SIOX

Sio Gene Therapies Announces Fiscal Third Quarter 2022 Financial Results

Retrieved on: 
Tuesday, February 14, 2023
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NEW YORK, Feb. 14, 2023 (GLOBE NEWSWIRE) -- Sio Gene Therapies Inc. (NASDAQ: SIOX) today provided financial results for its fiscal third quarter ended December 31, 2022.

Key Points: 
  • –  Operating Cash Outflows for the Nine Months Ended December 31, 2022 decreased by $23.8 million or 56% versus the prior year period
    –  $46.1 million of cash and cash equivalents as of December 31, 2022, a strong cash position as the Company prepares for liquidation and dissolution, subject to stockholder approval
    NEW YORK, Feb. 14, 2023 (GLOBE NEWSWIRE) -- Sio Gene Therapies Inc. (NASDAQ: SIOX) today provided financial results for its fiscal third quarter ended December 31, 2022.
  • Research and development expenses were $1.9 million for the three months ended December 31, 2022 and $21.3 million for the three months ended December 31, 2021.
  • General and administrative expenses were $2.6 million for the three months ended December 31, 2022 and $4.1 million for the three months ended December 31, 2021.
  • The net loss for the fiscal third quarter ended December 31, 2022 was $4.0 million, or $0.05 per share, compared to a net loss of $25.5 million, or $0.35 per share, in the fiscal third quarter ended December 31, 2021.

Sio Gene Therapies Inc. Announces Board Approval of Plan of Complete Liquidation and Dissolution

Retrieved on: 
Wednesday, December 14, 2022
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The Board of Directors has unanimously approved the dissolution and liquidation of the Company, subject to shareholder approval, pursuant to a Plan of Complete Liquidation and Dissolution (the “Plan of Dissolution”).

Key Points: 
  • The Board of Directors has unanimously approved the dissolution and liquidation of the Company, subject to shareholder approval, pursuant to a Plan of Complete Liquidation and Dissolution (the “Plan of Dissolution”).
  • The Plan of Dissolution contemplates an orderly wind down of the Company's business and operations.
  • Based on this estimated reserve, the Company will subsequently make liquidating distributions to shareholders as soon as practicable following the filing of the certificate of dissolution.
  • In connection with the proposed Plan of Dissolution, the Company intends to file with the SEC a proxy statement and other relevant materials.

Sio Gene Therapies Announces Fiscal Second Quarter 2022 Financial Results

Retrieved on: 
Thursday, November 10, 2022
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NEW YORK, Nov. 10, 2022 (GLOBE NEWSWIRE) -- Sio Gene Therapies Inc. (NASDAQ: SIOX) today provided financial results for its fiscal second quarter ended September 30, 2022.

Key Points: 
  • - Operating Cash Outflows for the Six Months Ended September 30, 2022 decreased by $8.1 million or 37% versus the prior year period
    - Strong cash position with $49.86 million of cash and cash equivalents as of September 30, 2022, expected to provide cash runway beyond December 2023
    NEW YORK, Nov. 10, 2022 (GLOBE NEWSWIRE) -- Sio Gene Therapies Inc. (NASDAQ: SIOX) today provided financial results for its fiscal second quarter ended September 30, 2022.
  • We continue to conduct research activities relating to one pre-clinical program and also expect to provide an update on our strategic process by December 31, 2022, said David Nassif, J.D., Chief Executive Officer of Sio Gene Therapies.
  • Research and development expenses were $0.3 million for the three months ended September30, 2022 and $11.4 million for the three months ended September30, 2021.
  • The net loss for the fiscal second quarter ended September 30, 2022 was $3.1 million, or $0.04 per share, compared to a net loss of $21.2 million, or $0.29 per share, in the fiscal second quarter ended September 30, 2021.

Sio Gene Therapies Announces Fiscal First Quarter 2022 Financial Results

Retrieved on: 
Thursday, August 11, 2022
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NEW YORK, N.Y. and DURHAM, N.C., Aug. 11, 2022 (GLOBE NEWSWIRE) -- Sio Gene Therapies Inc. (NASDAQ: SIOX) today provided financial results for its fiscal first quarter ended June 30, 2022.

