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LogicBio Therapeutics, Inc. (LOGC)

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Previous Close6.31
Open6.29
Bid6.56 x 900
Ask6.59 x 800
Day's Range6.29 - 6.62
52 Week Range3.05 - 11.60
Volume35,043
Avg. Volume194,412
Market Cap209.473M
Beta (5Y Monthly)1.17
PE Ratio (TTM)N/A
EPS (TTM)-1.60
Earnings DateNov 09, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est21.33
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  • GlobeNewswire

    LogicBio Therapeutics to Present at Upcoming Investor Conferences

    LEXINGTON, Mass., Nov. 12, 2020 (GLOBE NEWSWIRE) -- LogicBio Therapeutics, Inc. (Nasdaq:LOGC), a company dedicated to extending the reach of genetic medicine with pioneering targeted delivery today announced senior member of management will be presenting at upcoming investor conferences * COO Kyle Chiang will participate in fireside chat at the Barclay’s Gene Editing and Gene Therapy Summit on Monday November 16, 2020 at 8:15 AM ET * CEO Frederic Chereau will present at the Jeffries Virtual London Healthcare Conference Genetic Medicines Conference on Thursday, November 19, 2020 at 7:20 AM, ET. * CEO Frederic Chereau will record an on-demand presentation for the 32nd annual Piper Sandler Virtual Healthcare Conference that will be made available to attendees of the conference beginning on November 30, 2020. Links to all presentations will be available under the investors tab at www.logicbio.com upon their availability.About LogicBio Therapeutics LogicBio Therapeutics is dedicated to extending the reach of genetic medicine with pioneering targeted delivery platforms. LogicBio’s proprietary genome editing technology platform, GeneRide, enables the site-specific integration of a therapeutic transgene without nucleases or exogenous promoters by harnessing the native process of homologous recombination. LogicBio has received FDA clearance for the first-in-human clinical trial of LB-001, a wholly owned genome editing program leveraging GeneRide for the treatment of methylmalonic acidemia. Patient enrollment is expected to begin in early 2021. In addition, LogicBio has a collaboration with Takeda to research and develop LB-301, an investigational therapy leveraging GeneRide for the treatment of the rare pediatric disease Crigler-Najjar syndrome.LogicBio is also developing a Next Generation Capsid platform for use in gene editing and gene therapies. Data presented have shown that the capsids deliver highly efficient functional transduction of human hepatocytes with improved manufacturability with low levels of pre-existing neutralizing antibodies in human samples. Top-tier capsid candidates from this effort demonstrated significant improvements over benchmark AAVs currently in clinical development. LogicBio is developing these highly potent vectors for internal development candidates and potentially for business development collaborations.Contact:Matthias Jaffe Chief Financial Officer mjaffe@logicbio.com (617) 245-0399

  • LogicBio Therapeutics Reports Third Quarter 2020 Financial Results and Provides Business Update
    GlobeNewswire

    LogicBio Therapeutics Reports Third Quarter 2020 Financial Results and Provides Business Update

