Board Change • May 21
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 2 experienced directors. 5 highly experienced directors. Non-Executive Chairman Andy Richards is the most experienced director on the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Apr 29
Arecor Therapeutics plc, Annual General Meeting, May 28, 2026 Arecor Therapeutics plc, Annual General Meeting, May 28, 2026. Location: the offices of covington and burling llp, 22 bishopsgate, ec2n 4bq, london United Kingdom Announcement • Mar 30
Arecor Therapeutics plc to Report Fiscal Year 2025 Results on Apr 13, 2026 Arecor Therapeutics plc announced that they will report fiscal year 2025 results at 8:00 AM, GMT Standard Time on Apr 13, 2026 Announcement • Sep 24
Arecor Therapeutics plc to Report First Half, 2025 Results on Sep 25, 2025 Arecor Therapeutics plc announced that they will report first half, 2025 results on Sep 25, 2025 Announcement • Jul 16
Arecor Establishes New Scientific Advisory Board Arecor Therapeutics plc announced the formation of its new Scientific Advisory Board of internationally recognised experts in the fields of oral drug delivery and peptide therapeutics. Members of the Arecor Scientific Advisory Board include: David Brayden, PhD, is a Full Professor of Advanced Drug Delivery at the School of Veterinary Medicine, University College Dublin (UCD) and a Senior Fellow of the UCD Conway Institute. His research focuses on oral peptide delivery and nanomedicines, with over 300 research publications and 12 patents in these areas. He is an elected Fellow of both the Controlled Release Society and the American Association of Pharmaceutical Scientists, and is an elected member of the Royal Irish Academy. Dr. Brayden is co-lead PI on the Research Ireland Centre for Medical Devices (CURAM) and current coordinator of BUCCAL-PEP, an EU Horizon Europe grant on buccal administration of peptides. He serves as Chief Editor of "Frontiers in Drug Delivery" and was appointed by Ireland's Minister of Health as Chairperson to the National Research Ethics Committees on Clinical Trials (D). Dr. Brayden obtained his PhD from the University of Cambridge, followed by a postdoctoral fellowship at Stanford University, CA, USA, before spending 10 years at Elan Biotechnology Research. Randy Mrsny, PhD, is Professor of Drug Delivery at the University of Bath, where his research examines mechanisms controlling trans-epithelial migration and tight junction regulation, as well as the fate of biopharmaceuticals in subcutaneous and intramuscular spaces. He was the Founder and Chief Scientific Officer of Applied Molecular Transport (now Cyclo Therapeutics), which directed the advancement of technology utilising endogenous pathways for efficient epithelial transcytosis. His career includes leadership roles at ALZA Corporation, Genentech, and as founder of Trinity BioSystems and Unity Pharmaceuticals. Dr Mrsny has served as President of the Controlled Release Society, been selected to its College of Fellows, and received its Founders Award. He was selected for the Medicine Maker 100 power list in 2015 and 2016. Dr. Mrsny has a BSc in Biochemistry and Biophysics from the University of California and a PhD in Human Anatomy and Cell Biology from the UCD School of Medicine. Christopher Porter, PhD, is Director of the Monash Institute of Pharmaceutical Sciences (MIPS) at Monash University, with research focused on the absorption distribution and elimination profiles of drugs, as well as developing novel formulation approaches to optimise these profiles. He has published over 270 peer reviewed papers, his research programmes have attracted over $35m in funding, and is an inventor on more than 15 separate patent families. He is a Clarivate Analytics highly cited researcher, a fellow of the American Association of Pharmaceutical Scientists and an Editorial Board member for Molecular Pharmaceutics, Pharmaceutical Research and the Journal of Pharmaceutical Sciences. Dr. Porter obtained his BPharm and PhD in Pharmaceutics from the University of Nottingham. Announcement • May 07
Arecor Therapeutics plc, Annual General Meeting, Jun 02, 2025 Arecor Therapeutics plc, Annual General Meeting, Jun 02, 2025. Location: the offices of covington and burling llp, 22 bishopsgate, ec2n 4bq, london United Kingdom Announcement • Apr 10
