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Sep 30, 2023
PDS Biotechnology Q3 2023 Earnings Report
PDS Biotechnology reported financial results for Q3 2023 and provided a business update.
Key Takeaways
PDS Biotech reported a net loss of $10.8 million for the third quarter of 2023, driven by increased research and development and general and administrative expenses. The company's cash balance as of September 30, 2023, was $54.3 million, expected to sustain operations into Q3 2024.
Announced 75% overall survival rate at 36 months in ICI-naive patients in NCI-led Phase 2 trial for advanced HPV16-positive cancer.
Announced 2-year overall survival rate of 74% in VERSATILE-002 Phase 2 trial for ICI-naïve HPV16-positive recurrent or metastatic head and neck cancer patients.
Reported interim data from Phase 1/2 trial of docetaxel and PDS01ADC in metastatic prostate cancer patients, showing PSA decline in all patients.
PDS Biotech anticipates initiation of VERSATILE-003 in Q1 2024.
Forward Guidance
PDS Biotech believes its available cash resources will sustain operational and research and development endeavors into the third quarter of 2024. The company expects to execute its current operational and research and development endeavors by obtaining additional capital.
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