    \- IND for LB-001 in methylmalonic acidemia (MMA) cleared in August 2020, with first patient in Phase 1/2 SUNRISE trial expected to be enrolled in early 2021 \- Fast Track designation for LB-001 in MMA received in November 2020 \- First follow-on offering post-IPO closed in October 2020LEXINGTON, Mass., Nov. 09, 2020 (GLOBE NEWSWIRE) -- LogicBio Therapeutics, Inc. (Nasdaq:LOGC) (LogicBio or the Company), a company dedicated to extending the reach of genetic medicine with pioneering targeted delivery platforms, today reported financial results for the quarter ended September 30, 2020 and provided a business update.“LogicBio has recently marked several important achievements, which could set the stage for exciting news from our company in the quarters to come,” said Frederic Chereau, President and CEO. “Over the last several months, LogicBio made significant advances in its LB-001 program in methylmalonic acidemia (MMA), with the clearance of the IND and the receipt of Fast Track designation for LB-001 in MMA. Following our $48.3 million follow-on public offering in early October, we believe we are well-positioned financially to deliver on our upcoming milestones.” Mr. Chereau continued, “The Phase 1/2 SUNRISE trial is designed to treat MMA patients at a young age when gene editing could potentially make a meaningful, life-long difference. We continue to anticipate the enrollment of our first patient in the SUNRISE trial in early 2021, and we eagerly look forward to updating both the clinical community and investors of our progress as 2021 unfolds.” Mr. Chereau concluded by saying, “In addition to our exciting clinical program, we have extended our collaboration with the Children’s Medical Research Institute of Australia to continue to develop our Next Generation Capsid platform, which has already yielded novel liver-tropic capsids that we believe are superior to ones that are currently used in the clinic. We also anticipate sharing further data on our novel capsids in early 2021.”Anticipated LogicBio Milestones for 2021:LB-001 for MMA * Early 2021: First patient enrollment in Phase 1/2 SUNRISE trial * Mid 2021: Operational update on dose escalation and age de-escalation * Mid 2021: Data from retrospective natural history study in MMA * Late 2021: Interim data from SUNRISE trialPipeline * Early 2021: Translational data on GeneRide and Next Generation Capsid Platforms * 2021: Nomination of next internal development candidateThird Quarter 2020 Financial Results Three Months Ended September 30, 2020 and 2019 * R&D Expenses: Research and development expenses for the three months ended September 30, 2020 were $5.5 million, compared to $8.9 million for the three months ended September 30, 2019. The decrease of approximately $3.4 million was primarily due to a decrease of approximately $3.8 million in external development and manufacturing expenses for our lead product candidate, LB-001. This decrease was partially offset by an increase of $0.5 million in other research and development expenses as we increased our overall research and development activities related GeneRide and our Next Generation Capsids. * G&A Expenses: General and administrative expenses were $3.2 million for the three months ended September 30, 2020, compared to $2.2 million for the three months ended September 30, 2019. The increase of approximately $1.0 million was primarily driven by an increase of $0.4 million in stock-based compensation expense and a $0.4 million increase in legal fees and professional services. * Net Loss: Net loss was $8.0 million, or $0.34 per share, for the three months ended September 30, 2020, compared to a net loss of $10.9 million, or $0.48 per share, for the three months ended September 30, 2019. * Cash Position and Financial Guidance: As of September 30, 2020, we had cash and cash equivalents of $32.3 million, which we believe, combined with the net proceeds of $45.2 million from our October follow-on offering, will be sufficient to fund our operating expenses and capital expenditures for at least the next twelve months.About LogicBio TherapeuticsLogicBio Therapeutics is dedicated to extending the reach of genetic medicine with pioneering targeted delivery platforms. LogicBio’s proprietary genome editing technology platform, GeneRide, enables the site-specific integration of a therapeutic transgene without nucleases or exogenous promoters by harnessing the native process of homologous recombination. LogicBio has received FDA clearance for the first-in-human clinical trial of LB-001, a wholly owned genome editing program leveraging GeneRide for the treatment of methylmalonic acidemia. Patient enrollment is expected to begin in early 2021. In addition, LogicBio has a collaboration with Takeda to research and develop LB-301, an investigational therapy leveraging