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Edgewise Therapeutics reports continued successful drug trials, $17.4M loss in third quarter   

BOULDER — Edgewise Therapeutics Inc. (Nasdaq: EWTX) reported continued successful drug trials in the third quarter of 2022 as the company took more steps toward commercializing its muscular dystrophy treatment drug candidates.

EDG-5506, Edgewise’s flagship drug, is an oral drug designed to treat Becker Muscular Dystrophy and Duchenne Muscular Dystrophy, which affect the the muscles of the hips, pelvic area, thighs, shoulders and heart. 

In a six-month open-label study, treatment with EDG-5506 “led to a significant decrease in key biomarkers of muscle damage.” Edgewise also is initiating trials to test the drug’s effectiveness in children with muscular dystrophy.

Financially, Edgewise, which is a clinical-stage, pre-revenue company, posted a $17.4 million loss for the third quarter. Research and development expenses grew 12.1%, to $13.9 million from $12.4 million. 

Edgewise also rose $129 million in capital through a public offering. It has $365 million in cash and equivalent on hand. 

Source: BizWest

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