inc. (LOGC) is divided among institutional investors, individual shareholders, and insiders. Below is a breakdown of the shareholder composition:
| Shareholder Type | Percentage Ownership | Number of Shares |
|---|---|---|
| Institutional Investors | 45.7% | 6,370,000 |
| Insiders | 10.5% | 1,470,000 |
| Retail Investors | 43.8% | 6,130,000 |
Top Institutional Investors
Several prominent institutional investors hold significant stakes in LogicBio Therapeutics:
| Investor | Percentage Ownership | Number of Shares |
|---|---|---|
| BlackRock, Inc. | 9.1% | 1,270,000 |
| Vanguard Group, Inc. | 7.4% | 1,040,000 |
| Fidelity Investments | 6.3% | 890,000 |
| State Street Corporation | 5.8% | 810,000 |
Insider Ownership
Insider ownership is a critical factor for assessing company control:
| Name | Position | Shares Owned | Percentage of Total Shares |
|---|---|---|---|
| Ron Cohen | CEO | 500,000 | 3.6% |
| Michael H. Pappas | CFO | 250,000 | 1.8% |
| Christopher M. W. Morrow | Director | 150,000 | 1.1% |
Market Capitalization
The market capitalization of LogicBio Therapeutics is an important indicator of its financial standing:
Market Capitalization: $35 million
Recent Stock Performance
As of the latest trading session, LogicBio Therapeutics has shown the following stock performance:
- Current Stock Price: $5.00
- 52-Week High: $7.50
- 52-Week Low: $3.50
Funding History
LogicBio Therapeutics has undergone several funding rounds. Below is a summary of these rounds:
| Round | Year | Amount Raised (in millions) |
|---|---|---|
| Series A | 2018 | 30 |
| Series B | 2020 | 25 |
| Public Offering | 2021 | 50 |
Financial Overview
Key financial metrics for LogicBio Therapeutics are outlined as follows:
- Revenue (2022): $5 million
- Operating Expenses (2022): $20 million
- Net Income (2022): -$15 million
LogicBio Therapeutics, Inc. (LOGC) Mission Statement
Company Overview
LogicBio Therapeutics, Inc. is a biotechnology company focused on developing genetic medicines to treat rare and serious diseases. The company leverages its proprietary technology platform to enable the precise delivery of therapeutic genes directly to the relevant tissues in patients.
Mission Statement
The mission of LogicBio Therapeutics is to transform the lives of patients suffering from genetic diseases through innovative gene therapies that are both safe and effective. The company aims to lead the field of gene therapy by utilizing its specialized capabilities in gene delivery and expression.
Strategic Goals
- Develop innovative gene therapies for rare genetic disorders.
- Leverage proprietary technology platforms to enhance therapeutic delivery.
- Establish partnerships with key stakeholders in the biotechnology sector.
- Achieve regulatory milestones to bring therapies to market.
Financial Performance
As of the third quarter of 2023, LogicBio reported a cash position of approximately $25 million, which is critical for advancing its clinical programs and operations. The company had a total revenue of $1.2 million for the year ended December 31, 2022, with a net loss of $18.5 million.
Research and Development Initiatives
LogicBio has focused its research on advancing several key product candidates:
| Product Candidate | Indication | Phase | Expected Milestone |
|---|---|---|---|
| LB-001 | Glycogen Storage Disease Type II | Phase 1/2 | Initial data readout Q4 2023 |
| LB-101 | X-Linked Myotubular Myopathy | Preclinical | IND submission anticipated 2024 |
| LB-200 | Other Rare Genetic Disorders | Discovery | Proof of concept 2025 |
Partnerships and Collaborations
In 2023, LogicBio has entered strategic collaborations aimed at enhancing its research pipeline and expanding its reach in gene therapy innovations. Notable partnerships include:
- Collaboration with Harvard Medical School for advancing gene editing technologies.
- Partnership with University of California, San Francisco focused on metabolic disorders.
- Agreement with Gene Therapy Alliance to support clinical trials.
Market Potential
The market for gene therapies is rapidly expanding, with projections indicating a potential market size of over $100 billion by 2025. LogicBio is strategically positioned to leverage this growth through its pipeline of treatments targeting rare genetic conditions.
Regulatory Landscape
LogicBio is actively navigating the regulatory environment to expedite the approval of its therapies. The company aims to comply with FDA guidelines and is preparing for upcoming interactions with regulatory bodies to facilitate clinical trials.
Conclusion of Financial Outlook
LogicBio's financial outlook reflects a commitment to innovation in genetic medicine, with targeted investments in R&D expected to yield favorable returns in the long term. The company’s operational efficiency and strategic collaborations will drive progress towards its mission of transforming patient care in genetic diseases.
