aibioRein Therapeutics delays 10-K, expects $37.0 million impairment on LTI-01
Tickers RNTX
The impairment follows a temporary delay of further clinical work on LTI-01. The company, formerly Aileron Therapeutics, needs more time to finish its impairment assessment.
Key facts
- Company
- Rein Therapeutics, Inc. (NASDAQ: RNTX)
- News type
- Distress
- Primary source
- Rein Therapeutics, Inc. NT 10-K (2025-03-31)
Rein Therapeutics, Inc. (Nasdaq: RNTX), formerly Aileron Therapeutics, Inc., said it cannot file its annual report on Form 10-K for the fiscal year ended December 31, 2024 on time without unreasonable effort or expense.
In a late filing notice dated March 31, 2025, the Austin, Texas company said it needs more time to complete certain processes. Those include finishing its assessment of impairment losses on intangible assets for 2024.
Rein expects its 2024 results to include an impairment loss on intangible assets of approximately $37.0 million. An impairment is a write-down that cuts the value an asset carries on the balance sheet. The company said the charge is tied to the temporary delay of further clinical development of LTI-01, its product candidate for patients with loculated pleural effusion.
The company said it did not incur an impairment loss on intangible assets during the year ended December 31, 2023.
Rein said it has filed all other periodic reports required during the preceding 12 months.