RPHM Reneo Pharmaceuticals Inc.

8.14
-0.15  -2%
Previous Close 8.29
Open 8.37
52 Week Low 7.63
52 Week High 17.1799
Market Cap $197,690,099
Shares 24,286,253
Float 10,796,879
Enterprise Value $107,683,412
Volume 9,715
Av. Daily Volume 66,339
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Drug Stage Catalyst Date
REN001
McArdle disease
Phase 1b
Phase 1b
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REN001
Long-chain fatty acid oxidation disorders (LC-FAOD)
Phase 1b
Phase 1b
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REN001 (STRIDE)
Primary mitochondrial myopathies (PMM)
Phase 2b
Phase 2b
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Latest News

  1. IRVINE, Calif., July 28, 2021 (GLOBE NEWSWIRE) -- Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM), a clinical stage pharmaceutical company focused on the development and commercialization of therapies for patients with rare genetic mitochondrial diseases, today announced that the first patient has been dosed in the STRIDE study. The trial is designed to evaluate the efficacy and safety of REN001 for the treatment of patients with primary mitochondrial myopathies (PMM).

    STRIDE is a global, double-blind, randomized, placebo-controlled Phase 2b trial designed to assess the efficacy and safety of 100 mg REN001 administered orally, once-daily for 24 weeks. Approximately 200 adult patients with PMM caused by alterations in mitochondrial DNA are expected…

    IRVINE, Calif., July 28, 2021 (GLOBE NEWSWIRE) -- Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM), a clinical stage pharmaceutical company focused on the development and commercialization of therapies for patients with rare genetic mitochondrial diseases, today announced that the first patient has been dosed in the STRIDE study. The trial is designed to evaluate the efficacy and safety of REN001 for the treatment of patients with primary mitochondrial myopathies (PMM).

    STRIDE is a global, double-blind, randomized, placebo-controlled Phase 2b trial designed to assess the efficacy and safety of 100 mg REN001 administered orally, once-daily for 24 weeks. Approximately 200 adult patients with PMM caused by alterations in mitochondrial DNA are expected to be enrolled into STRIDE. The primary efficacy endpoint is the change from baseline in the distance walked during a 12-minute walk test after 24 weeks of treatment. Secondary efficacy endpoints include changes from baseline in the Modified Fatigue Impact Scale, Patient Global Impression of Change scale, and other patient-reported outcomes.

    "We are truly excited about achieving this important milestone," said Lynn Purkins, Ph.D., Senior Vice President of Clinical Operations. "Patients with PMM have genetic alterations that hamper the ability of their mitochondria to generate energy from nutrient sources, affecting multiple organ systems. It is a debilitating condition, for which there are unfortunately no approved treatment options. As we continue to advance REN001 in this patient population, we look forward to completing enrollment of the STRIDE study and sharing the results," concluded Dr. Purkins.

    REN001 is a potent and selective agonist of the peroxisome proliferator-activated receptor delta (PPARδ) receptor. The company has received Orphan Drug and Fast Track designations for REN001 from the U.S. Food and Drug Administration for PMM. In addition to PMM, the company is also developing REN001 for the treatment of other diseases that result from mitochondrial dysfunction or impaired energy production, including long-chain fatty acid oxidation disorders (LC-FAOD) and glycogen storage disorder type V (McArdle disease).

    About Reneo Pharmaceuticals

    Reneo is a clinical stage pharmaceutical company focused on the development and commercialization of therapies for patients with rare genetic mitochondrial diseases, which are often associated with the inability of mitochondria to produce adenosine triphosphate (ATP). Reneo is developing REN001 to modulate genes critical to metabolism and generation of ATP, which is the primary source of energy for cellular processes. REN001 has been shown to increase transcription of genes involved in mitochondrial function and increase fatty acid oxidation and may increase production of new mitochondria.

    About PMM

    PMM are a group of disorders that affect roughly 1 in 5,000 people worldwide. PMM are caused by genetic mutations in the mitochondrial or nuclear DNA that reduce the ability of mitochondria to produce energy from nutrient sources. This energy deficit particularly affects tissues and organs with high energy demand such as muscle, brain, and heart. The symptoms of PMM include muscle weakness or exercise intolerance, movement disorder, deafness, blindness, and droopy eyelids among others. The prognosis for these disorders ranges in severity from progressive weakness to death.

