In This Article:
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Total Operating Expenses: $21.6 million for Q1 2024, up $3.5 million from Q1 2023.
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Research and Development Expenses: $12.9 million for Q1 2024, up from $10.9 million in the prior year period.
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General and Administrative Expenses: $8.7 million for Q1 2024, up from $7.2 million in the prior year period.
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Net Loss: $18.7 million for Q1 2024, increased from $15.0 million in the prior year period.
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Cash, Cash Equivalents, and Investments: Approximately $248 million at the end of Q1 2024, down from $264 million at the end of the previous quarter.
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Expected Growth in Operating Expenses: Anticipated to grow by approximately 25% from 2023 levels.
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Cash Runway: Expected to extend into the second half of 2026.
Release Date: April 30, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Q & A Highlights
Q: Hi, this is Madison on for Hugo morning. Just want to maybe start off with sorry, if I missed this on the call, but just wanted to make sure I'm so on time line, you guys are still targeting 2025 expected launch? A: Yes. So on the last time, we gave some time. Our guidance was was on our previous call, which was our fiscal year 2023 call. We didn't make any updates at this time. Things continue to progress on the timeline that we outlined earlier. We don't have any greater specificity at this point. But one of the things that I think I said in Q&A in the last call, just still true is that as we get and as we get to the point where we're able to measure a significant number of our teams, whether it be 1,000 or 2000 or for something in that range from cell I say, and do that in a reliable and reproducible way.
Q: Yes, fubo data, you've shared data there demonstrates the platform's ability to quantify mixtures of tau protein forms that you guys are talking about stepping back. I was just wondering where some like biological questions or use cases they can be answered with disability. I think you mentioned Alzheimer's on the call and for context, could you share how you go about characterizing proteome form mixtures on an BACK, for example? A: Sure. I'll take that. This is Per ag. When we think about pretty forms, generally, we think about them as providing additional detail and specificity about the function of proteins such as tau. So for instance, the first level of regulation is just by whether tau is present or absent the second being how much is present and then the third level of detail that we're really getting to for the first time is studying, how is modified and what the prevalence of the different Modus modified pretty forms are that may have, for instance, three different phosphorylation sites that have been populated and an additional splice variant.