Arecor Therapeutics plc to Report Fiscal Year 2024 Final Results on Apr 22, 2025 Arecor Therapeutics plc announced that they will report fiscal year 2024 final results at 8:00 AM, GMT Standard Time on Apr 22, 2025 Announcement • Nov 19
Arecor Therapeutics plc Appoints David Ellam as Interim Chief Financial Officer Arecor Therapeutics plc announced the appointment of David Ellam as Interim Chief Financial Officer (CFO), effective immediately. David is an experienced finance professional and chartered accountant, with over two decades of experience in the life sciences industry. He has held CFO roles at numerous healthcare companies including Juvenescence, Silence Therapeutics and, more recently, Sixfold Bioscience. Early in his career, he qualified as an accountant at PwC, transitioning to a variety of financial and internal audit roles at companies including Smith & Nephew. Reported Earnings • Sep 27
First half 2024 earnings released: UK£0.15 loss per share (vs UK£0.15 loss in 1H 2023) First half 2024 results: UK£0.15 loss per share (further deteriorated from UK£0.15 loss in 1H 2023). Revenue: UK£2.00m (up 20% from 1H 2023). Net loss: UK£4.64m (loss widened 2.5% from 1H 2023). Revenue is forecast to grow 35% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Biotechs industry in Europe. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 36% per year, which means it is performing significantly worse than earnings. Announcement • Sep 11
Arecor Therapeutics plc Presents Positive Data from Phase I Clinical Trial of Ultra-Concentrated, Ultra-Rapid Acting Insulins Arecor Therapeutics plc presents positive results from its Phase I clinical trial of the ultra-concentrated, ultra-rapid acting insulin candidate, AT278, in Type 2 diabetics with a high body mass index (BMI), at the 60th Annual Meeting of the European Association for the Study of Diabetes (EASD) in Madrid. AT278 (500 U/mL) is an ultra-concentrated, Ultra-rapid acting, novel formulation of insulin that accelerates the absorption of insulin post injection, even when delivered at a high concentration, and hence a lower injection volume. With no concentrated (>200 U/mL), rapid acting insulins on the market, AT278 has potential to be the first, and only, insulin available to the growing number of patients with high daily insulin requirements and to be a critical enabler of next-generation miniaturised and longer wear insulin pumps. In the double-blind, randomised, two-way crossover study, the pharmacokinetic (PK)/pharmacodynamic (PD) and safety profiles of a single subcutaneous (SC) dose of 0.5 U/kg AT278 (500 U/mL) were compared with those of a single SC dose of 0.5 U/kg NovoRapid® (100 U/mL), a currently available gold standard, rapid acting insulin, in 41 participants with Type 2 diabetes and a median BMI of 29.7 kg/m2. The trial was conducted in a glucose clamp setting at the Medical University of Graz and Joanneum Research in Austria, an internationally recognised centre of excellence in the field of diabetes research. The PK/PD profile for AT278 was accelerated compared withNovoRapid®. AT278 demonstrated a 1.7-fold (95% CI 1.32; 2.96) higher glucose-lowering effect within the first 60 minutes which was statistically superior toNovoRapid®(p< 0.0001). The glucose-lowering effect remained higher up to 2 hours post-dosing (treatment ratio [95% CI] 1.19 [1.02; 1.39]). AT278 showed a faster onset of glucose-lowering effect, with a 5-minute earlier onset of action and 25-minute earlier tEarly50% GIRmax thanNovoRapid®. It also showed a faster onset of insulin exposure compared with NovoRapid, witha 5-minute faster insulin appearance and 24-minute faster tEarly50% Cmax.Insulin exposure with AT278 was 1.5-fold higher within the first 60 minutes(95% CI 1.28; 1.71). The superior early glucose-lowering effect of AT278 was maintained when the population was divided into BMI subgroups. Both insulins were well tolerated. Adverse events were mostly mild to moderate and not related to the study drugs. Arecor is continuing to explore funding options for AT278, including but not limited to co-development arrangements, to conduct a clinical pump study to further demonstrate the potential of AT278 to disrupt the market by enabling the next generation of truly miniaturised, longer-wear insulin pumps, a key focus for patients, physicians and the industry. Announcement • Aug 02
