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Mar 31, 2023
Leap Therapeutics Q1 2023 Earnings Report
Leap Therapeutics reported financial results for the first quarter of 2023.
Key Takeaways
Leap Therapeutics reported a net loss of $41.9 million for the first quarter of 2023, primarily due to in-process research & development (IPR&D) expense associated with the acquisition of Flame Biosciences. They are in a strong financial position to develop their pipeline of personalized medicines for cancer patients.
Completed enrollment in Part A of the DeFianCe second-line CRC study.
Made excellent progress in enrolling in Part C of the DisTinGuish first-line GEA study.
Will present long-term follow-up data from Part A of the DisTinGuish study at ASCO in June.
Acquired Flame Biosciences at the beginning of the year.
Leap Therapeutics
Leap Therapeutics
Forward Guidance
Leap Therapeutics' forward-looking statements involve risks and uncertainties, including clinical trial execution, regulatory approvals, strategic partnerships, and financial stability.
Positive Outlook
- Continuation of clinical collaboration with BeiGene.
- Expected benefits from the merger with Flame Biosciences.
- Potential for new strategic partnerships for DKN-01.
- Anticipated timing for initiation or success of enrollment in clinical trials.
- Potential, safety, efficacy, and regulatory and clinical progress of Leap’s product candidates.
Challenges Ahead
- Ability to successfully execute clinical trials.
- Results of clinical trials and pre-clinical studies.
- Ability to successfully enter into new strategic partnerships.
- Approval from regulatory agencies.
- Sufficiency of cash resources to fund operations.