Key Points: 
  • Strong cash position with $54.8 million of cash and cash equivalents as of June 30, 2022, expected to provide cash runway beyond August 2023
    NEW YORK, N.Y. and DURHAM, N.C., Aug. 11, 2022 (GLOBE NEWSWIRE) -- Sio Gene Therapies Inc. (NASDAQ: SIOX) today provided financial results for its fiscal first quarter ended June 30, 2022.
  • We are also continuing to actively pursue strategic alternatives that could deploy our cash for better returns to our stockholders, said David Nassif, J.D., Chief Executive Officer of Sio Gene Therapies.
  • For the fiscal first quarter ended June 30, 2022, research and development expenses were $5.5 million, a decrease of $2.5 million compared to the fiscal first quarter ended June 30, 2021.
  • The net loss for the fiscal first quarter ended June 30, 2022 was $8.4 million, or $0.11 per share, compared to a net loss of $11.9 million, or $0.16 per share, in the fiscal first quarter ended June 30, 2021.

Sio Gene Therapies Announces Fiscal Year 2021 Year-End Financial Results

Retrieved on: 
Tuesday, June 14, 2022
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NEW YORK and DURHAM, N.C., June 14, 2022 (GLOBE NEWSWIRE) -- Sio Gene Therapies Inc. (NASDAQ: SIOX) today provided financial results for its fiscal year ended March 31, 2022.

Key Points: 
  • NEW YORK and DURHAM, N.C., June 14, 2022 (GLOBE NEWSWIRE) -- Sio Gene Therapies Inc. (NASDAQ: SIOX) today provided financial results for its fiscal year ended March 31, 2022.
  • For the fiscal year ended March 31, 2022, research and development expenses were $53.4 million, an increase of $28.5 million compared to the fiscal year ended March 31, 2021.
  • General and administrative expenses for the fiscal year ended March 31, 2022 were $18.2 million, an increase of $0.9 million compared to the fiscal year ended March 31, 2021.
  • All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that Sio expected.

Sio Gene Therapies Provides Corporate Update

Retrieved on: 
Wednesday, April 27, 2022
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NEW YORK and DURHAM, N.C., April 27, 2022 (GLOBE NEWSWIRE) -- Sio Gene Therapies Inc. (NASDAQ: SIOX) today announced that it has provided the required notice to the University of Massachusetts to terminate its licensing agreement to develop and commercialize gene therapy product candidates, including AXO-AAV-GM1 and AXO-AAV-GM2, for the treatment of GM1 gangliosidosis and GM2 gangliosidosis (including Tay-Sachs disease and Sandhoff disease), respectively.

Key Points: 
  • The Company will explore options such as the potential for a company sale, merger, business combination, or other transactions designed to maximize shareholder value.
  • All forward-looking statements are based on estimates and assumptions by Sios management that, although Sio believes to be reasonable, are inherently uncertain.
  • All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that Sio expected.
  • Sio undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

Sio Gene Therapies Announces Corporate Updates and Fiscal Third Quarter 2021 Financial Results

Retrieved on: 
Friday, February 11, 2022
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I look forward to sharing continued updates across each of these programs as they reach meaningful clinical milestones.

Key Points: 
  • I look forward to sharing continued updates across each of these programs as they reach meaningful clinical milestones.
  • General and administrative expenses were $4.1 million for the three months ended December31, 2021 and $4.2 million for the three months ended December31, 2020.
  • Sio Gene Therapies combines cutting-edge science with bold imagination to develop genetic medicines that aim to radically improve the lives of patients.
  • All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that Sio expected.

