Valerio Therapeutics Reports 2023 Fiscal Year Results and Clinical Updates

Valerio Therapeutics, a clinical-stage biotech company, announced its 2023 financial outcomes and clinical progress. The company experienced a net loss of €20.344 million, slightly higher than the previous year’s €19.562 million loss. Total revenue reached €1.8 million, primarily from lump-sum royalties. Expenditures rose to €21.054 million, driven by increased personnel costs and research and development activities.

The cash balance as of December 31, 2023, stood at €6.8 million, a decrease from €14.6 million the previous year. This financial position is expected to sustain operations until the fourth quarter of 2024, supported by financing commitments from major shareholders.

In their clinical development updates, Valerio highlights the advancement of VIO-01, their next-generation DDR DNA decoy drug, which has entered first-in-human trials. The company decided to not further pursue AsiDNA™ development as a monotherapy due to its limited efficacy in early-phase trials.