8-K
CHIASMA, INC filed this Form 8-K on 08/09/2018
Entire Document
 


 

which completed enrollment into the six-month run-in phase in July 2018 and were partially offset by reduced personnel costs associated with the transition of the Company’s former Chief Development Officer from a full-time employee to member of the board of directors of both Chiasma and its Israeli subsidiary.

 

   

Net Loss: For the quarter ended June 30, 2018, net loss was ($8.7) million, or ($0.36) per basic share, compared with ($6.9) million, or ($0.28) per basic share, in the same period of 2017.

 

   

Cash Position: Cash, cash equivalents and marketable securities as of June 30, 2018 were $54.6 million, compared with $66.9 million as of December 31, 2017, primarily reflecting the Company’s operating expenditures for the first six months of 2018. The Company continues to expect to have a cash and investment balance of at least $35.0 million at the end of 2018 and its existing cash, cash equivalents and marketable securities to fund operations through the anticipated release of top-line CHIASMA OPTIMAL data in Q4 2019 while supporting its MPOWERED trial in parallel.

About Chiasma

Chiasma is focused on improving the lives of patients who face challenges associated with their existing treatments for rare and serious chronic diseases. Employing its Transient Permeability Enhancer (TPE®) technology platform, Chiasma seeks to develop oral medications that are currently available only as injections. In September 2017, the Company initiated CHIASMA OPTIMAL, its third Phase 3 clinical trial for its octreotide capsules product candidate, conditionally trade-named MYCAPSSA®, for the maintenance therapy of adult patients with acromegaly in whom prior treatment with somatostatin analogs has been shown to be effective and tolerated following agreement with the FDA on the design of the trial through a special protocol assessment. Chiasma is headquartered in Waltham, MA with a wholly owned subsidiary in Israel. MYCAPSSA, TPE and CHIASMA are registered trademarks of Chiasma. For more information, please visit the Company’s website at www.chiasma.com.

Forward-Looking Statements

This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the Company’s development of octreotide capsules, conditionally named MYCAPSSA, for the treatment of acromegaly, the Company’s efforts to potentially obtain regulatory approval in the United States by conducting the Phase 3 CHIASMA OPTIMAL clinical trial under a Special Protocol Assessment, the Company’s efforts to potentially obtain regulatory approval in the European Union by conducting the ongoing