Astria Therapeutics Inc (NASDAQ:ATXS) Reports Narrower-Than-Expected Q2 2025 Loss and Strong Cash Runway

Astria Therapeutics Reports Q2 2025 Results: Narrower-Than-Expected Loss, Cash Runway Extended

Astria Therapeutics (NASDAQ:ATXS) reported a net loss of $0.57 per share for the second quarter of 2025, slightly better than the consensus analyst estimate of a $0.60 loss. Revenue remained at $0.0, in line with expectations, as the company continues to focus on clinical-stage development rather than commercial sales.

Financial Performance vs. Estimates

• EPS: Reported at -$0.57, beating estimates of -$0.60.
• Revenue: $0.0, matching expectations.
• Cash Position: The company ended the quarter with $259.2 million in cash and short-term investments, down from $328.1 million at the end of 2024. Management expects current funds, including a recent $16 million upfront payment from Kaken Pharmaceutical, to support operations into 2028.

The narrower loss was driven by disciplined spending, though R&D expenses rose to $25.9 million (up from $20.7 million in Q2 2024) due to increased clinical trial activity. General and administrative costs also climbed to $9.9 million, reflecting company growth.

Market Reaction

Following the earnings release, Astria’s stock showed minimal immediate after-hours movement, suggesting investors had largely priced in the results. Over the past month, shares have gained 5.4%, possibly reflecting optimism around clinical progress rather than short-term financials.

Key Pipeline Updates

1. Navenibart (STAR-0215) – The lead candidate for hereditary angioedema (HAE) continues to advance:

   • Phase 3 ALPHA-ORBIT trial enrollment is ongoing, with top-line data expected in early 2027.
   • Positive long-term data from the ALPHA-SOLAR trial showed a 92% mean reduction in monthly attack rates, reinforcing its best-in-class potential.
   • Strategic partnership with Kaken Pharmaceutical for Japanese commercialization, bringing $16 million upfront and potential milestone payments.

2. STAR-0310 (OX40 antagonist for atopic dermatitis) – Phase 1a trial in healthy subjects is underway, with early proof-of-concept data expected in Q3 2025.

Outlook vs. Analyst Estimates

While Astria did not provide formal financial guidance, analysts project:

• Q3 2025 EPS estimate: -$0.61
• Full-year 2025 EPS estimate: -$2.25
  The company’s extended cash runway suggests it can fund operations without near-term dilution, a positive for long-term investors.

Conclusion

Astria’s Q2 results reflect steady progress in its clinical programs, with a slightly better-than-expected loss and a solid cash position. The lack of a dramatic market reaction indicates that investors are focused on long-term catalysts, particularly the Phase 3 data for navenibart in 2027.

For more detailed earnings estimates and future projections, see Astria Therapeutics’ earnings estimates page.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research before making any financial decisions.