GeneRide for the treatment of the rare pediatric disease Crigler-Najjar syndrome.LogicBio is also developing a Next Generation Capsid platform for use in gene editing and gene therapies. Data presented have shown that the capsids deliver highly efficient functional transduction of human hepatocytes with improved manufacturability with low levels of pre-existing neutralizing antibodies in human samples. Top-tier capsid candidates from this effort demonstrated significant improvements over benchmark AAVs currently in clinical development. LogicBio is developing these highly potent vectors for internal development candidates and potentially for business development collaborations.LogicBio is headquartered in Lexington, Mass. For more information, please visit www.logicbio.com.Forward Looking StatementsThis press release contains “forward-looking” statements within the meaning of the federal securities laws, including those related to the Company’s plans to initiate, advance and complete its planned Phase 1/2 SUNRISE clinical trial of LB-001 in MMA and the potential benefits to patients of LB-001; the timing, progress and results of the Company’s research and development activities, including those related to the GeneRide technology platform and Next Generation Capsid Program; its plans for LB-301 in Crigler-Najjar; and the sufficiency of our cash on hand to fund our operating expenses and capital expenditures. These are not statements of historical facts and are based on management’s beliefs and assumptions and on information currently available. They are subject to risks and uncertainties that could cause the actual results and the implementation of the Company’s plans to vary materially, including the risks associated with the initiation, cost, timing, progress and results of the Company’s current and future research and development activities and preclinical studies and potential future clinical trials. In particular, the impact of the COVID-19 pandemic on the Company’s ability to progress with its research, development, manufacturing and regulatory efforts, including the Company’s plans to initiate, advance and complete its Phase 1/2 clinical trial for LB-001 in MMA, and the value of and market for the Company’s common stock, will depend on future developments that are highly uncertain and cannot be predicted with confidence at this time, such as the ultimate duration of the pandemic, travel restrictions, quarantines, social distancing and business closure requirements in the United States and in other countries, and the effectiveness of actions taken globally to contain and treat the disease. These risks are discussed in the Company’s filings with the U.S. Securities and Exchange Commission (SEC), including, without limitation, the Company’s Annual Report on Form 10-K filed on March 16, 2020 with the SEC, the Company’s Quarterly Report on Form 10-Q filed on May 11, 2020, and the Company’s subsequent Quarterly Reports on Form 10-Q and other filings with the SEC. Except as required by law, the Company assumes no obligation to update these forward-looking statements publicly, even if new information becomes available in the future.LogicBio Therapeutics, Inc. Condensed Consolidated Balance Sheets (In Thousands) (Unaudited) As of  September 30, 2020 December 31, 2019 Cash, cash equivalents and investments$32,285 $50,647 Other assets9,521 5,013 TOTAL ASSETS$41,806 $55,660      Accounts payable, accrued expenses and other liabilities$19,515 $13,373 Stockholders' equity22,291 42,287 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$41,806 $55,660 LogicBio Therapeutics, Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except share and per share amounts) (unaudited)  Three Months Ended September 30,  Nine Months Ended September 30,    2020  2019  2020  2019  REVENUE                 Service revenue $926  $—  $2,912  $—  Total revenue  926   —   2,912   —  OPERATING EXPENSES                 Research and development  5,492   8,858   18,560   22,278  General and administrative  3,200   2,175   9,421   7,331  Total operating expenses  8,692   11,033   27,981   29,609  LOSS FROM OPERATIONS  (7,766)  (11,033)  (25,069)  (29,609) OTHER INCOME (EXPENSE), NET:                 Interest income  2   389   179   1,243  Interest expense  (276)  (271)  (821)  (271) Other income (expense), net  1   (3)  (10)  (4) Total other (expense) income, net  (273)  115   (652)  968  Loss before income taxes  (8,039)  (10,918)  (25,721)  (28,641) Income tax provision  —   —   —   (22) Net loss $(8,039) $(10,918) $(25,721) $(28,663) Net loss per share—basic and diluted $(0.34) $(0.48) $(1.10) $(1.27) Weighted-average common stock outstanding—basic and diluted  23,599,052   22,677,205   23,367,804   22,491,282  Contact:Matthias Jaffe Chief Financial Officer mjaffe@logicbio.com (617) 245-0399

