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Reneo Pharmaceuticals Q1 2025 Earnings Report
OnKure Therapeutics reported its first quarter 2025 financial results and business highlights.
Key Takeaways
OnKure Therapeutics reported a net loss of $15.9 million for the first quarter of 2025, with cash and cash equivalents of $96.7 million. The company is advancing its PIKture-01 trial and expects to announce a new pan-mutant selective development candidate in Q2 2025.
Cash and cash equivalents were approximately $96.7 million as of March 31, 2025.
Research and development expenses increased to $13.0 million in Q1 2025 from $8.6 million in Q1 2024.
Net loss for the first quarter of 2025 was $15.9 million, compared to $9.5 million in the same period last year.
The company expects its cash and cash equivalents to be sufficient to fund operations into Q4 2026.
Reneo Pharmaceuticals
Reneo Pharmaceuticals
Forward Guidance
OnKure Therapeutics anticipates continued progress in its PIKture-01 trial, with additional data expected in the second half of 2025, and plans to announce a new pan-mutant selective development candidate in Q2 2025. The company expects its current cash and cash equivalents to fund operations into Q4 2026.
Positive Outlook
- On track to report additional data from the PIKture-01 trial in the second half of 2025, including mature single agent and initial combination data.
- Planned announcement of a pan-mutant selective development candidate in Q2 2025.
- Cash and cash equivalents expected to be sufficient to fund operations through multiple anticipated milestones into Q4 2026.
- Completed dose escalation and closed enrollment in Part A of PIKture-01 trial with only one dose limiting toxicity observed.
- Nearing completion of dose escalation in Part B of PIKture-01 trial with no dose limiting toxicities observed to date.
Challenges Ahead
- The company's forward-looking statements are subject to substantial risks and uncertainties.
- Actual uses of cash and cash equivalents may differ from assumptions underlying expected cash runway.
- The outcome of preclinical testing and early clinical trials may not be predictive of success of later clinical trials.
- Potential delays or difficulties in patient enrollment or maintenance in clinical trials.
- The company faces substantial competition in discovering, developing, or commercializing products.