    Forward-Looking Statements

    Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding, among other things, the enrollment, conduct, progress, timing, and results of Reneo's clinical trials, and the regulatory approval path for REN001. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "plans," "will," "believes," "anticipates," "expects," "intends," "goal," "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Reneo's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with Reneo's business in general, and the other risks described in Reneo's filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made. Reneo undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

    Contact:

    Joyce Allaire

    Managing Director

    LifeSci Advisors, LLC

    Vinny Jindal

    Chief Financial Officer

    Reneo Pharmaceuticals, Inc.



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  2. SAN DIEGO, July 09, 2021 (GLOBE NEWSWIRE) -- Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM), a clinical stage pharmaceutical company focused on the development and commercialization of therapies for patients with rare genetic mitochondrial diseases, announced today that Jefferies LLC, SVB Leerink LLC and Piper Sandler, as the representatives of the several underwriters of Reneo's initial public offering, have agreed to waive the lock-up restriction with respect to 111,736 shares of common stock held by Wendy Johnson, an officer of the company who previously announced her intention to retire on or before December 31, 2021. The waiver for Ms. Johnson will take effect on July 13, 2021 and the shares may be sold on or after such date.  

    This press

    SAN DIEGO, July 09, 2021 (GLOBE NEWSWIRE) -- Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM), a clinical stage pharmaceutical company focused on the development and commercialization of therapies for patients with rare genetic mitochondrial diseases, announced today that Jefferies LLC, SVB Leerink LLC and Piper Sandler, as the representatives of the several underwriters of Reneo's initial public offering, have agreed to waive the lock-up restriction with respect to 111,736 shares of common stock held by Wendy Johnson, an officer of the company who previously announced her intention to retire on or before December 31, 2021. The waiver for Ms. Johnson will take effect on July 13, 2021 and the shares may be sold on or after such date.  

    This press release is not an offer for sale of the securities in the United States or in any other jurisdiction where such offer is prohibited, and such securities may not be offered or sold in the United States absent registration or an exemption from registration under the United States Securities Act of 1933, as amended.

    About Reneo Pharmaceuticals

    Reneo is a clinical stage pharmaceutical company focused on the development and commercialization of therapies for patients with rare genetic mitochondrial diseases, which are often associated with the inability of mitochondria to produce adenosine triphosphate (ATP). Reneo is developing REN001 to modulate genes critical to metabolism and generation of ATP, which is the primary source of energy for cellular processes. REN001 has been shown to increase transcription of genes involved in mitochondrial function and increase fatty acid oxidation, and may increase production of new mitochondria.

    Contacts:

    Joyce Allaire

    Managing Director

    LifeSci Advisors, LLC

    Vinny Jindal

    Chief Financial Officer

    Reneo Pharmaceuticals, Inc.





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  3. SAN DIEGO, July 07, 2021 (GLOBE NEWSWIRE) -- Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM), a clinical stage pharmaceutical company focused on the development and commercialization of therapies for patients with rare, genetic, mitochondrial diseases, today announced that it will provide a corporate update and participate in one-on-one investor meetings at the Ladenburg Thalmann 2021 Healthcare Conference, to be held virtually on July 13-14, 2021.

    About Reneo Pharmaceuticals

    Reneo is a clinical stage pharmaceutical company focused on the development and commercialization of therapies for patients with rare genetic mitochondrial diseases, which are often associated with the inability of mitochondria to produce adenosine triphosphate (ATP). Reneo…

    SAN DIEGO, July 07, 2021 (GLOBE NEWSWIRE) -- Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM), a clinical stage pharmaceutical company focused on the development and commercialization of therapies for patients with rare, genetic, mitochondrial diseases, today announced that it will provide a corporate update and participate in one-on-one investor meetings at the Ladenburg Thalmann 2021 Healthcare Conference, to be held virtually on July 13-14, 2021.

    About Reneo Pharmaceuticals

    Reneo is a clinical stage pharmaceutical company focused on the development and commercialization of therapies for patients with rare genetic mitochondrial diseases, which are often associated with the inability of mitochondria to produce adenosine triphosphate (ATP). Reneo is developing REN001 to modulate genes critical to metabolism and generation of ATP, which is the primary source of energy for cellular processes. REN001 has been shown to increase transcription of genes involved in mitochondrial function and increase fatty acid oxidation, and may increase production of new mitochondria.

