CervoMed Q4 2023 Earnings Report
Key Takeaways
CervoMed reported its financial results for Q4 and full year 2023, highlighting advancements in their business, including a NASDAQ listing and the appointment of Joshua Boger, Ph.D., as Chair of the Board. The company is focused on the RewinD-LB Phase 2b trial for neflamapimod in DLB patients, with topline data expected in Q4 2024.
Announced a private placement of up to $149.4 million, expected to provide cash runway through the end of 2025.
On track to complete enrollment in the RewinD-LB Phase 2b clinical trial in Q2 2024, with topline data expected in Q4 2024.
Integrated summary of results from the AscenD-LB Phase 2a trial was published in a peer-reviewed journal and presented at a major scientific conference.
Appointed Joshua Boger, Ph.D., as Chair of the Board of Directors.
CervoMed
CervoMed
Forward Guidance
CervoMed anticipates completing enrollment in the RewinD-LB trial in Q2 2024 and expects topline data in Q4 2024. A private placement is expected to close on or about April 1, 2024, pending customary closing conditions.
Positive Outlook
- On track to complete enrollment in RewinD-LB trial in Q2 2024.
- Topline data from RewinD-LB trial expected in Q4 2024.
- Private placement expected to close on or about April 1, 2024.
- Upfront private placement funding of $50.0 million expected to be received on April 1, 2024.
- Cash position as of December 31, 2023, along with remaining funds, will enable funding through the end of 2025.
Challenges Ahead
- Forward-looking statements involve risks and uncertainties.
- Actual results could differ materially from those expressed or implied in forward-looking statements.
- Risks related to available cash resources and the availability of additional funds on acceptable terms.
- Risks related to the results of the Company’s clinical trials.
- Risks related to general economic, political, business, industry, and market conditions.