Bellerophon Therapeutics, Inc. (NASDAQ:BLPH) has announced on Monday that it can finally commence a Phase 2 study evaluating the ability of its proprietary pulsatile nitric oxide (NO) delivery device that, INOpulse, to treat pulmonary hypertension in chronic obstructive pulmonary disease (PH-COPD) after receiving an approval in Belgium.
Phase 2 Study
The approval came after Bellerophon Therapeutics has shown from its Phase 2a study that INOpulse has an efficient safety and efficacy data for treating PH-COPD. The latest findings demonstrate that INOpulse can minimize PH among those who suffer from COPD. The device can also enhance the blood volume within the lungs of patients.
The Phase 2 study will begin this third quarter and its conclusion will likely transpire before the year ends. 10 PH-COPD patients will be enrolled for the clinical trial.
Nearly 12 million people in the US have COPD, 700,000 of whom are suffering from PH-COPD. According to Bellerophon Therapeutics, PH-COPD patients are generally affected by a four-year median life expectancy. Moreover, they are faced with greater challenges since there are no approved treatments for their condition yet. Jonathan Peacock, Bellerophon Therapeutics Chairman and CEO, hopefully noted that the company is doing its best to finally arrive with a safe and effective therapy for these patients by the end of 2016.
Q1 Financial Highlights
Last May, Bellerophon Therapeutics issued its earnings report for the first quarter. For the period, the company underscored a year-over-year decline of 45% in net loss, coming in at $7.10 million from a whopping $12.90 million.
Research and Development (R&D) costs for the first quarter were seen in $5.10 million, posting a 46% decline from the $9.50 million recorded during the same period last year. General and Administrative (G&A) costs also tumbled almost 60% year-over-year to $2 million from $4.60 million.
During the first quarter, there were also some changes in the company’s management. Fabian Tenenbaum was named as the new Chief Financial Officer (CFO) and Chief Business Officer (CBO) while Mary Ann Cloyd was appointed as the new Independent Director and Chair of the Board’s Audit Committee.