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Mar 31, 2024
Centessa Q1 2024 Earnings Report
Centessa reported financial results and business highlights
Key Takeaways
Centessa Pharmaceuticals reported a net loss of $38.0 million for the first quarter of 2024. The company's cash runway is expected to extend into mid-2026, supported by a recent public offering.
Initiated Phase 1 clinical trial of ORX750 for narcolepsy treatment.
Registrational PRESent-2 and PRESent-3 studies of SerpinPC for hemophilia B are ongoing.
Completed a public offering resulting in net proceeds of approximately $107.2 million.
Cash runway extends into mid-2026, supporting clinical plans through multiple data readouts.
Centessa
Centessa
Forward Guidance
Centessa Pharmaceuticals expects its cash, cash equivalents and short-term investments as of March 31, 2024, in combination with approximately $107.2 million in aggregate net proceeds from our offering of ADSs completed in April and May 2024, will fund operations into mid-2026, without drawing on the remaining available tranches under the Oberland credit facility.