The Woburn, MA-based biotech develops therapies to repair or reverse damage caused by a range of degenerative diseases based on Progenitor Cell Activation which relies on combinations of small molecules to activate progenitor cells (like stem cells, but more specific) to create functional tissue. Lead candidate is FX-322 to treat the underlying cause of sensorineural hearing loss. A Phase 2a study should launch next quarter.
2019 Financials (6 mo.): Operating Expenses: $12.9M (+50%); Net Loss: ($12.7M) (-48%); Cash Burn: ($10.6M) (-23%).
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