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Jun 30, 2020
Cogent Biosciences Q2 2020 Earnings Report
Unum Therapeutics reported financial results for the second quarter ended June 30, 2020 and provided corporate updates.
Key Takeaways
Unum Therapeutics reported a collaboration revenue of $0.5 million, R&D expenses of $5.1 million, G&A expenses of $2.8 million, and a net loss of $7.4 million for the second quarter ended June 30, 2020. The company completed the acquisition of Kiq and is advancing clinical trials in Systemic Mastocytosis and Gastrointestinal Stromal Tumors ('GIST').
Completed acquisition of Kiq, including lead clinical-stage compound PLX9486, a potent and selective KIT D816V inhibitor.
Company positioned to advance best-in-class precision kinase inhibitors.
Advancing clinical trials in Systemic Mastocytosis and Gastrointestinal Stromal Tumors (‘GIST’).
Private placement resulted in gross proceeds to Unum of approximately $104.4 million.
Cogent Biosciences
Cogent Biosciences
Forward Guidance
Unum believes that its current cash and cash equivalents, including the $104.4 million received on July 9, 2020 from the Series A Preferred Stock private placement, will enable Unum to fund its operating expenses and capital expenditure requirements beyond 2022.