PDS Biotechnology Q4 2020 Earnings Report
Key Takeaways
PDS Biotech reported a net loss of $14.8 million for the year ended December 31, 2020, compared to a net loss of $7.0 million for the previous year. Research and development expenses increased, while general and administrative expenses decreased. The company's cash balance as of December 31, 2020 was $28.8 million.
Achieved preliminary efficacy benchmark in the Phase 2 combination trial of PDS0101 led by the National Cancer Institute.
Initiated VERSATILE-002, a Phase 2 trial of lead investigational drug candidate PDS0101, in combination with standard of care KEYTRUDA® for first-line treatment of patients with metastatic or recurrent HPV-positive head and neck cancer.
Expanded consortium for development of PDS0203, a novel, Versamune®-based second-generation COVID-19 vaccine.
Received award commitment of up to $60 million from Brazil’s Ministry of Science, Technology and Innovation (MCTI) to fund clinical development and commercialization of PDS0203.