Arecor Therapeutics plc to Report Q2, 2024 Results on Sep 23, 2024 Arecor Therapeutics plc announced that they will report Q2, 2024 results on Sep 23, 2024 New Risk • Jul 30
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 23% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 30% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (23% increase in shares outstanding). Market cap is less than US$100m (€41.4m market cap, or US$44.9m). Announcement • Jul 24
Arecor Therapeutics plc has completed a Follow-on Equity Offering in the amount of £6.416654 million. Arecor Therapeutics plc has completed a Follow-on Equity Offering in the amount of £6.416654 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 6,955,847
Price\Range: £0.9
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 173,768
Price\Range: £0.9
Transaction Features: Regulation S; Subsequent Direct Listing New Risk • Jul 08
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.8% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings are forecast to decline by an average of 1.8% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (UK£3.8m net loss in 2 years). Market cap is less than US$100m (€42.6m market cap, or US$46.1m). Board Change • Jun 19
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Chris Soden was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Jun 08
Arecor Therapeutics plc, Annual General Meeting, Jun 28, 2024 Arecor Therapeutics plc, Annual General Meeting, Jun 28, 2024. Location: the offices of covington and burling llp, 22 bishopsgate, ec2n 4bq, london United Kingdom Announcement • May 23
Arecor Therapeutics plc Announces Its Ultra-Concentrated, Ultra-Rapid Acting Insulins Arecor Therapeutics plc announced that its ultra-concentrated, ultra-rapid acting insulin candidate, AT278, met all primary and secondary endpoints, and also demonstrated superiority to NovoRapid and Humulin R U-500, in a Phase I clinical trial in Type 2 diabetics with a high body mass index (BMI). AT278 (500 U/mL) is an ultra-concentrated, Ultra-rapid acting, novel formulation of insulin that accelerates the absorption of insulin post injection, even when delivered at a high concentration, and hence a lower injection volume. With no concentrated (>200 U/mL), rapid acting insulins on the market, AT278 has potential to be the first, and only, insulin available to the growing number of patients with high daily insulin requirements. In the double-blind, randomised, two-way crossover study, the pharmacokinetic (PK)/pharmacodynamic (PD) and safety profiles of a single subcutaneous (SC) dose of 0.5 U/kg AT278 (500 U/mL) were compared with those of a single SC dose of 0.5 U/kg NovoRapid (100 U/mL), a currently available gold standard, rapid acting insulin treatment, in 39 participants with Type 2 diabetes within a BMI range of 25 and 39 kg/m2, in a euglycemic clamp setting. The PK/PD profile of 0.5 U/kg AT278 (500 U/mL) was also compared to a single SC dose of 0.5U/kg HumulinR U-500 (500 U/mL) in an open label manner. The trial met the primary endpoint of non-inferiority with respect to glucose lowering actions compared with NovoRapid.AT278 (500 U/mL) demonstrated a significantly accelerated (superior) early PK/PD profile compared to NovoRapid (100 U/mL), despite a 5-fold increase in concentration .AT278 (500 U/mL) demonstrated a significantly accelerated (superior) PK/PD profile compared to Humulin® R U-500 (500 U/mL), the only other insulin available at a concentration of 500 U/mL No safety signals were detected. Reported Earnings • May 17
Full year 2023 earnings released: UK£0.28 loss per share (vs UK£0.32 loss in FY 2022) Full year 2023 results: UK£0.28 loss per share (improved from UK£0.32 loss in FY 2022). Revenue: UK£4.57m (up 90% from FY 2022). Net loss: UK£8.55m (loss narrowed 7.6% from FY 2022). Revenue is forecast to grow 35% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Biotechs industry in Europe. New Risk • May 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Currently unprofitable and not forecast to become profitable over next 3 years (UK£2.1m net loss in 3 years). Revenue is less than US$5m (UK£3.4m revenue, or US$4.3m). Market cap is less than US$100m (€48.7m market cap, or US$53.0m). Announcement • Apr 30
