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Sep 30, 2023
Centessa Q3 2023 Earnings Report
Centessa reported financial results and business highlights.
Key Takeaways
Centessa Pharmaceuticals reported its third quarter 2023 financial results, with a net loss of $38.6 million. The company's cash, cash equivalents, and short-term investments totaled $281.3 million, expected to fund operations into 2026.
Registrational PRESent-2 and PRESent-3 studies are ongoing for SerpinPC in hemophilia B.
New data from Phase 2a study of SerpinPC accepted for poster presentation at ASH in December 2023.
Preclinical data for ORX750 presented at World Sleep Congress, advancing in IND-enabling studies, with clinical proof of concept data planned for 2024.
Ongoing Phase 1/2a study of LB101 (PD-L1xCD47) for the treatment of solid tumors.
Centessa
Centessa
Forward Guidance
Centessa Pharmaceuticals is focused on advancing its pipeline, including SerpinPC for hemophilia B, LB101 for solid tumors, and ORX750 for narcolepsy and other sleep-wake disorders. The company anticipates data presentations and clinical trial initiations in the near term.
Positive Outlook
- Registrational PRESent-2 and PRESent-3 studies are ongoing for SerpinPC in hemophilia B.
- Data from Part 5 of the ongoing Phase 2a study accepted for poster presentation at ASH on December 10, 2023.
- Phase 1/2a first-in-human clinical study is ongoing for PD-L1xCD47 LockBody LB101.
- LB206 is a development candidate.
- The Company is focused on rapidly advancing ORX750 through IND-enabling studies, obtaining IND clearance and initiating clinical development with the goal of sharing clinical proof of concept data in sleep-deprived healthy volunteers in 2024.
Challenges Ahead
- There are risks related to the safety and tolerability profile of product candidates.
- The company's ability to identify, screen and recruit a sufficient number of subjects in studies or clinical trials within anticipated timelines.
- Ability to execute IND-enabling activities in a timely manner or at all, including with respect to ORX750 and LB206.
- The company's ability to protect and maintain its intellectual property position.
- Economic risks to the United States and United Kingdom banking systems.