G&A

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.

Ocular Therapeutix™ Reports Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Monday, March 11, 2024

“Bringing together our dedicated, world-class team of acknowledged strategic and clinical experts has enabled us to position Ocular as a leader in retinal care.

Key Points: 
  • “Bringing together our dedicated, world-class team of acknowledged strategic and clinical experts has enabled us to position Ocular as a leader in retinal care.
  • Total net revenue was $14.8 million for the fourth quarter of 2023, a 5.0% increase over total net revenue of $14.1 million in the comparable period in 2022, driven by DEXTENZA sales.
  • General and administrative expenses were $8.0 million for the fourth quarter of 2023 versus $8.3 million in the comparable quarter of 2022, lower primarily due to a reduction of professional-related fees and other expenses.
  • Non-cash charges for stock-based compensation and depreciation and amortization were $5.3 million in the fourth quarter of 2023 versus $4.7 million for the comparable quarter in 2022.

Caribou Biosciences Reports Fourth Quarter and Full Year 2023 Financial Results and Provides Business Update

Retrieved on: 
Monday, March 11, 2024

BERKELEY, Calif., March 11, 2024 (GLOBE NEWSWIRE) --  Caribou Biosciences, Inc. (Nasdaq: CRBU), a leading clinical-stage CRISPR genome-editing biopharmaceutical company, today reported financial results for the fourth quarter and full year 2023 and reviewed recent pipeline progress.

Key Points: 
  • “For our lead program, CB-010, we plan to present initial dose expansion data and the RP2D in the second quarter of 2024.
  • For our third program, CB-012, we are thrilled to have recently dosed the first patient in the AMpLify trial.
  • In December 2023, Caribou shared regulatory feedback from the U.S. Food and Drug Administration (FDA) following a Type B clinical meeting.
  • CB-012: Caribou plans to provide updates on dose escalation as the AMpLify Phase 1 clinical trial in r/r AML advances.

Lexeo Therapeutics Reports Fourth Quarter and Full Year 2023 Financial Results and Operational Highlights

Retrieved on: 
Monday, March 11, 2024

NEW YORK, March 11, 2024 (GLOBE NEWSWIRE) -- Lexeo Therapeutics, Inc. (Nasdaq: LXEO), a clinical stage genetic medicine company dedicated to pioneering treatments for genetically defined cardiovascular diseases and APOE4-associated Alzheimer’s disease, today reported fourth quarter and full year 2023 financial results and provided operational highlights.

Key Points: 
  • Data to date suggest that FA patients may have lower FXN levels in the heart versus peripheral tissues.
  • Across all three cardiac biopsies, we observed an increase in FXN levels as measured by liquid chromatography mass spectrometry relative to pre-treatment baseline levels.
  • Lexeo anticipates the gross proceeds from the private placement to be approximately $95.0 million, before deducting any offering related expenses.
  • G&A expenses were $15.4 million for the year ended December 31, 2023, compared to $12.0 million for the same period in 2022.

Structure Therapeutics Reports Fourth Quarter and Full Year 2023 Financial Results and Recent Highlights

Retrieved on: 
Friday, March 8, 2024

SAN FRANCISCO, March 08, 2024 (GLOBE NEWSWIRE) -- Structure Therapeutics Inc. (NASDAQ: GPCR), a clinical-stage global biopharmaceutical company developing novel oral small molecule therapeutics for metabolic and cardiopulmonary diseases, today reported financial results for the fourth quarter and full year ended December 31, 2023, and highlighted recent corporate achievements.

Key Points: 
  • “In 2023 we demonstrated clear proof-of-concept with our lead GLP-1 receptor agonist, GSBR-1290, for obesity and type 2 diabetes.
  • This study is fully enrolled and data are expected in the latter half of the second quarter of 2024.
  • The Company plans to initiate a global Phase 2b obesity study of GSBR-1290 in the fourth quarter of 2024.
  • Net Loss: Net loss for the fourth quarter of 2023 totaled $24.5, with non-cash stock-based compensation expense of $2.1 million, compared to $11.9 million for the fourth quarter of 2022 with non-cash stock-based compensation expense of $0.6 million.

XOMA Reports Fourth Quarter and Full Year 2023 Financial Results and Highlights Recent and Upcoming Events Expected to Drive Shareholder Value

Retrieved on: 
Friday, March 8, 2024

EMERYVILLE, Calif., March 08, 2024 (GLOBE NEWSWIRE) --  XOMA Corporation (Nasdaq: XOMA), the biotech royalty aggregator, reported its fourth quarter and full year 2023 financial results and highlighted portfolio activities expected to drive long-term shareholder value.

Key Points: 
  • XOMA recorded total revenues of $1.8 million and $4.8 million for the fourth quarter and full year of 2023, respectively.
  • General and administrative (“G&A”) expenses were $7.3 million for the fourth quarter and $25.6 million for the full year of 2023.
  • In the fourth quarter of 2023, G&A expenses included $2.6 million in non-cash stock-based compensation expense, compared with $1.0 million in the fourth quarter of 2022.
  • In 2023, net loss for the fourth quarter and year ended December 31, 2023, was $20.1 million and $40.8 million, respectively.

