Loading...
•
Mar 31, 2020
PDS Biotechnology Q1 2020 Earnings Report
PDS Biotechnology reported financial results for the first quarter ended March 31, 2020 and provided a business update.
Key Takeaways
PDS Biotechnology reported a net loss of $4.0 million for the first quarter of 2020, with research and development expenses increasing by 91% compared to the same period in 2019. The company's cash balance as of March 31, 2020, was approximately $21.0 million, which includes net proceeds from a public offering in February 2020.
Initiated novel vaccine development programs for COVID-19 and universal influenza.
Announced pre-clinical collaboration with Farmacore Biotechnology for tuberculosis.
Delayed initiation of Phase 2 VERSATILE-002 trial for PDS0101 in recurrent/metastatic head and neck cancer due to the global COVID-19 pandemic.
Secured the U.S. composition of matter patent for the Versamune® platform.
Forward Guidance
PDS Biotech remains committed to immuno-oncology programs, including two upcoming Phase 2 studies for PDS0101 with partners at the National Cancer Institute. The company looks forward to initiating a third Phase 2 program evaluating the combination of PDS0101 and Merck’s KEYTRUDA® in HPV16-associated head and neck cancer for first line treatment of recurrent/metastatic disease when conditions to conduct the study improve.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...