Arecor Therapeutics plc to Report Fiscal Year 2023 Results on May 07, 2024 Arecor Therapeutics plc announced that they will report fiscal year 2023 results on May 07, 2024 Announcement • Apr 24
Arecor Therapeutics plc Announces Stepping Down of Susan Lowther as Company Secretary and as A Board Director, Effective from July 22,2024 Arecor Therapeutics plc announced that Susan Lowther has decided to step down from her role as Company Secretary and as a Board Director, to pursue new opportunities. A search for Susan's successor is underway and her last day with Arecor is expected to be on the 22 July, to ensure an effective handover. Announcement • Oct 05
Arecor Therapeutics plc Provides Update on Progress of Second Phase I Clinical Study of Ultra-rapid, Ultra-Concentrated Insulin Candidate AT278 Arecor Therapeutics plc announced that, in line with the update provided within its Interim Results on 14 September, the Group has taken the decision to increase the number of subjects within its ongoing Phase I clinical trial of ultra-rapid, ultra-concentrated insulin candidate AT278. The increase in the number of subjects within the study, from 32 to 42, will increase the power of the study and, in turn, increase the value of the results for patients with high insulin needs. Results are expected in early 2024. The trial is a double blind, randomized, crossover study comparing the pharmacokinetic (PK) and pharmacodynamic (PD) profile following a single subcutaneous dose of 0.5 U/Kg of AT278 (500 U/mL) with NovoRapid® (100 U/mL) in 42 people with Type 2 diabetes in a euglycemic clamp setting. In addition, the PK/PD profile following a single subcutaneous dose of 0.5 U/Kg Humulin-R U500® will be evaluated in each of the participants. Reported Earnings • Sep 17
First half 2023 earnings released: UK£0.15 loss per share (vs UK£0.16 loss in 1H 2022) First half 2023 results: UK£0.15 loss per share. Revenue: UK£1.67m (up 141% from 1H 2022). Net loss: UK£4.53m (loss widened 3.7% from 1H 2022). Revenue is forecast to grow 54% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Biotechs industry in Germany. New Risk • Sep 15
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -UK£11m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Minor Risks Less than 1 year of cash runway based on current free cash flow (-UK£11m). Currently unprofitable and not forecast to become profitable over next 2 years (UK£4.0m net loss in 2 years). Revenue is less than US$5m (UK£3.4m revenue, or US$4.2m). Market cap is less than US$100m (€66.7m market cap, or US$71.1m). Announcement • Aug 10
Arecor Therapeutics plc to Report First Half, 2023 Results on Sep 14, 2023 Arecor Therapeutics plc announced that they will report first half, 2023 results on Sep 14, 2023 Announcement • May 06
Arecor Therapeutics plc, Annual General Meeting, Jun 09, 2023 Arecor Therapeutics plc, Annual General Meeting, Jun 09, 2023, at 08:30 Coordinated Universal Time. Location: Covington & Burling LLP, 22 Bishopsgate, London EC2N 4BQ London United Kingdom Reported Earnings • Apr 20
Full year 2022 earnings released: UK£0.32 loss per share (vs UK£0.27 loss in FY 2021) Full year 2022 results: UK£0.32 loss per share (further deteriorated from UK£0.27 loss in FY 2021). Revenue: UK£2.40m (up 108% from FY 2021). Net loss: UK£9.26m (loss widened 50% from FY 2021). Revenue is forecast to grow 54% p.a. on average during the next 2 years, compared to a 21% growth forecast for the Biotechs industry in Germany. Announcement • Jan 30
Aarecor Therapeutics plc Announces Publication of Phase I Data for AT278 in Diabetes Care Arecor Therapeutics plc announced that the American Diabetes Association journal, Diabetes Care, has published data from the Company's Phase I clinical trial of AT278, its ultra-concentrated (500 U/mL), ultra-rapid acting insulin product candidate. The manuscript, titled 'Pharmacokinetics and Pharmacodynamics of a Novel U500 Insulin Aspart Formulation: A Randomized, Double-Blind, Crossover Study in People with Type 1 Diabetes', is now available online. In the Phase I clinical study in people with Type I diabetes, AT278 (500 U/mL) clearly demonstrated faster insulin absorption with an accelerated