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eFFECTOR Therapeutics Reports Third Quarter 2023 Financial Results and Provides Corporate Update

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Monday, November 13, 2023
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SOLANA BEACH, Calif. and REDWOOD CITY, Calif., Nov. 13, 2023 (GLOBE NEWSWIRE) -- eFFECTOR Therapeutics, Inc. (NASDAQ: EFTR), a leader in the development of selective translation regulator inhibitors (STRIs) for the treatment of cancer, today reported financial results for the third quarter ended September 30, 2023 and provided a corporate update.

Key Points: 
  • SOLANA BEACH, Calif. and REDWOOD CITY, Calif., Nov. 13, 2023 (GLOBE NEWSWIRE) -- eFFECTOR Therapeutics, Inc. (NASDAQ: EFTR), a leader in the development of selective translation regulator inhibitors (STRIs) for the treatment of cancer, today reported financial results for the third quarter ended September 30, 2023 and provided a corporate update.
  • These results, if positive, would enable activities, including interactions with regulatory agencies, intended to support initiation of a Phase 3 registrational trial.
  • Research and Development (R&D) Expenses: R&D expenses were $5.4 million for the quarter ended September 30, 2023, compared to $6.6 million for the same quarter of 2022.
  • Other Income (Expense): Other expense was $0.4 million for the quarter ended September 30, 2023, compared to $0.3 million for the same quarter of 2022.

NEXGEL Reports Record Third Quarter 2023 Revenue of $1.2 Million, an Increase of 115% Year-Over-Year

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Monday, November 13, 2023
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LANGHORNE, Pa., Nov. 13, 2023 (GLOBE NEWSWIRE) -- NEXGEL, Inc. (“NEXGEL” or the “Company”) (NASDAQ: “NXGL”), a leading provider of ultra-gentle, high-water-content hydrogel products for healthcare and consumer applications, today announced its financial results for the third quarter ended September 30, 2023.

Key Points: 
  • Importantly, gross margins during the third quarter improved sequentially to 28.2% as compared to 15.0% in the prior second quarter.
  • For the third quarter of 2023, revenue totaled $1.2 million, an increase of $653 thousand or 115%, as compared to $568 thousand for the same period the year prior.
  • Gross profit margin increased sequentially to 28.2% during the third quarter of 2023 as compared to 15.0% during the second quarter of 2022.
  • Net loss also improved sequentially to $550 thousand during the third quarter of 2023 as compared to $642 thousand during the second quarter of 2023.

Eloxx Pharmaceuticals Reports Third Quarter 2023 Financial and Operating Results and Provides Business Update

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Monday, November 13, 2023
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WATERTOWN, Mass., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Eloxx Pharmaceuticals, Inc. (OTC: ELOX), a leader in ribosomal RNA-targeted genetic therapies for rare diseases, today reported its financial results for the three months ended September 30, 2023, and provided a business update.

Key Points: 
  • WATERTOWN, Mass., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Eloxx Pharmaceuticals, Inc. (OTC: ELOX), a leader in ribosomal RNA-targeted genetic therapies for rare diseases, today reported its financial results for the three months ended September 30, 2023, and provided a business update.
  • Data from the Phase 2 study of ELX-02 for Alport Syndrome was included in two presentations at the American Society of Nephrology (ASN) Kidney Week 2023.
  • R&D expenses were $1.3 million for the three months ended September 30, 2023, which included $0.1 million in stock-based compensation.
  • Additionally, we sold shares of common stock through our ATM program during the quarter for gross proceeds of $1.8 million.

Cyclacel Pharmaceuticals Reports Third Quarter Financial Results and Provides Business Update

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Monday, November 13, 2023
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BERKELEY HEIGHTS, N.J., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Cyclacel Pharmaceuticals, Inc. (NASDAQ: CYCC, NASDAQ: CYCCP; "Cyclacel" or the "Company"), a biopharmaceutical company developing innovative medicines based on cancer cell biology, announced today third quarter financial results and provided a business update.

Key Points: 
  • - Cyclacel Expects to Release Updated Phase 1/2 Clinical and Biomarker Data with Oral Fadraciclib and Provide Safety, Efficacy and Putative Mechanism Update for Oral Plogosertib -
    BERKELEY HEIGHTS, N.J., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Cyclacel Pharmaceuticals, Inc. (NASDAQ: CYCC, NASDAQ: CYCCP; "Cyclacel" or the "Company"), a biopharmaceutical company developing innovative medicines based on cancer cell biology, announced today third quarter financial results and provided a business update.
  • If confirmed, these findings may be relevant in the upcoming Phase 2 part of our 065-101 study.
  • The operating plan includes discretionary expenditures, which if not incurred could extend cash runway into the second quarter of 2024.
  • Webcast link
    For the live and archived webcast, please visit the Corporate Presentations page on the Cyclacel website at www.cyclacel.com .

Motus GI Reports Third Quarter 2023 Financial Results and Provides Corporate Update

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Monday, November 13, 2023
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“The past several months was an exciting period for the Company, as we executed against our strategy on several fronts.

Key Points: 
  • “The past several months was an exciting period for the Company, as we executed against our strategy on several fronts.
  • Financial Results for the Third Quarter Ended September 30, 2023
    The Company reported revenue of $86,000 for the third quarter 2023, compared to $278,000 for the same period last year.
  • Share data is on a split adjusted basis resulting from the Company’s reverse stock split effective as of November 2, 2023.
  • This balance included the fully funded credit facility with Kreos Capital, which has approximately $9.2 million due and outstanding as of September 30, 2023.

