Pardes Biosciences Reports Second Quarter 2022 Financial Results and Provides Business Update
CARLSBAD, Calif., Aug. 15, 2022 (GLOBE NEWSWIRE) -- Pardes Biosciences, Inc. (NASDAQ: PRDS), a clinical-stage biopharmaceutical company developing PBI-0451 as a potential novel oral antiviral drug candidate for the treatment and prevention of SARS-CoV-2 infections and COVID-19 disease, today reported financial results for the second quarter ended June30, 2022 and provided a business update.
- CARLSBAD, Calif., Aug. 15, 2022 (GLOBE NEWSWIRE) -- Pardes Biosciences, Inc. (NASDAQ: PRDS), a clinical-stage biopharmaceutical company developing PBI-0451 as a potential novel oral antiviral drug candidate for the treatment and prevention of SARS-CoV-2 infections and COVID-19 disease, today reported financial results for the second quarter ended June30, 2022 and provided a business update.
- Research and development expenses were $20.3 million for the quarter ended June30, 2022, compared to $6.3 million for the quarter ended June30, 2021, an increase of $14.0 million.
- General and administrative expenses were $7.6 million for the quarter ended June30, 2022, compared to $1.9 million for the quarter ended June30, 2021, an increase of $5.7 million.
- Pardes cash and cash equivalents as of June30, 2022, were $228.6 million compared to $247.9 million as of March 31, 2022.