Neoleukin Therapeutics, Inc. (NLTX) Bundle
A Brief History of Neoleukin Therapeutics, Inc. (NLTX)
Foundation and Early Development
Neoleukin Therapeutics, Inc. was founded in 2018 by Dr. Jonathan D. Glass and Dr. David K. Flavell. The company is based in Seattle, Washington, and focuses on developing protein-based therapeutics for the treatment of cancer and autoimmune diseases.
Initial Public Offering (IPO)
In November 2019, Neoleukin completed its initial public offering (IPO), raising approximately $100 million. The IPO was priced at $15 per share, and the company traded on the NASDAQ under the ticker symbol NLTX.
Research and Development Programs
Neoleukin has developed a proprietary protein design platform. Its lead candidate, NL-201, is designed to target the immune system to treat various cancers. In 2021, the company reported that NL-201 had entered Phase 1 clinical trials.
| Year | Event | Details |
|---|---|---|
| 2018 | Company Founded | Founded by Dr. Jonathan D. Glass and Dr. David K. Flavell |
| 2019 | IPO | Raised approximately $100 million at $15 per share |
| 2021 | Clinical Trials Start | NL-201 entered Phase 1 clinical trials |
Financial Performance
As of the end of Q2 2023, Neoleukin reported cash and cash equivalents of approximately $67.4 million. For the same quarter, the company's total revenue was $1.2 million, while it reported a net loss of $11.5 million.
Collaborations and Partnerships
Neoleukin Therapeutics has entered into several collaborations to further its research. Notably, in 2020, the company announced a partnership with Amgen to develop novel therapies based on its protein engineering platform. Financial terms of the agreement were not disclosed.
Market Presence and Stock Performance
As of October 13, 2023, Neoleukin's stock price was approximately $5.25, reflecting a market capitalization of about $150 million. The company’s stock has experienced notable volatility, with a 52-week range of $3.20 - $9.50.
| Date | Stock Price | Market Capitalization |
|---|---|---|
| October 13, 2023 | $5.25 | $150 million |
| 52-week High | $9.50 | |
| 52-week Low | $3.20 |
Future Outlook
Looking ahead, Neoleukin anticipates progressing its clinical trials and expanding its portfolio of therapeutic candidates. The company aims to leverage its proprietary technology platform to introduce new treatments that can significantly impact the medical landscape.
A Who Owns Neoleukin Therapeutics, Inc. (NLTX)
Shareholder Ownership
As of the latest annual report, the ownership structure of Neoleukin Therapeutics, Inc. (NLTX) is as follows:
| Shareholder Type | Ownership Percentage | Number of Shares Owned |
|---|---|---|
| Institutional Investors | 45.3% | 9,345,670 |
| Insider Ownership | 10.5% | 2,157,890 |
| Retail Investors | 44.2% | 9,090,340 |
Top Institutional Shareholders
The following table lists the top institutional shareholders of Neoleukin Therapeutics, Inc.:
| Institution | Shares Owned | Ownership Percentage |
|---|---|---|
| Vanguard Group Inc. | 3,567,890 | 17.5% |
| BlackRock Inc. | 2,980,450 | 14.4% |
| SSgA Funds Management, Inc. | 1,678,900 | 8.1% |
| FMR LLC (Fidelity) | 1,250,000 | 6.1% |
| Invesco Ltd. | 1,120,000 | 5.4% |
Executive Team Ownership
The executive team of Neoleukin Therapeutics also holds a stake in the company:
| Executive | Position | Shares Owned |
|---|---|---|
| Jonathan D. Tracy | CEO | 1,100,000 |
| Elizabeth M. Kauffman | CFO | 500,000 |
| Mark J. Murphy | CSO | 300,000 |
| Sarah M. J. Hall | COO | 500,000 |
Recent Financial Performance
For the fiscal year ending December 31, 2022, Neoleukin Therapeutics reported the following financial data:
| Financial Metric | Amount (USD) |
|---|---|
| Total Revenue | $1.5 million |
| Net Loss | $(10.2 million) |
| Total Assets | $50 million |
| Total Liabilities | $15 million |
| Cash and Cash Equivalents | $30 million |
Recent Stock Performance
As of October 2023, Neoleukin Therapeutics’ stock performance is highlighted below:
| Metric | Value |
|---|---|
| Current Stock Price | $2.75 |
| 52-Week High | $5.20 |
| 52-Week Low | $1.80 |
| Market Capitalization | $120 million |
| Average Volume | 150,000 shares |
Recent Developments
In September 2023, Neoleukin Therapeutics announced a collaboration with a leading pharmaceutical company to develop IL-2-based therapies, signaling potential future growth opportunities.
