Viela Bio Inc (NASDAQ: VIE) stock surged over 9.3% on 26th March, 2020 (as of 12:48 pm GMT-4; Source: Google finance) after the company in the fourth quarter of FY 19 has reported a net loss of $11.6 million, compared to a net loss of $15.1 million for the fourth quarter of 2018. At the end of December 2019, Viela had $346.2 million in cash, cash equivalents, and investments and no outstanding debt. Viela in 1Q 2020 received $30.0 million in cash for the upfront licensing fee from Mitsubishi Tanabe Pharma Corporation.
Viela Bio projects that its cash, cash equivalents and investments will fund its operating plans into the first half of 2022.
On the other hand, the company’s pipeline is robust with five molecules in development, three in clinical stage and two in preclinical. The biggest near-term milestone is a potential approval of inebilizumab in NMOSD, which would be the first U.S. FDA approval. The company’s pipeline is strong with five molecules in development, three in clinical stage and two in preclinical. The biggest near-term milestone is a potential approval of inebilizumab in NMOSD and it would be the first U.S. FDA approval. The company also developing VIB4920, which is a fusion protein designed to bind to CD40 ligand, blocking CD40 ligand and CD40 interaction. It is in development for Sjögren’s syndrome and kidney transplant rejection. The company’s third clinical candidate is VIB7734 and it is currently in Phase 1b multiple-ascending dose study. The company expect interim data for the second cohort in the first-half of this year. In parallel, the company is also preparing for Phase 2 studies.
Moreover, the company has started NMO indication that’s because of the high unmet medical need and is now expanding inebilizumab into indications with two to five times of the patient size in MG and IgG4-related disease. Further, the company is developing molecule as a potential first-line monotherapy for patients with NMOSD. NMOSD is a severe and a rare autoimmune disease that affects optic nerve and spinal cord. Patients suffer from debilitating relapse or attacks, which generally leads to blindness and permanent paralysis.
Additionally, the company in October 2019 raised more than $172.6 million in an Initial Public Offering. The company has signed a partnership with Mitsubishi Tanabe Pharma Corporation for the development and commercialization of inebilizumab in Japan and eight additional Asian countries for NMOSD and other potential indications.