Biotech Values

[DewDiligence]

AADI—(-25%/AH)—halts_phase-2_trial_for utility—reduces workforce 80%:

https://www.prnewswire.com/news-releases/aadi-bioscience-provides-precision1-trial-and-corporate-updates-302226818.html

AADI, itself the product of a 2021 reverse-merger (#msg-163841604), is now a candidate for a reverse-merger from the opposite side. AADI had ~$70M of net cash at 6/30/24, but little prospect of becoming a profitable business. AADI’s sole approved drug, Fyarro, did a paltry $6M in 2Q24 sales. The approved indication is rare: advanced malignant perivascular epithelioid sarcoma.