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Mar 31, 2023
Centessa Q1 2023 Earnings Report
Centessa reported financial results for the first quarter ended March 31, 2023, highlighting strong clinical momentum and a cash runway into 2026.
Key Takeaways
Centessa Pharmaceuticals reported a net loss of $50.7 million for the first quarter of 2023. The company's cash, cash equivalents, and short-term investments totaled $346.2 million as of March 31, 2023, expected to fund operations into 2026.
Advanced registration program for SerpinPC to treat hemophilia B, enrolling subjects in PRESent-5 observational feeder study.
Dosing subjects in ongoing Phase 1/2a clinical trial for LB101, a PD-L1xCD47 LockBody to treat solid tumors.
Conducting IND enabling activities for ORX750, an orally administered, selective orexin receptor 2 (OX2R) agonist, for narcolepsy and other sleep disorders.
First subject dosed in Phase 1/2a clinical trial of LB101 in March.
Centessa
Centessa
Forward Guidance
Centessa expects to rapidly drive its pipeline forward and anticipates a lower cash burn rate for the remainder of the year. The company believes it is well positioned with a cash runway into 2026 to support multiple clinical readouts across its programs.