- Axcella Health Inc (NASDAQ:AXLA) announced organizational and program updates, including a reprioritization of its programs for Long COVID Fatigue and Nonalcoholic Steatohepatitis (NASH) and a restructuring of operations.
- Axcella’s Phase 2a trial results demonstrate the potential of AXA1125 for Long COVID fatigue.
- Subjects who received AXA1125 had improvements in mental and physical fatigue measures that were statistically significant and clinically relevant compared to those who received a placebo.
- The company is engaged in ongoing and productive reviews with regulators in the U.S. and Europe, and the company is aiming to advance its Long COVID Fatigue program into a potential registration trial.
- Axcella will discontinue its ongoing Phase 2b trial of AXA1125 in NASH while keeping the option to revisit this program should resource availability change.
- Related: Axcella Shares Jump Despite Mixed Bag Data From Mid-Stage NASH Trial.
- Axcella is reducing its workforce by 85%. Among the departing employees are Bob Crane, Chief Financial Officer, and Virginia Dean, Chief People Officer.
- Axcella reached an agreement with SLR Investment Corp. (f/k/a Solar Capital Ltd) to pay down the debt obligations of the previous agreement.
- The company has initiated a process to explore a range of strategic alternatives. It works with an investment bank as a strategic advisor for this process.
- Price Action: AXLA shares closed at $0.89 on Wednesday.
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