pharmacokinetic (PK) and pharmacodynamic (PD) profile compared to gold-standard insulin NovoRapid® (100 U/mL) despite a 5-fold increase in concentration. AT278 is an ultra-concentrated (500 U/mL) novel formulation of insulin that has been designed to accelerate the absorption of insulin post injection, even when delivered at a high concentration, and hence via a lower injection volume. Currently, there are no concentrated (>200 U/mL) rapid acting insulin products on the market, and therefore, AT278 has the potential to be the first such product available to patients. It has the potential to enable more effective management of blood glucose levels to the increasing number of people with diabetes with high daily insulin requirements (>200 units/day) whilst maintaining the convenience and compliance benefits of being able to deliver these high insulin doses in a lower injection volume via a single injection. In addition, a truly rapid acting concentrated insulin is also a critical step towards the advancement and miniaturisation of the next generation of insulin delivery devices. AT278 is also currently being investigated in a second Phase I trial in patients with Type 2 diabetes, to further explore the product's potential to disrupt the market as the first concentrated, yet rapid acting, insulin. The study initiated earlier this month and is expected to complete within fourth quarter of 2023. Announcement • Nov 22
Arecor Therapeutics plc Commences Second Clinical Trial with At278 Ultra-Concentrated Ultra-Rapid Acting Insulin Candidate for Type 2 Diabetes Arecor Therapeutics plc announced the BASG (Bundesamt für Sicherheit im Gesundheitswesen)clearance of the Group's Clinical Trial Application (CTA) for AT278, an ultra-rapid acting, ultra-concentrated (500 U/mL) insulin candidate, in Type 2 diabetic patients, the primary target population. The approval of the CTA means that Arecor may now initiate the second Phase I clinical trial for AT278, to further explore the potential for AT278 to disrupt the market for insulin treatment, as the first concentrated, yet rapid acting insulin. AT278 has previously demonstrated a faster insulin absorption with an accelerated Pharmacokinetic (PK) and Pharmacodynamic (PD) profile compared to the lower concentration NovoRapid® (100 U/mL) in aPhase I clinical study in Type 1 diabetic patients. This type 2 diabetes trial will also focus on exploring the PK/PD profile of AT278 compared with NovoRapid® (100 U/mL), as well as Humulin-R U500®. The trial is a double blind, randomised, crossover study comparing the PK/PD profile following a single subcutaneous dose of 0.5 U/Kg of AT278 (500 U/mL) with NovoRapid® (100 U/mL) in 32 people with Type 2 diabetes in a euglycemic clamp setting. In addition, the PK/PD profile following a single subcutaneous dose of 0.5 U/Kg Humulin-R U500® will be evaluated in each of the participants. The trial will be conducted at the Medical University of Graz, Austria, an expert clinical research facility in metabolic diseases research and euglycaemic clamp methodology, with Professor Thomas Pieber as the trial's Principal Investigator. This trial is expected to initiate within 2022 and complete within Fourth Quarter 2023. Board Change • Nov 21
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Chris Soden was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 11
Arecor Therapeutics plc Announces Headline Results from Phase I Trial of AT247 Arecor Therapeutics plc announced headline results from the second Phase I clinical trial of its ultra-rapid acting insulin, AT247, which support its potential to facilitate a fully closed loop artificial pancreas. AT247 is a 100U/mL ultra-rapid acting novel formulation of insulin that has been designed to accelerate the absorption of insulin post injection. The superiorpharmacokinetics /pharmacodynamics (PK/PD)profile of a single dose of AT247 compared with gold standard insulins NovoLog® and Fiasp® has been previously demonstrated in a Phase I study. This second clinical study further confirms that AT247 has a superior PK profile compared with NovoLog® and Fiasp®, showing a statistically significant difference meeting the trial's co-primary endpoint. AT247 also demonstrated a statistically superior early glucose lowering effect in the trial's