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Astria Therapeutics (ATXS) investor relations material
Astria Therapeutics Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Entered into a license agreement with Kaken Pharmaceutical for navenibart in Japan, including $16M upfront, up to $16M in milestones, and tiered royalties up to 30%.
BioCryst to acquire Astria in Q1 2026 for $8.55/share in cash plus 0.59 BioCryst shares per Astria share; transaction unanimously approved by both boards.
Navenibart's Phase 3 ALPHA-ORBIT trial is progressing, with topline results expected in early 2027; first patient enrolled in the ORBIT-EXPANSE extension trial.
Final Phase 1b/2 ALPHA-STAR results in 29 HAE patients show robust attack prevention and favorable safety profile for navenibart.
STAR-0310, an OX40 antagonist, demonstrated best-in-class profile in initial Phase 1a data.
Financial highlights
Astria receives a $16M upfront payment from Kaken, with additional $16M in potential commercialization and sales milestones.
Tiered royalties on net sales in Japan range from mid-teens to 30%.
Cash, cash equivalents, and short-term investments totaled $227.7M as of September 30, 2025, down from $344.3M a year prior.
Net loss for Q3 2025 was $31.6M, compared to $24.5M in Q3 2024.
Collaboration revenue was $0.7M for Q3 and YTD 2025, from the Kaken license agreement.
Outlook and guidance
The agreement is expected to provide significant non-dilutive funding and extend cash runway into 2028.
Astria anticipates Kaken's support will accelerate navenibart's development and regulatory approval in Japan.
Topline results from the ALPHA-ORBIT Phase 3 trial anticipated in early 2027.
Strategic alternatives being explored for STAR-0310 following positive Phase 1a results.
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