Bellerophon Reports Third Quarter 2016 Financial Results And Provides Business Update

WARREN, N.J., Nov. 08, 2016 (GLOBE NEWSWIRE) -- Bellerophon Therapeutics, Inc. (Nasdaq:BLPH), a clinical-stage biotherapeutics company, today reported financial results for the third quarter ended September 30, 2016 and provided a business update.

"Overall, I am pleased to report good progress in our ongoing Phase 3 clinical trial to treat Pulmonary Arterial Hypertension (PAH), under an FDA-granted Special Protocol Assessment," stated Jonathan Peacock, Chairman and Chief Executive Officer of Bellerophon Therapeutics. "We continue to initiate more sites and we are targeting to announce results in mid-2018.  The Company also intends to take an interim look at the data through its data monitoring committee, currently planned by the end of the fourth quarter of 2017.

"Our Phase 2 trials for INOpulse therapy to treat pulmonary hypertension (PH) associated with chronic obstructive pulmonary disease (PH-COPD) and idiopathic pulmonary fibrosis (PH-IPF) have been initiated and are actively recruiting. We look forward to communicating results of each during the first quarter of 2017.

"Overall, we believe our proprietary INOpulse delivery technology is uniquely positioned to help these significant patient populations in areas of serious and unmet medical need," concluded Mr. Peacock.

  Key Highlights in the Third Quarter and Subsequent Weeks Included:
  • The INOvation-1 PAH Phase 3 clinical trial is targeting topline results in mid-2018 and an interim look by the end of the fourth quarter of 2017.
  • Terence K. Trow, MD, Associate Professor of Medicine, Yale Pulmonary Vascular Disease Program, presented "Continuous inhaled NO in the management of PAH" including Bellerophon INOpulse data and the INOvation-1 Phase 3 trial at the Annual meeting of the American College of Chest Physicians; October 2016.
  • The PH-COPD Phase 2 trial is actively recruiting patients with Belgian Health Authority approval following results from the Company's previous Phase 2a study and proof of mechanism work indicating that INOpulse could be both safe and effective in PH-COPD.
  • In July, the Company announced the publication of results of a trial conducted by the Department of Respiratory Medicine at the University Hospital Antwerp, by Professor W. De Backer, MD and Bellerophon, in the peer-reviewed  International Journal of COPD (Hajian et al., Pulmonary vascular effects of pulsed inhaled nitric oxide in COPD patients with pulmonary hypertension,  International Journal of COPD, 2016, 11:1533-1541).
  • During the quarter, the Company announced a succession plan in which Fabian Tenenbaum, current Chief Financial Officer and Chief Business Officer, will assume the position of Chief Executive Officer, succeeding Jonathan Peacock, who will retain his position as Chairman of the Board and remain actively involved. The transition is expected to be completed by the end of the year.

Third Quarter 2016 Financial Results

For the third quarter ended September 30, 2016, Bellerophon reduced its net loss to $4.2 million, from $11.1 million in the third quarter of 2015.

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