second primary endpoint compared with NovoLog® which was calculated from baseline corrected Incremental AUC GIR (Glucose Infusion rate) 0-60min (mg/kg) during post-hoc analysis. In addition, AT247 demonstrated a similar glucose lowering profile to Fiasp®, however it did not meet superiority for this endpoint within this study. The trial further demonstrated that AT247 can be safely and effectively delivered via continuous SC infusion using an insulin pump. With a superior PK profile and promising PD results, this study supports the potential that AT247 can enable even more effective disease management for people with Type I diabetes using fully automated delivery of insulin via a pump in closed loop mode. the double-blind, randomised, three-way cross over Phase I clinical study in 24 male and female participants with Type I diabetes, the pharmacokinetics (PK) and pharmacodynamics (PD) and safety of AT247 were compared with those of NovoLog® and Fiasp®, currently available rapid acting insulin treatments, when delivered over 3 days by insulin pump. In this cross over study the PK/PD profiles following a s.c. bolus dose of 0.15 U/Kg AT247, NovoLog® and Fiasp®, delivered by insulin pump, were compared in a euglycemic clamp setting. The basal rate of insulin dosing was set at 0.02 U/Kg/Hr during the clamp period. No safety signals were detected. Detailed data from the trial will be submitted for presentation at a future international diabetes conference. Announcement • Sep 21
Arecor Therapeutics plc Presents Positive Data for At278 at Easd Arecor Therapeutics plc presented positive results from the Phase I clinical trial of its ultra-rapid acting, ultra-concentrated insulin product candidate, AT278, at the European Association for the Study of Diabetes (EASD) Annual Meeting. The abstract, "Phase I study investigating PK and PD of highly-concentrated insulin aspart AT278 U500",is being presented as part of the Short Oral Discussion Session A, "How complicated is type 1 diabetes?" (11:45-12:45 CEST). AT278 is Arecor's ultra-concentrated (500 U/mL), ultra-rapid acting insulin candidate, formulated using the Company's ArestatTM technology and designed to significantly accelerate insulin absorption post injection to enable more effective and convenient management of blood glucose levels in people with high daily insulin requirements. In the double-blind, randomised, single dose, two-period cross over Phase I clinical study (EudraCT:2020-002033-15) the pharmacokinetic (PK) and pharmacodynamic (PD) profile of AT278 was compared to NovoRapid®, the current gold standard treatment, in 38 patients with type 1 diabetes. The trial was conducted in a glucose clamp setting at the Medical University of Graz and Joanneum Research in Austria, an internationally recognised centre of excellence in the field of diabetes research. The PK/PD profile for AT278 was accelerated compared with NovoRapid®. Following dosing, AT278 showed a faster onset of insulin exposure compared with NovoRapid®, as demonstrated by an earlier onset of appearance (-6.0 min, P<0.0001), earliertEarly50%Cmax(-23.0 min, P<0.0001)and 4.0 times higher AUCInsulin,0-30min (95% CI: 3.29; 4.90). AT278 also showed a more rapid onset of glucose-lowering effect compared with NovoRapid®as demonstrated by an earlier onset of action (-9.5 min, P<0.0001) and earlier tEarly50%GIRmax (-20.0 min, P<0.0001). Overall insulin exposure and glucose-lowering effect were comparable between both insulins (AUCInsulin,0-8h treatment ratio 0.98 [95% CI: 0.92; 1.00]; AUCGIR,0-8h treatment ratio 1.02 [95% CI: 0.95; 1.09]). All reported adverse events were mild in intensity and no safety signals were detected. A further clinical trial of AT278, in people living with type 2 diabetes, is expected to be initiated later this year. The randomised, double-blind Phase I study in obese type 2 diabetes patients will recruit approximately 28 adult patients with each receiving one subcutaneous dose (0.5 U/kg) of AT278, NovoRapid® and Humulin® R U 500 in three separate treatment periods. The PK/PD profile will be measured in each treatment period in a glycemic clamp setting. Board Change • Aug 05
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Chris Soden was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. 
