PDS Biotechnology

Mar 27, 2020

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Dec 31, 2019

PDS Biotechnology Q4 2019 Earnings Report

PDS Biotechnology reported its financial results for the full year ended December 31, 2019, and provided a business update.

Key Takeaways

PDS Biotechnology reported a net loss of approximately $6.9 million for the year ended December 31, 2019. Research and development expenses increased by approximately 634%, and general and administrative expenses increased by approximately 294%. The company's cash balance as of December 31, 2019, was approximately $12.2 million.

Reported promising Phase 1 clinical outcome data of PDS0101 in patients with cervical intraepithelial neoplasia (CIN).

Announced clinical collaboration with Merck to evaluate PDS0101 in combination with KEYTRUDA® (pembrolizumab) in first line treatment of metastatic head and neck cancer.

Completed manufacturing of clinical batches of HPV mix component of PDS0101 for upcoming Phase 2 combination trials with Merck and National Cancer Institute.

Successfully completed an underwritten public offering of its common stock with net proceeds of approximately $11.9 million in February 2020.