Allarity Therapeutics Reports Full Year 2023 Financial Results and Provides a Business Update

Retrieved on: 
Friday, March 8, 2024

The Company's Interim Chief Executive Officer, Thomas Jensen, stated, “2023 was a year of remarkable achievements for Allarity Therapeutics as we made significant strides in advancing our DRP®-guided drug development.

Key Points: 
  • The Company's Interim Chief Executive Officer, Thomas Jensen, stated, “2023 was a year of remarkable achievements for Allarity Therapeutics as we made significant strides in advancing our DRP®-guided drug development.
  • Announced leadership changes and strategic advisory engagement:
    Appointment of co-founder Thomas H. Jensen as Interim Chief Executive Officer in December 2023.
  • With nearly two decades at Allarity Therapeutics, Jensen brings extensive experience and a deep understanding of the company’s DRP® to his new role.
  • Net Loss from Operations: Net Loss from Operations was $17.1 million for 2023, compared to $34 million for 2022.

IGM Biosciences Announces Fourth Quarter and Full Year 2023 Financial Results and Provides Corporate Update

Retrieved on: 
Thursday, March 7, 2024

MOUNTAIN VIEW, Calif., March 07, 2024 (GLOBE NEWSWIRE) -- IGM Biosciences, Inc. (Nasdaq: IGMS), a clinical-stage biotechnology company creating and developing engineered IgM antibodies, today announced its financial results for the fourth quarter and full year ended December 31, 2023 and provided an update on recent developments.

Key Points: 
  • MOUNTAIN VIEW, Calif., March 07, 2024 (GLOBE NEWSWIRE) -- IGM Biosciences, Inc. (Nasdaq: IGMS), a clinical-stage biotechnology company creating and developing engineered IgM antibodies, today announced its financial results for the fourth quarter and full year ended December 31, 2023 and provided an update on recent developments.
  • Collaboration Revenue: For the fourth quarter and year ended 2023, collaboration revenues were $0.7 million and $2.1 million, respectively, compared to $0.4 million and $1.1 million for the fourth quarter and year ended 2022, respectively.
  • Research and Development (R&D) Expenses: For the fourth quarter and year ended 2023, R&D expenses were $54.2 million and $215.5 million, respectively, compared to $45.0 million and $179.3 million for the fourth quarter and year ended 2022, respectively.
  • General and Administrative (G&A) Expenses: For the fourth quarter and year ended 2023, G&A expenses were $11.6 million and $50.1 million, respectively, compared to $11.6 million and $49.7 million for the fourth quarter and year ended 2022, respectively.

ALX Oncology Reports Fourth Quarter and Full Year 2023 Financial Results and Provides Corporate Update

Retrieved on: 
Thursday, March 7, 2024

SOUTH SAN FRANCISCO, Calif., March 07, 2024 (GLOBE NEWSWIRE) -- ALX Oncology Holdings Inc., (“ALX Oncology” or “the Company”) (Nasdaq: ALXO), an immuno-oncology company developing therapies that block the CD47 immune checkpoint pathway, today reported financial results for the fourth quarter and full year ended December 31, 2023, and provided a corporate update.

Key Points: 
  • SOUTH SAN FRANCISCO, Calif., March 07, 2024 (GLOBE NEWSWIRE) -- ALX Oncology Holdings Inc., (“ALX Oncology” or “the Company”) (Nasdaq: ALXO), an immuno-oncology company developing therapies that block the CD47 immune checkpoint pathway, today reported financial results for the fourth quarter and full year ended December 31, 2023, and provided a corporate update.
  • 2023 Full Year and Fourth Quarter Financial Results:
    Cash, Cash Equivalents and Investments: Cash, cash equivalents and investments as of December 31, 2023, were $218.1 million.
  • Non-GAAP net loss was $38.7 million for the fourth quarter ended December 31, 2023, as compared to a non-GAAP net loss of $24.4 million for the fourth quarter ended December 31, 2022.
  • A reconciliation of GAAP to non-GAAP financial results can be found at the end of this news release.

Concrete Pumping Holdings Reports First Quarter Fiscal Year 2024 Results

Retrieved on: 
Thursday, March 7, 2024

First Quarter Fiscal Year 2024 Summary vs. First Quarter of Fiscal Year 2023 (unless otherwise noted)

Key Points: 
  • First Quarter Fiscal Year 2024 Summary vs. First Quarter of Fiscal Year 2023 (unless otherwise noted)
    Revenue increased 4% to $97.7 million compared to $93.6 million.
  • Revenue in the first quarter of fiscal year 2024 increased 4% to $97.7 million compared to $93.6 million in the first quarter of fiscal year 2023.
  • Revenue in the first quarter of fiscal 2024 decreased 0.8% to $66.7 million compared to $67.2 million in the prior year quarter.
  • Net income in the first quarter of fiscal year 2024 was $2.4 million compared to $2.8 million in the prior year quarter.