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Intensity Therapeutics Q4 2024 Earnings Report
Intensity Therapeutics reported its full-year 2024 financial results and provided a corporate update.
Key Takeaways
Intensity Therapeutics reported a net loss of $16.3 million for the year ended December 31, 2024, an increase from a net loss of $10.5 million in the prior year. Research and development expenses significantly increased due to the progression of the INVINCIBLE-3 and INVINCIBLE-4 studies, while cash and cash equivalents stood at $2.6 million.
Research and development expenses increased to $10.5 million in 2024 from $4.8 million in 2023, primarily driven by the INVINCIBLE-3 and INVINCIBLE-4 studies.
General and administrative expenses rose to $6.1 million in 2024 from $3.5 million in 2023, due to higher salaries, benefits, stock-based compensation, and legal/consulting fees.
The company's net loss for the year ended December 31, 2024, was $16.3 million, compared to a net loss of $10.5 million in the previous year.
As of December 31, 2024, Intensity Therapeutics had $2.6 million in cash and cash equivalents.
Intensity Therapeutics
Intensity Therapeutics
Forward Guidance
Intensity Therapeutics anticipates continued progress in its clinical trials, with expected completion of enrollment for the INVINCIBLE-3 Study in the first half of 2026 and for the INVINCIBLE-4 Study by the end of the first quarter of 2026.
Positive Outlook
- Expects to complete enrollment in the INVINCIBLE-3 Study in the first half of 2026.
- Anticipates activating additional sites in Switzerland and France for the INVINCIBLE-4 Study in the first half of 2025.
- Aims to complete enrollment for the INVINCIBLE-4 Study by the end of the first quarter of 2026.
- Believes in the potential of INT230-6 to positively impact metastatic sarcoma and presurgical breast cancer patients.
- Actively enrolling patients across the US, Canada, Europe, and Australia for the INVINCIBLE-3 Study.
Challenges Ahead
- Requires additional funding before generating revenues from product sales.
- Subject to risks related to the initiation, timing, progress, and results of future preclinical studies and clinical trials.
- Uncertainty regarding the timing or likelihood of regulatory filings and approvals.
- Challenges in maintaining and establishing collaborations or obtaining additional funding.
- Potential for actual results to differ materially from current expectations and projections due to various risks and uncertainties.