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Mar 31, 2024
Leap Therapeutics Q1 2024 Earnings Report
Leap Therapeutics reported financial results for the first quarter ended March 31, 2024.
Key Takeaways
Leap Therapeutics reported a net loss of $13.8 million for the first quarter of 2024. The company's cash and cash equivalents totaled $54.9 million at the end of the quarter, exclusive of the $37.2 million net proceeds from a private placement completed in April 2024. A recent $40 million financing extends the cash runway into the second quarter of 2026.
Net Loss was $13.8 million for the first quarter 2024, compared to $41.9 million for the same period in 2023.
Research and development expenses were $11.3 million for the first quarter 2024, compared to $38.9 million for the same period in 2023.
General and administrative expenses were $3.5 million for the first quarter 2024, compared to $3.8 million for the same period in 2022.
Cash and cash equivalents totaled $54.9 million at March 31, 2024, exclusive of the $37.2 million net proceeds of the private placement completed in April 2024.
Leap Therapeutics
Leap Therapeutics
Forward Guidance
The financing provides cash runway into the second quarter of 2026, allowing the expansion of Part B of the DeFianCe CRC study to 180 patients, the full maturation of data in Part C of the DisTinGuish GEJ/gastric cancer study, and the manufacturing of Phase 3 clinical trial material.