Sio Gene Therapies to Present at the 18th Annual WORLDSymposium™ 2022

Retrieved on: 
Wednesday, February 2, 2022
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NEW YORK andDURHAM, N.C., Feb. 02, 2022 (GLOBE NEWSWIRE) -- Sio Gene Therapies Inc.(NASDAQ: SIOX), a clinical-stage company focused on developing gene therapies to radically transform the lives of patients with neurodegenerative diseases, today announced that it will present data in an oral platform presentation and two poster presentations at the 18th Annual WORLDSymposium 2022, to be held February 7-11, 2022.

Key Points: 
  • NEW YORK andDURHAM, N.C., Feb. 02, 2022 (GLOBE NEWSWIRE) -- Sio Gene Therapies Inc.(NASDAQ: SIOX), a clinical-stage company focused on developing gene therapies to radically transform the lives of patients with neurodegenerative diseases, today announced that it will present data in an oral platform presentation and two poster presentations at the 18th Annual WORLDSymposium 2022, to be held February 7-11, 2022.
  • The Company is also collaborating with Invitae, who will present a poster on the Detect LSD program.
  • The gene therapy is delivered intravenously, which has the potential to achieve a broad central and peripheral biodistribution.
  • Sio Gene Therapiescombines cutting-edge science with bold imagination to develop genetic medicines that aim to radically improve the lives of patients.

Sio Gene Therapies Announces Prioritization of Lead Gene Therapy Programs in GM1 and GM2 Gangliosidosis, Extension of Cash Runway, and CEO Transition

Retrieved on: 
Monday, January 31, 2022
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NEW YORK and DURHAM, N.C., Jan. 31, 2022 (GLOBE NEWSWIRE) -- Sio Gene Therapies Inc. (NASDAQ: SIOX), a clinical-stage company focused on developing gene therapies to radically transform the lives of patients with neurodegenerative diseases, today provided a corporate update announcing the prioritization of AXO-AAV-GM1 and AXO-AAV-GM2, its clinical stage AAV gene therapy programs for GM1 and GM2 gangliosidosis (Tay-Sachs/Sandhoff disease). The portfolio prioritization extends the Company’s estimated cash runway into the second half of 2023, beyond multiple key clinical milestones for both gene therapy programs. With this prioritization, the company intends to terminate its licensing agreement with Oxford Biomedica for AXO-Lenti-PD, its lentiviral gene therapy program for Parkinson’s disease.

Key Points: 
  • The portfolio prioritization extends the Companys estimated cash runway into the second half of 2023, beyond multiple key clinical milestones for both gene therapy programs.
  • With this prioritization, the company intends to terminate its licensing agreement with Oxford Biomedica for AXO-Lenti-PD, its lentiviral gene therapy program for Parkinsons disease.
  • I believe our programs in GM1 and GM2 have the ability to transform the care for patients and deserve this heightened focus.
  • Dr. Cheruvu added, Serving as the CEO of Sio for the last four years has been an immense privilege.

Sio Gene Therapies Announces Successful Manufacture of Three GMP Batches of AXO-Lenti-PD Gene Therapy for Parkinson’s Disease

Retrieved on: 
Thursday, November 11, 2021
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NEW YORK and DURHAM, N.C., Nov. 11, 2021 (GLOBE NEWSWIRE) -- Sio Gene Therapies Inc. (NASDAQ: SIOX), a clinical-stage company focused on developing gene therapies to radically transform the lives of patients with neurodegenerative diseases, today provided a manufacturing and regulatory update for AXO-Lenti-PD, its clinical-stage gene therapy for Parkinson’s disease.

Key Points: 
  • With the successful manufacture of three batches, all of which achieved the target titer and have completed fill and finish, we now have a process that has generated sufficient clinical trial material for future clinical development.
  • The MHRA provided guidance on the:
    Sio Gene Therapies combines cutting-edge science with bold imagination to develop genetic medicines that aim to radically improve the lives of patients.
  • We are also expanding the reach of gene therapy to highly prevalent conditions such as Parkinsons disease, which affects millions of patients globally.
  • All forward-looking statements are based on estimates and assumptions by Sios management that, although Sio believes to be reasonable, are inherently uncertain.