  • LogicBio Therapeutics Receives FDA Fast Track Designation for LB-001 for the Treatment of Methylmalonic Acidemia (MMA)
    GlobeNewswire

    LogicBio Therapeutics Receives FDA Fast Track Designation for LB-001 for the Treatment of Methylmalonic Acidemia (MMA)

    Fast Track designation facilitates development of new therapies that treat serious conditions and fulfill unmet needs for patientsLEXINGTON, Mass., Nov. 04, 2020 (GLOBE NEWSWIRE) -- LogicBio Therapeutics, Inc. (Nasdaq:LOGC) (LogicBio), a company dedicated to extending the reach of genetic medicine with pioneering targeted delivery platforms, announced today the U.S. Food and Drug Administration (FDA) has granted Fast Track designation to its clinical candidate, LB-001 for the treatment methylmalonic acidemia (MMA). According to the FDA, the purpose of Fast Track designation is to get important new drugs to patients earlier by facilitating the development, and expediting the review, of drugs to treat serious conditions and fill an unmet medical need. Commenting on the announcement, Daniel Gruskin, M.D., Senior Vice President, Head of Clinical Development of LogicBio, said, “We are pleased the FDA has granted Fast Track designation to LB-001 in recognition of the importance of our efforts to bring a durable treatment to the children suffering from MMA. With Fast Track status, we plan to continue to work closely with the FDA to fully utilize the opportunities presented by this designation to make LB-001 available to patients as quickly as possible.”About Fast Track DesignationThe FDA’s Fast Track designation is a process designed to expedite or facilitate the review of product candidates to treat serious conditions and fill an unmet medical need. Fast Track designation allows for early and frequent communication with the FDA throughout the entire drug development and review process. It may also allow for priority or rolling review of a company’s Biologics License Application (BLA).About LogicBio Therapeutics LogicBio Therapeutics is dedicated to extending the reach of genetic medicine with pioneering targeted delivery platforms. LogicBio’s proprietary genome editing technology platform, GeneRide, enables the site-specific integration of a therapeutic transgene without nucleases or exogenous promoters by harnessing the native process of homologous recombination. LogicBio has received FDA clearance for the first-in-human clinical trial of LB-001, a wholly owned genome editing program leveraging GeneRide for the treatment of methylmalonic acidemia. Patient enrollment is expected to begin in early 2021. In addition, LogicBio has a collaboration with Takeda to research and develop LB-301, an investigational therapy leveraging GeneRide for the treatment of the rare pediatric disease Crigler-Najjar syndrome.LogicBio is also developing a Next Generation Capsid platform for use in gene editing and gene therapies. Data presented have shown that the capsids deliver highly efficient functional transduction of human hepatocytes with improved manufacturability with low levels of pre-existing neutralizing antibodies in human samples. Top-tier capsid candidates from this effort demonstrated significant improvements over benchmark AAVs currently in clinical development. LogicBio is developing these highly potent vectors for internal development candidates and potentially for business development collaborations.LogicBio is headquartered in Lexington, Mass. For more information, please visit www.logicbio.com.Forward Looking StatementsThis press release contains “forward-looking” statements within the meaning of the federal securities laws, including those related to the timing, progress and results of the Company’s research and development activities, including those related to LB-001, and the significance and benefits of receiving the FDA’s Fast Track designation for LB-001 in MMA. These are not statements of historical facts and are based on management’s beliefs and assumptions and on information currently available. They are subject to risks and uncertainties that could cause the actual results and the implementation of the Company’s plans to vary materially, including the risks associated with the initiation, cost, timing, progress and results of the Company’s current and future research and development activities and preclinical studies and potential future clinical trials. In particular, the impact of the COVID-19 pandemic on the Company’s ability to progress with its research, development, manufacturing and regulatory efforts, including the Company’s plans to initiate, advance and complete its Phase 1/2 clinical trial for LB-001 in MMA, and the value of and market for the Company’s common stock, will depend on future developments that are highly uncertain and cannot be predicted with confidence at this time, such as the ultimate duration of the pandemic, travel restrictions, quarantines, social distancing and business closure requirements in the United States and in other countries, and the effectiveness of actions taken globally to contain and treat the disease. These risks are discussed in the Company’s filings with the U.S. Securities and Exchange Commission (SEC), including, without limitation, the Company’s Annual Report on Form 10-K filed on March 16, 2020 with the SEC, the Company’s Quarterly Report on Form 10-Q filed on May 11, 2020, and the Company’s subsequent Quarterly Reports on Form 10-Q and other filings with the SEC. Except as required by law, the Company assumes no obligation to update these forward-looking statements publicly, even if new information becomes available in the future.Contact:Matthias Jaffe Chief Financial Officer Mjaffe@logicbio.com 617-245-0399