Cogent Biosciences Q4 2019 Earnings Report
Key Takeaways
Unum Therapeutics reported collaboration revenues of $15.3 million for Q4 2019, a significant increase compared to $3.8 million for the same period in 2018, primarily due to the recognition of a portion of the upfront payment from Seattle Genetics, Inc. Net income attributable to common stockholders was $2.3 million, or $0.07 per share, for the fourth quarter of 2019, compared to a net loss of $8.6 million, or ($0.29) per share for the same period of 2018. As of December 31, 2019, Unum had cash and cash equivalents of $37.4 million.
Prioritizing resources towards advancing preclinical program, BOXR1030, for solid tumor cancers.
Presented preclinical data for BOXR1030 at the Society for Immunotherapy of Cancer (SITC) Annual Meeting.
Entered into a common stock purchase agreement for up to $25 million with Lincoln Park Capital Fund, LLC.
Announced plans to explore strategic options to maximize shareholder value.
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.