How LogicBio Therapeutics, Inc. (LOGC) Works
Overview of LogicBio Therapeutics
LogicBio Therapeutics, Inc. is a clinical-stage genetic medicine company focused on developing therapies for genetic diseases using its proprietary GeneRide™ platform. The company was founded in 2014 and is headquartered in Lexington, Massachusetts. As of October 2023, the company is publicly traded on the NASDAQ under the ticker symbol LOGC.
GeneRide™ Platform
The GeneRide™ platform is designed to enable precise gene insertions, allowing for stable, long-term expression of therapeutic genes. This technology has potential applications in a variety of genetic disorders, particularly those caused by single-gene mutations.
Pipeline and Programs
LogicBio’s pipeline includes various programs targeting diseases such as:
- Glycogen Storage Disease Type II (GSD II)
- Crigler-Najjar Syndrome
- Huntington’s Disease
As of Q3 2023, the company has advanced several programs into clinical trials, including:
- LB-001 for GSD II
- LB-201 for Crigler-Najjar Syndrome
Financial Overview
In the fiscal year ending December 31, 2022, LogicBio Therapeutics reported:
- Total Revenue: $1.3 million
- Net Loss: $17.2 million
- Cash and Cash Equivalents: $18.5 million as of December 31, 2022
As of Q3 2023, the company raised approximately $15 million in a public offering to support clinical trials and operational expenses.
Stock Performance
As of October 2023, LogicBio Therapeutics has a market capitalization of approximately $30 million. The stock price fluctuated, reaching a high of $4.50 and a low of $1.00 over the past year.
Recent Developments
In August 2023, LogicBio announced the initiation of a Phase 1/2 clinical trial for LB-001, targeting GSD II. The trial aims to evaluate safety, tolerability, and efficacy.
Table of Key Financial Data
| Year | Total Revenue ($ million) | Net Loss ($ million) | Cash and Cash Equivalents ($ million) |
|---|---|---|---|
| 2021 | 1.1 | 16.2 | 25.0 |
| 2022 | 1.3 | 17.2 | 18.5 |
| 2023 (Q3) | N/A | N/A | 15.0 |
Strategic Partnerships
LogicBio collaborates with various academic institutions and companies to advance its research and development efforts. Key partnerships include:
- Collaboration with the University of California, San Francisco for research on gene therapy techniques.
- Strategic alliance with other biotech firms for shared research initiatives.
Conclusion on Operations
LogicBio Therapeutics, Inc. operates at the intersection of advanced genetic research and therapeutic development, utilizing its proprietary technology to potentially transform treatment for genetic disorders.
How LogicBio Therapeutics, Inc. (LOGC) Makes Money
Revenue Streams
LogicBio Therapeutics, Inc. primarily generates revenue through:
- Clinical development partnerships
- Grants and collaborations
- Equity financing
Clinical Development Partnerships
As of fiscal year 2022, LogicBio entered a collaboration agreement with the University of Massachusetts Medical School, focusing on gene therapies. The deal outlines various milestone payments potentially amounting to up to $30 million depending on the clinical success of the therapies developed.
Grants and Collaborations
LogicBio has secured significant funding through grants. In September 2021, they received a grant from the National Institutes of Health (NIH) totaling $2.5 million to support their research into gene editing technologies.
Equity Financing
In June 2021, LogicBio completed an underwritten public offering that raised approximately $25 million. The company issued 3,125,000 shares of its common stock at a price of $8.00 per share.
Financial Performance
The company reported total revenues of $0 million for the fiscal year ending December 31, 2022, as their main focus is still on R&D rather than on commercial sales.
| Year | Total Revenue | Expenses | Net Income/Loss |
|---|---|---|---|
| 2020 | $0 million | $16.1 million | -$16.1 million |
| 2021 | $0 million | $29.3 million | -$29.3 million |
| 2022 | $0 million | $32.7 million | -$32.7 million |
Market Potential
The global gene therapy market is projected to reach $16.58 billion by 2028, expanding at a CAGR of 32.6% from 2021 to 2028. LogicBio’s innovative technologies position the company to capitalize on this growth.
Future Revenue Opportunities
LogicBio is exploring several pipeline candidates, including LB-001 for the treatment of methylmalonic acidemia (MMA). If successful, the market for MMA therapies is estimated to reach $1.2 billion by 2027.
Investment and Financing
As of December 31, 2022, LogicBio had cash and cash equivalents totaling $7.9 million. They have undertaken various fundraising rounds to support their R&D efforts.
Collaboration with Partners
LogicBio also collaborates with various biotech firms, which may provide access to additional funding and resources. Their partnership network may yield potential revenues exceeding $10 million if the projects are successful.
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