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Aadi Bioscience has filed its Form 10-K filing for the fiscal year ending December 31, 2024.
The filing outlines Aadi Bioscience's transition following the divestiture of its lead product, FYARRO, to KAKEN INVESTMENTS INC. for $102.4 million, which closed on March 25, 2025.
Aadi Bioscience's current focus is on developing a portfolio of next-generation antibody-drug conjugates (ADC Therapies) licensed from WuXi Biologics, targeting cancer indications with significant unmet needs.
The company plans to submit three investigational new drug applications to the FDA within the next 12 to 24 months, starting with HWK-007 for solid tumors in the second half of 2025.
The filing details Aadi Bioscience's strategy to leverage advanced ADC architectures and clinically validated targets to improve oncology therapies.
Aadi Bioscience reported net losses of $63.7 million for the year ended December 31, 2024, attributed to research and development expenses and the transition from its previous lead product.
The company acknowledges the need for additional capital to support ongoing operations and development efforts, with plans to seek further funding through various channels.
Aadi Bioscience's reliance on third-party manufacturers and suppliers, particularly in China, is highlighted as a potential risk factor, alongside regulatory and competitive challenges in the ADC market.
The filing underscores the importance of intellectual property protection and the company's efforts to secure and maintain patents for its ADC Therapies.
Aadi Bioscience's future growth may depend on successful strategic collaborations and licensing agreements to expand its product pipeline.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Aadi Bioscience, annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.