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Jun 30, 2021
Leap Therapeutics Q2 2021 Earnings Report
Leap Therapeutics reported financial results for the second quarter of 2021 and provided upcoming company milestones.
Key Takeaways
Leap Therapeutics reported a net loss of $9.5 million for the second quarter of 2021. The company made significant clinical progress in the DisTinGuish study of DKN-01 in combination with BeiGene’s tislelizumab, completing enrollment in the first-line patient cohort.
Completed enrollment in the first-line patient cohort of the DisTinGuish study of DKN-01 plus tislelizumab and chemotherapy in gastric cancer.
Initial data from the DisTinGuish study of DKN-01 plus tislelizumab and chemotherapy to be presented at the European Society for Medical Oncology (ESMO) Congress 2021.
Net loss was $9.5 million for the second quarter 2021, compared to $6.5 million for the same period in 2020.
Cash and cash equivalents totaled $35.7 million at June 30, 2021.
Leap Therapeutics
Leap Therapeutics
Forward Guidance
This press release contains forward-looking statements regarding the development and advancement of DKN-01, including the initiation, timing and design of future studies, enrollment in future studies, potential for the receipt of future option exercise, milestone, or royalty payments from BeiGene, and other future expectations, plans and prospects.
Positive Outlook
- Expectations with respect to the development and advancement of DKN-01
- Initiation of future studies
- Timing and design of future studies
- Enrollment in future studies
- Potential for the receipt of future option exercise, milestone, or royalty payments from BeiGene
Challenges Ahead
- Initiation, conduct, and completion of clinical trials, laboratory operations, manufacturing campaigns, and other studies may be delayed, adversely affected, or impacted by COVID-19 related issues
- Accuracy of estimates regarding expenses, future revenues, capital requirements and needs for financing
- Outcome, cost, and timing of product development activities and clinical trials
- Uncertain clinical development process, including the risk that clinical trials may not have an effective design or generate positive results
- Ability to obtain and maintain regulatory approval of drug product candidates