IGM Biosciences Announces Third Quarter 2023 Financial Results

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Monday, November 13, 2023
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MOUNTAIN VIEW, Calif., Nov. 13, 2023 (GLOBE NEWSWIRE) -- IGM Biosciences, Inc. (Nasdaq: IGMS), a clinical-stage biotechnology company focused on creating and developing engineered IgM antibodies, today announced its financial results for the quarter ended September 30, 2023.

Key Points: 
  • MOUNTAIN VIEW, Calif., Nov. 13, 2023 (GLOBE NEWSWIRE) -- IGM Biosciences, Inc. (Nasdaq: IGMS), a clinical-stage biotechnology company focused on creating and developing engineered IgM antibodies, today announced its financial results for the quarter ended September 30, 2023.
  • “During the third quarter, we continued to execute across our clinical development pipeline,” said Fred Schwarzer, Chief Executive Officer of IGM Biosciences.
  • Collaboration Revenue: For the third quarter of 2023, collaboration revenues were $0.5 million, compared to $0.3 million for the same period in 2022.
  • Research and Development (R&D) Expenses: For the third quarter of 2023, R&D expenses were $54.8 million, compared to $48.2 million for the same period in 2022.

Bion’s former CEO and Technology Co-inventor Passes

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Monday, November 13, 2023
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Mr. Bassani’s association with Bion began as a consultant in 2000, with a focus on strategic planning and special projects.

Key Points: 
  • Mr. Bassani’s association with Bion began as a consultant in 2000, with a focus on strategic planning and special projects.
  • In 2006, he assumed the role of CEO.
  • Mr. Bassani stepped down as Bion’s CEO in 2022, when Bion began the transition from R&D to commercialization of its technology.
  • To the Bassani family: you have our deepest condolences, and we look forward to completing his mission.”

Cara Therapeutics Reports Third Quarter 2023 Financial Results

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Monday, November 13, 2023
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– Conference call today at 4:30 p.m. EST –

Key Points: 
  • – Conference call today at 4:30 p.m. EST –
    STAMFORD, Conn., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Cara Therapeutics, Inc. (Nasdaq: CARA), a commercial-stage biopharmaceutical company leading a new treatment paradigm to improve the lives of patients suffering from pruritus, today announced financial results and operational highlights for the third quarter ended September 30, 2023.
  • “We are pleased to have closed our non-dilutive financing transaction with HealthCare Royalty, which extends our cash runway into 2025,” said Christopher Posner, President and Chief Executive Officer of Cara Therapeutics.
  • Wholesalers shipped 90,828 vials to dialysis centers during the third quarter of 2023.
  • Revenues: Total revenue was $4.9 million and $10.8 million for the three months ended September 30, 2023 and 2022, respectively.

Design Therapeutics Reports Third Quarter 2023 Financial Results and Plans for a Comprehensive Portfolio Update in Early 2024

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Monday, November 13, 2023
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CARLSBAD, Calif., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Design Therapeutics, Inc. (Nasdaq: DSGN), a biotechnology company developing treatments for serious degenerative genetic diseases, today reported third quarter 2023 financial results. A strategic realignment was initiated to prioritize long-term growth, focus capital resources on program spend and implement cost savings. As a result, Design now expects its cash, cash equivalents and marketable securities to fund its planned operating expenses through at least the next five years. Additionally, Design announced plans to provide an update on its corporate strategy and priorities, and outline anticipated milestones across its business and clinical- and research-stage pipeline of novel GeneTAC™ small molecules in early 2024.

Key Points: 
  • A strategic realignment was initiated to prioritize long-term growth, focus capital resources on program spend and implement cost savings.
  • As a result, Design now expects its cash, cash equivalents and marketable securities to fund its planned operating expenses through at least the next five years.
  • Additionally, Design announced plans to provide an update on its corporate strategy and priorities, and outline anticipated milestones across its business and clinical- and research-stage pipeline of novel GeneTAC™ small molecules in early 2024.
  • We look forward to sharing more on our near- and long-term strategic priorities as part of a comprehensive update in early 2024.

Clearside Biomedical Announces Third Quarter 2023 Financial Results and Provides Corporate Update

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Monday, November 13, 2023
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ALPHARETTA, Ga., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Clearside Biomedical, Inc. (Nasdaq: CLSD), a biopharmaceutical company revolutionizing the delivery of therapies to the back of the eye through the suprachoroidal space (SCS®), today reported financial results for the third quarter ended September 30, 2023, and provided a corporate update.

Key Points: 
  • ET -
    ALPHARETTA, Ga., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Clearside Biomedical, Inc. (Nasdaq: CLSD), a biopharmaceutical company revolutionizing the delivery of therapies to the back of the eye through the suprachoroidal space (SCS®), today reported financial results for the third quarter ended September 30, 2023, and provided a corporate update.
  • Other Income: Other income for the third quarter of 2023 was $0.4 million, compared to $0.2 million for the third quarter of 2022.
  • Other Expense: Non-cash interest expense for the third quarter of 2023 was $2.6 million, compared to $1.3 million in the third quarter of 2022.
  • Clearside’s management will host a webcast and conference call today at 4:30 p.m. Eastern Time to discuss the financial results and provide a corporate update.