    Contacts:

    Joyce Allaire

    Managing Director

    LifeSci Advisors, LLC

    Vinny Jindal

    Chief Financial Officer

    Reneo Pharmaceuticals, Inc.



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  4. SAN DIEGO, June 29, 2021 (GLOBE NEWSWIRE) -- Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM), a clinical stage pharmaceutical company focused on the development and commercialization of therapies for patients with rare genetic mitochondrial diseases, joined the broad-market Russell 3000 Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the close of the markets on June 28, 2021.

    Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market capitalization…

    SAN DIEGO, June 29, 2021 (GLOBE NEWSWIRE) -- Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM), a clinical stage pharmaceutical company focused on the development and commercialization of therapies for patients with rare genetic mitochondrial diseases, joined the broad-market Russell 3000 Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the close of the markets on June 28, 2021.

    Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market capitalization rankings and style attributes.

    Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell's US indexes, which are part of FTSE Russell, a leading global index provider.

    About Reneo Pharmaceuticals

    Reneo is a clinical stage pharmaceutical company focused on the development and commercialization of therapies for patients with rare genetic mitochondrial diseases, which are often associated with the inability of mitochondria to produce adenosine triphosphate (ATP). Reneo is developing REN001 to modulate genes critical to metabolism and generation of ATP, which is the primary source of energy for cellular processes. REN001 has been shown to increase transcription of genes involved in mitochondrial function and increase fatty acid oxidation and may increase production of new mitochondria.

    About FTSE Russell

    FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.

    FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $17.9 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.

    A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.

    FTSE Russell is wholly owned by London Stock Exchange Group.

    For more information, visit www.ftserussell.com.

    Forward-Looking Statements

    Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding, among other things, the results, conduct, progress and timing of Reneo's clinical trials, and the regulatory approval path for REN001. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "plans," "will," "believes," "anticipates," "expects," "intends," "goal," "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Reneo's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with Reneo's business in general, and the other risks described in Reneo's filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made. Reneo undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

    Contacts

    Joyce Allaire

    Managing Director

    LifeSci Advisors, LLC

    Vinny Jindal

    Chief Financial Officer

    Reneo Pharmaceuticals, Inc.



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  5. SAN DIEGO, May 20, 2021 (GLOBE NEWSWIRE) -- Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM), a clinical stage pharmaceutical company focused on the development and commercialization of therapies for patients with rare genetic, mitochondrial diseases, today reported financial results for the quarter ended March 31, 2021 and provided an update on its clinical programs.

    Key Operational Highlights

    • Initiated the STRIDE study, a global, randomized, double-blind, placebo-controlled Phase 2b clinical trial of REN001 in patients with primary mitochondrial myopathies (PMM)
    • Completed an initial public offering (IPO) of the company's common stock for total gross proceeds of approximately $94 million, before deducting underwriting discounts and commissions…

    SAN DIEGO, May 20, 2021 (GLOBE NEWSWIRE) -- Reneo Pharmaceuticals, Inc. (NASDAQ:RPHM), a clinical stage pharmaceutical company focused on the development and commercialization of therapies for patients with rare genetic, mitochondrial diseases, today reported financial results for the quarter ended March 31, 2021 and provided an update on its clinical programs.

    Key Operational Highlights

    • Initiated the STRIDE study, a global, randomized, double-blind, placebo-controlled Phase 2b clinical trial of REN001 in patients with primary mitochondrial myopathies (PMM)
    • Completed an initial public offering (IPO) of the company's common stock for total gross proceeds of approximately $94 million, before deducting underwriting discounts and commissions and offering expenses
    • Re-initiated enrollment of two open-label Phase 1b clinical trials in patients with long-chain fatty acid oxidation disorder (LC-FAOD) and in patients with glycogen storage disease type V (McArdle disease)
    • Initiated an observational clinical trial in patients with LC-FAOD to better understand changes in disease characteristics over time ("FORWARD" study)
    • Appointed Eric Dube, Ph.D. to the Board of Directors and Vineet R. Jindal as Chief Financial Officer

    Anticipated Upcoming Milestones

    • Enrollment of first patient in the STRIDE study (mid-year 2021)
    • Complete enrollment of Phase 1b trials in LC-FAOD and McArdle disease (2H 2021)
    • Report results from Phase 1b clinical trials in LC-FAOD and McArdle disease (1H 2022)
    • Report results from the FORWARD study (2H 2022)

    "Our team's recent efforts have led to the initiation of four clinical trials, key additions to the Board and management team, and the completion of our initial public offering," said Gregory J. Flesher, President and Chief Executive Officer of Reneo. "With a strengthened capital position, we will continue to advance all of our REN001 clinical programs, as well as explore additional opportunities that will help establish Reneo Pharmaceuticals as a leading developer of drugs for rare diseases."

