By Connor Hart

Shares of Astria Therapeutics climbed after the biopharmaceutical company provided an update on its in-development therapies and reported first-quarter results.

The stock rose 9%, to $4.25, in after-hours trading. Through Tuesday's close, shares have lost nearly 60% of their value in the past year.

Astria said after the bell that it is currently enrolling patients in a Phase 3 trial of navenibart in people with hereditary angioedema, a genetic condition that causes recurring episodes of severe swelling in the face, limbs and airways.

Top-line results from the trial are expected in early 2027. The new trial follows what the company called positive final top-line results from a Phase 1b/2 trial of the drug, which were disclosed in December.

Astria is also developing STAR-0310 as a treatment for atopic dermatitis, or atopic eczema, which causes dry, itchy and inflamed skin. The company said it initiated a Phase 1a clinical trial of the treatment in January, results from which are expected to be disclosed during the third quarter.

These updates came as Astria reported cash, cash equivalents and short-term investments of $295.1 million as of March 31, down from $328.1 million a quarter earlier. These holdings are expected to fund its operations into mid-2027, the company said.

Research and development expenses increased to $27.8 million during the recent quarter, compared with $15.7 million a year earlier. General and administrative expenses climbed to $9.2 million from $8.4 million over the same period.

Astria's net loss widened to $33.7 million, or 58 cents a share, from a loss of $19.9 million, or 38 cents a share, in the same quarter last year.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

May 13, 2025 17:58 ET (21:58 GMT)

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