Arca Biopharma slates third quarter for COVID treatment trial results

WESTMINSTER — ARCA Biopharma Inc. (Nasdaq: ARCA) posted far higher expenses in 2020 as it pivoted to COVID-19 treatment research, but said it’s well-capitalized to see its work through into next year.

In its annual report released Thursday, the company reported having $49.1 million in cash on hand at the end of 2020, enough to keep it operating through 2022. It posted a net loss of $9.7 million for the year and had no revenues, as it has yet to get one of its drug candidates approved for sale.

Before the pandemic, Arca focused on developing its lead drug candidate AB201 as an anti-blood-clotting treatment for cardiac patients. It later shifted to repurposing the drug for use with patients suffering severe COVID symptoms after seeing data on some deaths being linked to clotting or other inflammatory side effects.

The company was cleared late last year to begin recruiting patients for AB201’s Phase II trial. In a statement, CEO Michael Bristow said the company expects to release data on the trial in the third quarter of the year.

“As a therapeutic aimed at a host response to a disease syndrome, we believe (AB201) has therapeutic potential for future viral outbreaks beyond the current pandemic, even after safe and effective vaccines for SARS-CoV-2 are successfully deployed,” Bristow said.

© 2021 BizWest Media LLC 

WESTMINSTER — ARCA Biopharma Inc. (Nasdaq: ARCA) posted far higher expenses in 2020 as it pivoted to COVID-19 treatment research, but said it’s well-capitalized to see its work through into next year.

In its annual report released Thursday, the company reported having $49.1 million in cash on hand at the end of 2020, enough to keep it operating through 2022. It posted a net loss of $9.7 million for the year and had no revenues, as it has yet to get one of its drug candidates approved for sale.

Before the pandemic, Arca focused on developing its lead drug candidate AB201 as an anti-blood-clotting treatment for cardiac patients. It later shifted to repurposing the drug for use with patients suffering severe COVID symptoms after seeing data on some deaths being linked to clotting or other inflammatory side effects.

The company was cleared late last year to begin recruiting patients for AB201’s Phase II trial. In a statement, CEO Michael Bristow said the company expects to release data on the trial in the third quarter of the year.

“As a therapeutic aimed at a host response to a disease syndrome, we believe (AB201) has therapeutic potential for future viral outbreaks beyond the current pandemic, even after safe and effective vaccines for SARS-CoV-2 are successfully deployed,” Bristow said.

© 2021 BizWest Media LLC