\nBELLUS Health Inc. (Nasdaq:BLU; TSX:BLU) (\u201cBELLUS Health\u201d or the \u201cCompany\u201d), a clinical-stage biopharmaceutical company developing novel therapeutics for the treatment of refractory chronic cough and other hypersensitization-related disorders, today reported its financial and operating results for the second quarter ending June 30, 2021.\n<\/p>\n
\n\u201cOur focus remains on the completion of our two ongoing Phase 2 clinical trials \u2013 SOOTHE and BLUEPRINT \u2013 evaluating our selective P2X3 antagonist BLU-5937, in refractory chronic cough and chronic pruritus associated with atopic dermatitis, respectively. Both clinical trials are advancing on track, with topline results expected in the fourth quarter of 2021,\u201d commented Roberto Bellini, President and Chief Executive Officer of BELLUS Health. \u201cWe expect the second half of this year to be an exciting time for BELLUS, as we believe the upcoming milestones will be key to advancing the development of BLU-5937.\u201d\n<\/p>\n
PROGRAM AND CORPORATE HIGHLIGHTS<\/b><\/p>\n
Ongoing Phase 2b SOOTHE clinical trial of BLU-5937 in patients with refractory chronic cough (\u201cRCC\u201d).<\/b><\/p>\n Ongoing Phase 2a BLUEPRINT clinical trial of BLU-5937 in patients with chronic pruritus associated with atopic dermatitis (\u201cAD\u201d).<\/b><\/p>\n Presented clinical data at the American Thoracic Society 2021 International Conference (\u201cATS\u201d).<\/b><\/p>\n Presenting at the upcoming European Respiratory Society International Congress 2021 (\u201cERS\u201d).<\/b><\/p>\n Ended the second quarter of 2021 with cash, cash equivalents and short-term investments totaling US$72.3 million.<\/b><\/p>\n FINANCIAL RESULTS<\/b><\/p>\n Cash Position:<\/b> As of June 30, 2021, the Company had available cash, cash equivalents and short-term investments totaling US$72.3 million, compared to US$98.3 million on December 31, 2020. The net decrease is primarily attributable to funds used to finance the Company\u2019s operating activities, mainly the research and development activities associated with its product candidate BLU-5937.\n<\/p>\n Net Loss:<\/b> For the quarter ended June 30, 2021, net loss amounted to US$17.8 million (US$0.23 per share), compared to US$8.4 million (US$0.14 per share) for the same period in 2020.\n<\/p>\n Research and Development Expenses:<\/b> Research and development expenses, net of research tax credits, amounted to US$15.2 million for the quarter ended June 30, 2021, compared to US$5.9 million for the same period in 2020, an increase of US$9.3 million or 158% year over year. The increase is primarily attributable to higher expenses incurred for the development of BLU-5937, mainly activities in relation to the Phase 2b SOOTHE trial in RCC and the Phase 2a BLUEPRINT trial in chronic pruritus associated with AD.\n<\/p>\n General and Administrative (\u201cG&A\u201d) Expenses:<\/b> General and administrative expenses amounted to US$2.8 million for the quarter ended June 30, 2021, compared to US$3.4 million for the same period in 2020, a decrease of US$0.6 million or 18% year over year. The decrease is mainly due to lower external G&A expenses.\n<\/p>\n Net Finance Income:<\/b> Net finance income amounted to US$0.2 million for the quarter ended June 30, 2021, compared to US$0.9 million for the same period in 2020.\n<\/p>\n SUMMARY OF FINANCIAL RESULTS<\/b><\/p>\n\n
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