Fri, Jun 21, 11:31 AM (393 days ago)
Acasti Pharma Inc. presented its annual report for the fiscal year ending March 31, 2024. The company focuses on developing and commercializing products for rare and orphan diseases using novel drug delivery technologies. Key financial highlights include a cash balance of $23.0 million, down from $27.9 million the previous year, with sufficient funds expected to support operations into Q2 2026. Acasti is heavily reliant on its lead drug candidate, GTX-104, currently in a Phase 3 safety trial, with a potential NDA submission anticipated in H1 2025. The company has deprioritized other candidates, GTX-102 and GTX-101, recording impairment charges of $33.5 million. Risks include dependency on GTX-104, potential product liability, reliance on third-party manufacturers, and regulatory uncertainties. The company recently changed its auditor to KPMG LLP and completed a private placement offering, raising approximately $7.3 million.