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Dec 31, 2022
Centessa Q4 2022 Earnings Report
Centessa Pharmaceuticals reported its Q4 and full year 2022 financial results and recent business progress.
Key Takeaways
Centessa Pharmaceuticals reported a net loss of $43.2 million for the fourth quarter ended December 31, 2022, and cash and cash equivalents of $393.6 million as of December 31, 2022, which is expected to fund operations into 2026.
Initiated registration program for SerpinPC to treat hemophilia B; Enrolling subjects in PRESent-5, observational study
First subject dosed in Phase 1/2a clinical trial for LB101, a PD-L1xCD47 LockBody® to treat solid tumors; Preclinical data from second LockBody program targeting PD-L1xCD3 expected in 2023
Nominated ORX750, an orally administered, selective orexin receptor-2 (OX2R) agonist, as product candidate with the potential to be a best-in-class therapy to treat narcolepsy and other sleep disorders; ORX750 profile to be presented at scientific meeting in 2023
Cash runway into 2026
Centessa
Centessa
Forward Guidance
Centessa Pharmaceuticals expects to provide further updates on preclinical programs, including MGX292, as they advance towards clinical studies. The registrational program for hemophilia B is ongoing. The Company expects to share data from Part 5 of the OLE of the Phase 2a study of SerpinPC, subject to completion, at a scientific meeting this year. The Phase 1/2a first-in-human clinical study for Solid Tumors –PD-L1xCD47 LockBody (LB101) is ongoing. The Company expects to name a product candidate and share preclinical data this year for PD-L1xCD3 LockBody (Undisclosed). The Company expects to share preclinical data at a scientific meeting later this year for Narcolepsy and Other Sleep Disorders (ORX750).
Positive Outlook
- Registrational program for hemophilia B is ongoing.
- PRESent-5, an observational study, is enrolling subjects and the Company expects to begin dosing in PRESent-2 and PRESent-3 later this year.
- Company expects to share data from Part 5 of the OLE of the Phase 2a study of SerpinPC, subject to completion, at a scientific meeting this year.
- Phase 1/2a first-in-human clinical study for Solid Tumors –PD-L1xCD47 LockBody (LB101) is ongoing.
- Company expects to name a product candidate and share preclinical data this year for PD-L1xCD3 LockBody (Undisclosed).
Challenges Ahead
- Economic risks to the United States and United Kingdom banking systems
- Geo-political risks such as the Russia-Ukraine war
- Risks related to the COVID-19 pandemic including the effects of the Delta, Omicron and any other variants.
- Our ability to identify, screen and recruit a sufficient number of or any subjects in our anticipated new studies or clinical trials including PRESent-2, PRESent-3, PRESent-5, and studies or trials of LB101 or within anticipated timelines
- Risk that any one or more of our product candidates will not be successfully developed and/or commercialized