Stealth BioTherapeutics (MITO) Reports In-Line Q3 EPS

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Stealth BioTherapeutics (MITO) Announces Development Financing To Advance Elamipretide Clinical Trials

November 4, 2020 5:26 PM EST

Stealth BioTherapeutics Corp (Nasdaq: MITO), a clinical-stage biotechnology company focused on the discovery, development and commercialization of novel therapies for diseases involving mitochondrial dysfunction, today announced the first closing under a Development Funding Agreement to support the clinical development of elamipretide.

Stealth received $20 million and is expected to receive up to an additional $15 million from Morningside Ventures contingent on near-term clinical milestones associated with Stealth's geographic atrophy and Barth syndrome development programs.... More