Leap Therapeutics Q4 2020 Earnings Report
Key Takeaways
Leap Therapeutics reported its Q4 and full year 2020 financial results, highlighting a transformative year marked by a strategic alliance with BeiGene and the advancement of the DKN-01 development program.
License revenues were $0.4 million for the fourth quarter 2020.
Research and development expenses were $5.1 million for the fourth quarter of 2020, compared to $5.7 million for the same period in 2019.
General and administrative expenses were $2.4 million for the full year 2020 compared to $2.6 million for the same period in 2019.
Cash and cash equivalents totaled $52.1 million at December 31, 2020.
Leap Therapeutics
Leap Therapeutics
Forward Guidance
Leap's expectations include 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 a future option exercise, milestones or royalty payments from BeiGene.
Positive Outlook
- Advancement of DKN-01 development program
- Potential for future option exercise from BeiGene
- Potential for milestones payments from BeiGene
- Potential for royalty payments from BeiGene
- Initiation of Phase 2a combination study with BeiGene’s tislelizumab in gastric cancer patients
Challenges Ahead
- Clinical trials may not have an effective design or generate positive results
- Ability to obtain and maintain regulatory approval of drug product candidates is uncertain
- COVID-19 related issues may delay clinical trials
- Estimates regarding future revenues may be inaccurate
- The uncertain clinical development process