Apogee Therapeutics, Inc. (Nasdaq: APGE) is a clinical-stage biotechnology company focused on developing novel biologics for treating inflammatory and immunology diseases, including atopic dermatitis (AD) and asthma. The company’s financial results reveal it is in a rising condition, as indicated by increased expenditures due to pipeline advancements.

For the first quarter of 2025, Apogee reported a net loss of $55.3 million, compared to a net loss of $32.1 million in the same quarter of 2024. This reflects an increase of 72.3% year-on-year. Research and development (R&D) expenses were $46.4 million, up from $28.7 million in the first quarter of 2024, an increase of 62.2%. General and administrative (G&A) expenses also rose to $16.7 million, compared to $9.5 million a year earlier, marking a 76.3% increase.

The total operating expenses reached $63.1 million for the quarter, significantly higher than $38.2 million for the same period last year, representing a 65.2% increase. Apogee’s cash, cash equivalents, and marketable securities decreased to $681.4 million at the end of Q1 2025, down from $731.1 million at year-end 2024. This provides a runway into Q1 2028 based on current operating plans.

The company also reported an increase in interest income to $7.8 million, compared to $6.1 million in the previous year. The total assets as of March 31, 2025, were $714.2 million, down from $753.9 million at the end of 2024. Current liabilities increased to $32.96 million, up from $28.56 million as of December 31, 2024.

Significant pipeline developments included progress in the Phase 2 APEX trial for APG777, which is actively enrolling patients and is expected to report interim results in mid-2025. Positive interim data from the Phase 1b trial of APG808 indicated a maximum decrease in fractional exhaled nitric oxide (FeNO) of 53%, demonstrating potential in asthma treatment.

Overall, Apogee Therapeutics is executing its growth strategy, investing heavily in its R&D pipeline while maintaining significant cash resources to support ongoing and future efforts.