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ORIC Pharmaceuticals Reports Fourth Quarter and Full Year 2023 Financial Results and Operational Updates

Retrieved on: 
Monday, March 11, 2024

SOUTH SAN FRANCISCO, Calif. and SAN DIEGO, March 11, 2024 (GLOBE NEWSWIRE) -- ORIC Pharmaceuticals, Inc. (Nasdaq: ORIC), a clinical stage oncology company focused on developing treatments that address mechanisms of therapeutic resistance, today reported financial results and operational updates for the quarter and year ended December 31, 2023.

Key Points: 
  • Presented preclinical data for ORIC-114 at ESMO Congress 2023, demonstrating potent activity across atypical mutations in EGFR, thus expanding the potential eligible patient population.
  • Presented initial data from the Phase 1b trial of ORIC-533 in patients with relapsed/refractory multiple myeloma at the 2023 ASH Annual Meeting.
  • Cash, Cash Equivalents and Investments: Cash, cash equivalents and investments totaled $235.0 million as of December 31, 2023.
  • There were no such expenses for the year ended December 31, 2023.

Neumora Therapeutics Reports Fourth Quarter and Full Year 2023 Financial Results and Provides Business Update

Retrieved on: 
Thursday, March 7, 2024

WATERTOWN, Mass., March 07, 2024 (GLOBE NEWSWIRE) -- Neumora Therapeutics, Inc. (Nasdaq: NMRA), a clinical-stage biopharmaceutical company redefining neuroscience drug development, today announced financial results for the fourth quarter and full year ended December 31, 2023 and provided a business update.

Key Points: 
  • In October 2023, Neumora announced that Robert Lenz, M.D., Ph.D., had joined Neumora as executive vice president, head of R&D.
  • Cash Position: As of December 31, 2023, Neumora had cash, cash equivalents and marketable securities of $463.8 million.
  • R&D Expense: Research and development expenses for the fourth quarter of 2023 were $38.9 million, as compared to $23.5 million for the same period in 2022.
  • Net Loss: The Company reported a net loss of $108.7 million for the fourth quarter of 2023, as compared to $28.1 million for the same period in 2022.

Portage Biotech Reports Results for Fiscal Quarter Ended December 31, 2023, and Business Update

Retrieved on: 
Wednesday, February 28, 2024

WESTPORT, Conn., Feb. 28, 2024 (GLOBE NEWSWIRE) -- Portage Biotech Inc. (NASDAQ: PRTG) (“Portage” or the “Company”), a clinical-stage immuno-oncology company advancing novel multi-targeted therapies for use as monotherapy and in combination, today reported financial results for the fiscal quarter ended December 31, 2023.

Key Points: 
  • WESTPORT, Conn., Feb. 28, 2024 (GLOBE NEWSWIRE) -- Portage Biotech Inc. (NASDAQ: PRTG) (“Portage” or the “Company”), a clinical-stage immuno-oncology company advancing novel multi-targeted therapies for use as monotherapy and in combination, today reported financial results for the fiscal quarter ended December 31, 2023.
  • R&D costs increased slightly by approximately $0.1 million, or approximately 1%, from approximately $2.7 million in the Fiscal 2023 Quarter, to approximately $2.8 million in the Fiscal 2024 Quarter.
  • G&A expenses decreased by approximately $0.7 million, or approximately 35%, from approximately $2.0 million in the Fiscal 2023 Quarter, to approximately $1.3 million in the Fiscal 2024 Quarter.
  • The Company’s other pre-tax items of income and expense were substantially non-cash in nature and aggregated to approximately $44.9 million net expense in the Fiscal 2024 Quarter, compared to approximately $0.6 million net expense during the Fiscal 2023 Quarter.

Aclaris Therapeutics Reports Fourth Quarter and Full Year 2023 Financial Results and Provides a Corporate Update

Retrieved on: 
Tuesday, February 27, 2024

Aclaris reported positive results from its Phase 1 MAD trial of ATI-2138 in September 2023.

Key Points: 
  • Aclaris reported positive results from its Phase 1 MAD trial of ATI-2138 in September 2023.
  • Net loss was $1.5 million for the fourth quarter of 2023 compared to $27.6 million for the fourth quarter of 2022.
  • Total revenue was $17.6 million for the fourth quarter of 2023 compared to $7.8 million for the fourth quarter of 2022.
  • Licensing expenses were $5.7 million for the quarter ended December 31, 2023 compared to $0.6 million for the prior year period.

Evolus Reports Record Fourth Quarter and Full Year 2023 Financial Results; Reaffirms 2024 Guidance

Retrieved on: 
Thursday, March 7, 2024

Accounts purchasing Jeuveau® increased by a record high of more than 840 in the fourth quarter.

