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Dec 31, 2020
Leap Therapeutics Q4 2020 Earnings Report
Reported financial results for the fourth quarter and year ended December 31, 2020.
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