Aptinyx (APTX) Misses Q2 EPS by 4c

Aptinyx (NASDAQ: APTX) reported Q2 EPS of ($0.29), $0.04 worse than the analyst estimate of ($0.25).

Cash and cash equivalents were $129.2 million at June 30, 2021 compared to $141.0 million at December 31, 2020. Aptinyx expects its current cash balance to support anticipated operations into 2023.

“We continue to make good progress in advancing our pipeline programs to enable multiple important Phase 2 data readouts in 2022,” said Norbert Riedel, PhD, chief executive officer of Aptinyx. “With several transformational milestones ahead, this is the right time to set plans in motion for a successful leadership transition. The board of directors and I are pleased to announce that, following his elevation to president last December, Andy Kidd will assume the role of president and CEO in January 2022. Andy has played a pivotal role in our company’s progress and he is the ideal person to lead Aptinyx as we advance these critically important medicines. I am confident that under his direction we will be able to create substantial value for patients, caregivers, and shareholders through the coming years. I look forward to continuing my active involvement with Aptinyx as well as my partnership with Andy as I dedicate my professional efforts to the role of executive chairperson through and beyond the major milestones ahead.”

Andy Kidd, MD, president and chief operating officer of Aptinyx, commented, “Aptinyx is at an exciting stage and I am honored to be involved with such innovative science and an impressive team. There is positive momentum across our ongoing and planned clinical studies, and the team has done exceptional work to get us to this point. I appreciate the confidence that Norbert and the board have placed in me to lead this top-tier organization as we move into the next stage in our evolution.”

Current board chairperson, Patrick Enright, also commented on the transition: “We are confident Andy’s planned appointment to the CEO role will continue to afford Aptinyx strong leadership ahead of and through our upcoming milestones. This transition process will unfold over the next several months to effect a seamless change in leadership. Norbert and I are pleased to be staying on with Aptinyx to support Andy and the company in our new roles.”

For earnings history and earnings-related data on Aptinyx (APTX) click here.

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