    Financial Results for the Three Months Ended March 31, 2021

    The company reported a net loss of $7.2 million, or $3.48 per share, for the three months ended March 31, 2021, compared to a net loss of $4.4 million, or $2.20 per share, for the same period in 2020. The company had $91.2 million in cash and cash equivalents as of March 31, 2021, exclusive of the net proceeds of approximately $84.8 million from the IPO.

    Research and development (R&D) expenses were $5.5 million for the three months ended March 31, 2021, compared to $3.6 million for the same period in 2020. The increase of $1.9 million was primarily due to an increase of $1.5 million related to clinical trial costs associated with the launch of our STRIDE and FORWARD studies and $0.4 million in employee and personnel related costs due to additional headcount required to support our clinical and CMC programs.

    General and administrative (G&A) expenses for the three months ended March 31, 2021 were $1.7 million, compared to $0.9 million for the same period in 2020. This increase of $0.8 million was primarily attributable to an increase of $0.8 million in employee and personnel related expenses. 

    About Reneo Pharmaceuticals

    Reneo is a clinical stage pharmaceutical company focused on the development and commercialization of therapies for patients with rare genetic mitochondrial diseases, which are often associated with the inability of mitochondria to produce adenosine triphosphate (ATP). Reneo is developing REN001 to modulate genes critical to metabolism and generation of ATP, which is the primary source of energy for cellular processes. REN001 has been shown to increase transcription of genes involved in mitochondrial function and increase fatty acid oxidation, and may increase production of new mitochondria.

    About REN001

    REN001 is a potent and selective peroxisome proliferator-activated receptor delta (PPARδ) agonist currently in clinical development for three rare genetic mitochondrial diseases that typically present with myopathy and have high unmet medical needs: primary mitochondrial myopathies (PMM), long-chain fatty acid oxidation disorders (LC-FAOD), and glycogen storage disorder type V (McArdle disease). For more information on REN001 clinical trials, please see clinicaltrials.gov.

    About PMM

    PMM are a group of disorders that affect roughly 1 in 5,000 people worldwide. PMM are caused by genetic mutations in the mitochondrial or nuclear DNA that reduce the ability of mitochondria to produce energy from nutrient sources. This energy deficit particularly affects tissues and organs with high energy demand such as muscle, brain, and heart. The symptoms of PMM include muscle weakness or exercise intolerance, movement disorder, deafness, blindness, and droopy eyelids among others. The prognosis for these disorders ranges in severity from progressive weakness to death.

    About STRIDE

    STRIDE is a global, randomized, double-blind, placebo-controlled Phase 2b clinical trial designed to assess the efficacy and safety of 100 mg REN001 administered orally once daily to patients with PMM. Approximately 200 adult PMM patients with alterations in mitochondrial DNA and a history of myopathy are expected to be enrolled into STRIDE. The primary efficacy endpoint of the trial is the change from baseline in the distance walked during a 12-minute walk test after 24 weeks of treatment. Secondary efficacy endpoints include changes from baseline in the Modified Fatigue Impact Scale (MFIS), Patient Global Impression of Change scale (PGIC), and other patient-reported outcomes.

    Forward-Looking Statements

    Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding, among other things, the results, conduct, progress and timing of Reneo's clinical trials, and the regulatory approval path for REN001. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "plans," "will," "believes," "anticipates," "expects," "intends," "goal," "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Reneo's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with Reneo's business in general, and the other risks described in Reneo's filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made. Reneo undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.



    RENEO PHARMACEUTICALS, INC.

