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REATA PHARMACEUTICALS INC

reatapharma.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2023 10-Q, filed Aug 8, 2023. Its latest SEC filing is a 15-12G from Oct 6, 2023.

The sections below describe the company as of the FY2022 annual report.

What Did They Do?

Develops and commercializes small-molecule therapies for patients with severe diseases, including Friedreich’s ataxia and rare kidney diseases.

How Did They Make Money?

Historically, revenue came mainly from upfront and milestone payments under drug-license collaborations and expense reimbursements. Partners may also owe royalties when licensed drugs are sold; some upfront license fees are spread across the agreement term.

FY2022 revenue

Who Were Their Customers?

Drug-company partners license development and commercialization rights; Kyowa Kirin develops bardoxolone in its licensed markets. For products Reata commercializes itself, its planned specialty team targets physicians and uses specialty pharmacies and distribution channels.

Did Revenues Turn Into Profits?

No. It lost $311.9M in FY2022.

Net income, FY2022
−14075% of revenue
▲ +5% (Loss) vs FY2021 (−$297.4M, −2588%)
Free cash flow, FY2022
−9365% of revenue
▼ −12% (Loss) vs FY2021 (−$237M, −2063%)

How Were They Changing?

Since the FY2022 annual report
Latest quarter: Q2 FY2023, the three months to Jun 30, 2023
Revenue
▲ +2885%
vs $762K in Q2 FY2022
Net income
▲ Now profitable
vs −$73.6M in Q2 FY2022
  • Sep 26, 2023 Reata's merger closed, ending its stockholders' rights Stockholders retained only the right to receive merger consideration, and Reata requested Nasdaq delisting.

Shrank. Revenue fell 96% in 4 years, from $53.6M in FY2018 to $2.2M in FY2022, about 55% a year.

Omaveloxolone advanced toward launch Omaveloxolone moved from a planned regulatory filing to an application under review, while Reata prepared a commercial team and distribution setup for a U.S. launch.

Bardoxolone's Alport path stalled After planning a U.S. filing following trial results, Reata reported that the U.S. regulator could not approve bardoxolone's application in its current form and withdrew the European application.

Who Did They Compete With?

Competes with PTC Therapeutics, Minoryx Therapeutics, MetroBiotech, Jupiter Neurosciences, Stealth BioTherapeutics, Larimar Therapeutics, Design Therapeutics, Lexeo Therapeutics, Biohaven Pharmaceutical Holding, Medtronic, Abbott, Nevro, DyAnsys, Daiichi Sankyo, Helixmith, Sichuan Haisco Pharmaceutical, Lexicon Pharmaceuticals, AstraZeneca, Mitsubishi Tanabe Pharma, and Pure Green Pharmaceuticals

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