Key Points: 
  • Accounts purchasing Jeuveau® increased by a record high of more than 840 in the fourth quarter.
  • Loss from operations for the fourth quarter of 2023 was $8.6 million, compared to $13.4 million in the third quarter of 2023.
  • Non-GAAP loss from operations in the fourth quarter of 2023 was $3.7 million, compared to $5.7 million in the third quarter of 2023.
  • Evolus expects its adjusted gross profit margin for the full year 2024 to be between 68% and 71%, consistent with 2023 guidance.

Gilead and Merus Announce Collaboration to Discover Novel Antibody-Based Trispecific T-Cell Engagers

Retrieved on: 
Wednesday, March 6, 2024

Gilead Sciences, Inc. (Nasdaq:GILD) and Merus N.V. (Nasdaq:MRUS) today announced a research collaboration, option and license agreement to discover novel dual tumor-associated antigens (TAA) targeting trispecific antibodies.

Key Points: 
  • Gilead Sciences, Inc. (Nasdaq:GILD) and Merus N.V. (Nasdaq:MRUS) today announced a research collaboration, option and license agreement to discover novel dual tumor-associated antigens (TAA) targeting trispecific antibodies.
  • Gilead and Merus agreed to collaborate on the use of Merus’ proprietary Triclonics® platform along with Gilead’s oncology expertise to research and develop multiple, separate preclinical research programs.
  • Gilead will have the right to license programs developed under the collaboration after the completion of select research activities.
  • If Gilead exercises its option to license any such program from the collaboration, Gilead will be responsible for additional research, development and commercialization activities for such program.

Glaukos Announces Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Wednesday, February 21, 2024

Gross margin for the fourth quarter of 2023 was approximately 77%, compared to approximately 76% in the same period in 2022.

Key Points: 
  • Gross margin for the fourth quarter of 2023 was approximately 77%, compared to approximately 76% in the same period in 2022.
  • Non-GAAP SG&A expenses for the fourth quarter of 2023 increased 22% to $62.3 million, compared to $51.1 million in the same period in 2022.
  • Loss from operations in the fourth quarter of 2023 was $38.6 million, compared to operating loss of $33.7 million in the fourth quarter of 2022.
  • Non-GAAP loss from operations in the fourth quarter of 2023 was $32.4 million, compared to non-GAAP operating loss of $27.4 million in the fourth quarter of 2022.

Summit Therapeutics Reports Financial Results and Operational Progress for the Fourth Quarter and Year Ended December 31, 2023

Retrieved on: 
Tuesday, February 20, 2024

Summit Therapeutics Inc. (NASDAQ: SMMT) ("Summit," "we," or the "Company") today reports its financial results and provides an update on its operational progress for the fourth quarter and year-ended December 31, 2023.

Key Points: 
  • Summit Therapeutics Inc. (NASDAQ: SMMT) ("Summit," "we," or the "Company") today reports its financial results and provides an update on its operational progress for the fourth quarter and year-ended December 31, 2023.
  • Summit received the rights to develop and commercialize ivonescimab in the United States, Canada, Europe, and Japan.
  • In exchange for these rights, Summit made an upfront payment of $500 million in 2023.
  • Non-GAAP R&D expenses were $22.4 million for the fourth quarter of 2023, as compared to $4.4 million for the same period of the year period.

Biocon Biologics Secures US Market Entry Date for Bmab 1200, a Proposed Biosimilar to Stelara®

Retrieved on: 
Thursday, February 29, 2024

The agreement licenses the Company to launch in the United States, in February 2025, once approved by the U.S. FDA.

Key Points: 
  • The agreement licenses the Company to launch in the United States, in February 2025, once approved by the U.S. FDA.
  • The U.S. FDA has accepted the Company's Biologics License Application (BLA) for Bmab 1200 (bUstekinumab) for review under the 351(k) pathway.
  • Shreehas Tambe, CEO & Managing Director, Biocon Biologics Ltd, said: "This settlement agreement reflects our commitment and focus on science and innovation.
  • As a fully integrated biosimilars company, Biocon Biologics is committed to expanding access to life-changing treatments with our broad portfolio of products."

Medicenna Therapeutics Reports Third Quarter Fiscal 2024 Financial Results and Corporate Update

Retrieved on: 
Wednesday, February 14, 2024

Today, the Company reports promising clinical data from the on-going monotherapy escalation and expansion arms of the ABILITY-1 study.

Key Points: 
  • Today, the Company reports promising clinical data from the on-going monotherapy escalation and expansion arms of the ABILITY-1 study.
  • Clinical update from the combination arm of the ABILITY-1 study evaluating MDNA11 in with KEYTRUDA® expected in H1 and H2 of 2024.
  • Research and development expenses of $3.0 million were incurred during the quarter ended December 31, 2023, compared with $2.9 million incurred in the quarter ended December 31, 2022.
  • General and administrative expenses of $1.8 million were incurred during the quarter ended December 31, 2023, compared with $2.0 million during the quarter ended December 31, 2022.