    CONDENSED CONSOLIDATED BALANCE SHEETS

    (Unaudited)

    (in thousands, except share and par value data)

         MARCH 31,     DECEMBER 31,  
      2021  2020  
    Assets       
    Current assets:       
    Cash and cash equivalents $91,221  $53,613  
    Prepaid expenses and other current assets  2,339   1,412  
    Total current assets  93,560   55,025  
    Property and equipment, net  81   69  
    Other non-current assets  1,680   127  
    Total assets $95,321  $55,221  
    Liabilities, convertible preferred stock and stockholders' deficit       
    Current liabilities:       
    Accounts payable $556  $908  
    Accrued expenses  3,374   3,672  
    Total current liabilities  3,930   4,580  
    Deferred rent  32   36  
    Total liabilities  3,962   4,616  
    Commitments and contingencies (Note 10)       
    Series A convertible preferred stock, $0.0001 par value; 24,302,472 shares authorized at March 31, 2021 and December 31, 2020; 24,302,472 shares issued and outstanding at March 31, 2021 and December 31, 2020, liquidation preference of $49,127 at March 31, 2021 and December 31, 2020  45,652   45,652  
    Series B convertible preferred stock, $0.0001 par value; 46,881,028 shares authorized at March 31, 2021 and December 31, 2020; 46,881,028 and 23,440,514 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively; liquidation preference of $94,770 and $47,385 as of March 31, 2021 and December 31, 2020, respectively  94,424   47,068  
    Stockholders' deficit:       
    Common stock, $0.0001 par value; 105,000,000 shares authorized at March 31, 2021 and December 31, 2020, 2,148,193 issued and 2,123,733 outstanding at March 31, 2021 and 2,053,070 shares issued and outstanding at December 31, 2020, respectively       
    Additional paid-in capital  3,453   2,843  
    Accumulated deficit  (52,170)  (44,958) 
    Total stockholders' deficit  (48,717)  (42,115) 
    Total liabilities, convertible preferred stock and stockholders' deficit $95,321  $55,221  



    RENEO PHARMACEUTICALS, INC.

    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

    (Unaudited)

    (in thousands, except share and per share data)

      THREE MONTHS ENDED MARCH 31,  
         2021     2020     
    Operating expenses:       
    Research and development $5,472  $3,578  
    General and administrative  1,742   924  
    Total operating expenses  7,214   4,502  
    Loss from operations  (7,214)  (4,502) 
    Other income  2   71  
    Net loss  (7,212)  (4,431) 
    Unrealized gain on short-term investments     6  
    Comprehensive loss $(7,212) $(4,425) 
    Net loss per share attributable to common stockholders, basic and diluted $(3.48) $(2.20) 
    Weighted-average shares used in computing net loss per share, basic and diluted  2,070,935   2,015,029  
              

    RENEO PHARMACEUTICALS, INC.

    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

    (Unaudited)

    (in thousands)

      THREE MONTHS ENDED

     
      MARCH 31, 

     
      2021     2020  
    Cash flows from operating activities        
    Net loss $(7,212) $(4,431) 
    Adjustments to reconcile net loss to net cash used in operating activities:      
    Depreciation and amortization  10   9  
    Amortization/accretion on short-term investments     (15) 
    Stock-based compensation  471   92  
    Changes in operating assets and liabilities:      
    Accounts payable, accrued expenses and other  (927)  36  
    Prepaid expenses and other assets  (929)  (137) 
    Deferred rent  (2)  (1) 
    Net cash used in operating activities  (8,589)  (4,447) 
    Cash flows from investing activities        
    Purchase of property and equipment  (25)  (1) 
    Proceeds from maturities of available-for-sale short-term investments     5,200  
    Net cash (used in) provided by investing activities  (25)  5,199  
    Cash flows from financing activities        
    Proceeds from issuance of Series B convertible preferred stock, net of issuance costs  47,258     
    Proceeds from exercise of stock options  187   26  
    Costs paid in connection with initial public offering  (1,223)    
    Net cash provided by financing activities  46,222   26  
    Net increase in cash and cash equivalents  37,608   778  
    Cash and cash equivalents, beginning of period  53,613   17,501  
    Cash and cash equivalents, end of year of period $91,221  $18,279  
    Supplemental cash flow information:        
    Property and equipment in accounts payable $2  $  
    Unpaid Series B convertible preferred stock issuance costs $19  $  
    Costs incurred in connection with initial public offering included in accrued expenses $361  $  
              

    Contacts:

    Joyce Allaire

    Managing Director

    LifeSci Advisors, LLC

    Vinny Jindal

    Chief Financial Officer

    Reneo Pharmaceuticals, Inc.



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