Arog Pharmaceuticals readies IPO

|About: Arog Pharmaceuticals (AROG)|By:, SA News Editor

Dallas, TX-based Arog Pharmaceuticals (AROG) has filed a prospectus for a $75M IPO.

The biopharma firm is developing tyrosine kinase inhibitor crenolanib for the treatment of FLT3-mutated acute myeloid leukemia (AML) and gastrointestinal stromal tumors (GIST).

A Phase 3 study evaluating crenolanib following induction chemo and consolidation therapy in newly diagnosed FLT3+ AML is currently recruiting patients. Its primary completion date is November 2022. A Phase 2 study assessing the combination of crenolanib and chemo in pediatric patients with FLT3+ AML will launch soon. Its expected completion date is December 2020.

A Phase 3 study in GIST is currently recruiting patients. Its completion date is August 2019.

2018 Financials (6 mo.)($M): Operating Expenses: 6.8 (+30.4%); Net Loss: (6.9) (-31.1%); Cash Burn: (3.8) (-57.0%).

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