Neoleukin Therapeutics, Inc. (NLTX) Mission Statement
Overview of Neoleukin Therapeutics
Neoleukin Therapeutics, Inc. (NLTX) is a biotechnology company that focuses on the development of de novo protein therapeutics for the treatment of cancer and autoimmune diseases. The company utilizes its proprietary Neoleukin platform to design and optimize new protein structures aimed at enhancing therapeutic efficacy.
Core Mission Statement
The mission of Neoleukin Therapeutics is to revolutionize the treatment landscape for patients suffering from cancer and autoimmune disorders through innovative protein-based therapies. The company's commitment is anchored in leveraging cutting-edge technology to deliver safer and more effective treatments.
Strategic Goals
- Develop novel therapeutic candidates targeting cancer and autoimmune diseases.
- Maximize patient accessibility to new treatments by optimizing product development.
- Collaborate with leading research institutions and healthcare providers.
Market Position and Financials
| Year | Revenue (in millions) | Net Loss (in millions) | R&D Expenses (in millions) | Cash and Cash Equivalents (in millions) |
|---|---|---|---|---|
| 2020 | 0.0 | (20.5) | (17.0) | 40.0 |
| 2021 | 0.0 | (23.7) | (24.5) | 33.2 |
| 2022 | 0.0 | (30.1) | (29.8) | 25.0 |
| 2023 | 0.0 | (15.0, estimated) | (12.0, estimated) | 20.0 (estimated) |
Innovation and Research Focus
Neoleukin is dedicated to advancing its innovative platform to develop therapeutic proteins with distinct advantages over traditional therapies. Research focuses on:
- Targeting immune modulatory pathways.
- Development of tailor-made protein analogs.
- Utilizing computational design for therapeutic efficacy.
Values and Ethical Commitment
Neoleukin is committed to ethical standards in research and development. The core values include:
- Integrity in scientific discovery.
- Compassion for patient-centered care.
- Responsibility towards environmental sustainability.
Collaboration and Partnerships
Neoleukin actively seeks partnerships with academia and industry to enhance its research capabilities. Significant collaborations include:
- Partnerships with leading cancer research organizations.
- Collaborations for technology transfer and shared research initiatives.
Future Outlook
The company aims to advance its lead candidates into clinical trials by leveraging its financial resources and partnerships. With a growing pipeline, Neoleukin Therapeutics strives to meet its objective of delivering groundbreaking therapies to patients worldwide.
How Neoleukin Therapeutics, Inc. (NLTX) Works
Overview of Neoleukin Therapeutics, Inc.
Overview of Neoleukin Therapeutics, Inc.
Neoleukin Therapeutics, Inc. (NASDAQ: NLTX) is a biopharmaceutical company focused on developing a new class of immunotherapies that target cancer and autoimmune diseases. The company's innovative approach leverages computational biology to create de novo neoantigen therapeutics.
Business Model
The business model of Neoleukin Therapeutics revolves around the research and development of protein-based therapeutics, specifically engineered cytokines that aim to mimic the effects of natural cytokines. The goal is to harness the immune system to fight diseases more effectively.
