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Mar 31, 2020
Cogent Biosciences Q1 2020 Earnings Report
Announced financial results for the first quarter ended March 31, 2020, and provided corporate updates.
Key Takeaways
Unum Therapeutics reported a collaboration revenue of $7.0 million for the first quarter of 2020, compared to $3.1 million in the same period of 2019. The net loss attributable to common stockholders was $6.1 million, or $0.20 per share, compared to a net loss of $11.7 million, or $0.39 per share, for the same period in 2019. Cash and cash equivalents totaled $29.6 million as of March 31, 2020.
Prioritizing resources towards advancing its preclinical program, BOXR1030, for the treatment of solid tumor cancers.
Entered into a common stock purchase agreement for up to $25 million with Lincoln Park Capital Fund, LLC.
Exploring strategic options to maximize shareholder value.
Collaboration revenue increased due to the conclusion of the ATTCK-17-01 Phase 1 clinical trial and the termination of the collaboration agreement.
Cogent Biosciences
Cogent Biosciences
Forward Guidance
Unum believes that its existing cash and cash equivalents will fund operating expenses and capital expenditure requirements into mid-2021.