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Mar 31, 2023
Third Harmonic Q1 2023 Earnings Report
Announced first quarter 2023 financial results.
Key Takeaways
Third Harmonic Bio reported a net loss of $9.1 million for the first quarter ended March 31, 2023. The company's cash and cash equivalents totaled $282.2 million as of March 31, 2023, which is expected to fund operations for at least the next twelve months.
Progress on next generation oral KIT inhibitor program with a new development candidate planned for announcement this year.
Preclinical mechanistic studies have provided insights into the transaminitis observed with THB001, which are being applied to the next-generation program.
Intends to present the full data set from the discontinued Phase 1b chronic inducible urticaria study for THB001 at an upcoming scientific conference.
Cash and cash equivalents totaled $282.2 million as of March 31, 2023.
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