Financial Performance
As of the end of Q3 2023, Neoleukin Therapeutics reported the following financial numbers:
| Metric | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|
| Revenue | $0.0 million | $0.0 million | $0.0 million |
| Research and Development Expenses | $6.2 million | $5.8 million | $6.5 million |
| General and Administrative Expenses | $2.5 million | $2.6 million | $2.4 million |
| Net Loss | $(8.7 million) | $(8.4 million) | $(8.9 million) |
| Cash and Cash Equivalents | $35.1 million | $40.2 million | $45.5 million |
Research and Development Pipeline
Neoleukin’s pipeline includes the following key product candidates:
| Product Candidate | Indication | Development Stage | Estimated Pivotal Study Start Date |
|---|---|---|---|
| NL-201 | Hematological Malignancies | Phase 1 | Q4 2023 |
| NL-101 | Solid Tumors | Preclinical | N/A |
| NL-103 | Autoimmune Diseases | Phase 1 | Q1 2024 |
Collaboration and Partnerships
Neoleukin Therapeutics has established collaborations to enhance its R&D capabilities:
- Collaboration with the University of Washington for research on novel protein structures.
- Partnership with major pharmaceutical companies for joint development initiatives.
Market Position and Competitive Landscape
As of October 2023, Neoleukin holds a promising position in the biopharmaceutical industry:
- Market Capitalization: Approximately $150 million.
- Competing with companies such as Moderna and BioNTech in the immunotherapy field.
- Focus on precision medicine through engineered cytokines distinguishes it from traditional approaches.
Recent Developments
Recent milestones include:
- Completion of the Phase 1 trial for NL-201 in Q3 2023.
- Presentation of preliminary data at the American Association for Cancer Research (AACR) Annual Meeting 2023.
How Neoleukin Therapeutics, Inc. (NLTX) Makes Money
Revenue Streams
Neoleukin Therapeutics, Inc. focuses on generating revenue through multiple channels, primarily through the development and commercialization of novel immunotherapies. Their primary revenue sources include:
- Partnerships and collaborations
- Grants and funding
- Royalties from licensed technologies
- Potential future product sales
Current Financial Position
As of June 30, 2023, Neoleukin reported a total cash and cash equivalents balance of approximately $47.3 million. This figure represents a significant resource for sustaining ongoing research and development efforts.
Partnerships and Collaborations
Neoleukin Therapeutics has entered into strategic partnerships that enhance their financial viability. For instance, in 2021, they formed a collaboration with Merck, which included an upfront payment of $10 million and potential milestone payments exceeding $300 million depending on clinical development progress.
Research and Development Expenditures
Neoleukin is heavily invested in research and development (R&D), reported at $20.4 million for the six months ended June 30, 2023. This expenditure underpins their commitment to advancing their drug pipeline.
Licenses and Royalties
Revenue is also generated through licensing agreements. For example, Neoleukin has licensed its technology platform to third parties, which may generate royalties based on future sales. As of the latest financial report, potential royalties are estimated to be in the range of 2% to 5% of related product sales.
Grant Funding
In fiscal year 2022, Neoleukin received grant funding amounting to $3.5 million from government agencies to support its research initiatives. This funding assists in offsetting operational costs associated with drug development.
Projected Milestones
Neoleukin is expected to achieve several clinical milestones that could lead to additional revenue. Each milestone could yield payments, with estimates ranging from $5 million to $25 million per milestone upon successful clinical trial completion or regulatory approvals.
Financial Summary Table
| Financial Metric | Amount (USD) |
|---|---|
| Cash and Cash Equivalents (June 30, 2023) | $47.3 million |
| Partnership Payment (Merck Collaboration) | $10 million |
| Potential Milestone Payments (Merck) | >$300 million |
| R&D Expenditures (6 months ended June 30, 2023) | $20.4 million |
| Grant Funding (Fiscal 2022) | $3.5 million |
| Projected Milestone Payment Range | $5 million - $25 million |
| Potential Royalty Percentage | 2% - 5% |
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