Benzinga | Aug 5, 2020 07:51AM EDT

Axcella Reports Top-Line Data From AXA1665-002Showing 'dose dependent improvements in markers of cognitive function and amino acid metabolism'

* Top-line data from AXA1665-002 show dose dependent improvements in markers of cognitive function and amino acid metabolism; both AXA1665 doses safe and well tolerated for 12 Weeks; plan to initiate Phase 2 clinical trial under IND in 1H 2021

* Reported positive top-line data for AXA1125, Axcella's NASH product candidate, with clinically relevant reductions in liver fat content, insulin resistance and fibroinflammation; plan to initiate Phase 2b clinical trial under IND in 1H 2021

* Completed follow-on equity offering, raising approximately $60 million in gross proceeds

* Company to hold conference call today at 8:30 a.m. ET