Third Harmonic Bio, Inc. develops pharmaceutical products for the treatment of allergic and immune diseases and disorders. It focuses on the development of the next wave of medicine for the treatment of allergic and inflammatory diseases. The company was founded on April 25, 2019 and is headquartered in San Francisco, CA.
Clinical Trials
8
1 active
Approvals
0
Total approvals
Agencies
0
Regulatory bodies
Founded
2019
Completed
6
75.0%
Not yet recruiting
1
12.5%
Terminated
1
12.5%
No approval data available
- Elevation Oncology has agreed to be acquired by Concentra Biosciences, controlled by hedge fund Tang Capital Partners, for $0.36 per share in cash with additional contingent value rights. - The acquisition represents the latest example of investment firms targeting struggling biotech "zombies" worth less than their cash reserves for liquidation rather than strategic repositioning. - Elevation's lead cancer drug disappointed in clinical testing, forcing the company to shelve its program, lay off most staff, and trade below $1 per share for nearly a year. - The deal follows Tang Capital's previous acquisitions of struggling biotechs including Allakos, Jounce Therapeutics, and Kronos Bio through its liquidation-focused investment strategy.
- Biotech funding dropped 57% to $2.7 billion in May 2025, marking one of the worst funding periods in three years according to Jefferies investment bank analysis. - Trump administration policies including FDA mass layoffs, proposed NIH budget cuts, and unclear drug pricing plans have created significant uncertainty among biotech investors. - Public biotech companies raised only $1.1 billion in May while burning through approximately $4.5 billion monthly on average, creating a dangerous cash flow gap. - Several biotech companies including iTeos and Third Harmonic Bio have announced plans to liquidate assets and shut down operations due to the challenging funding environment.
- Third Harmonic Bio stockholders overwhelmingly approved a liquidation and dissolution plan with 99.9% of voting shares supporting the proposal at the June 5, 2025 annual meeting. - The company's oral KIT inhibitor THB335 demonstrated an 85% mean reduction in serum tryptase with encouraging safety profile in a Phase 1 cohort evaluating 100mg daily dosing. - Initial distribution to stockholders is expected between $5.30-$5.35 per share in Q3 2025, with the company initiating a sale process for THB335 and related intellectual property. - The biotech joins other companies choosing dissolution over continued operations after clinical setbacks, with analysts noting this approach may better serve investor interests than prolonged "zombie" status.
- Third Harmonic Bio's Phase 1 trial of THB335, a selective KIT inhibitor, demonstrated favorable safety profile and pharmacokinetics supporting once-daily dosing in healthy volunteers. - The drug achieved significant dose-dependent reductions in serum tryptase levels, ranging from 13% to 84%, indicating potential clinical benefit for chronic spontaneous urticaria treatment. - The company plans to advance THB335 to Phase 2 trials by mid-2025, while conducting a parallel strategic review to maximize shareholder value.
- Blueprint Medicines reports promising Phase 1 data for BLU-808, demonstrating favorable pharmacokinetics supporting once-daily dosing in healthy volunteers. - Jefferies analyst reduces Third Harmonic Bio's price target by 53% following competitive data showing BLU-808's superior potency compared to THB001. - BLU-808 exhibits dose-dependent serum tryptase reduction comparable to THB001, potentially reshaping the landscape for oral wild type KIT inhibitor development.
- Third Harmonic Bio appointed Geoff McDonough, M.D., to its Board of Directors, enhancing its leadership with extensive clinical and commercial experience. - The appointment supports the advancement of THB335, Third Harmonic Bio's lead product candidate, into clinical trials for chronic spontaneous urticaria. - Geoff McDonough's expertise and cultural alignment are expected to significantly benefit Third Harmonic Bio's strategic and operational initiatives.
