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Third Harmonic Fiscal Q2 2023 Earnings Report - CapyFin

Third Harmonic

🇺🇸 NASDAQ:THRD

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Aug 10, 2023

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Jun 30, 2023

Third Harmonic Q2 2023 Earnings Report

Financial results for the second quarter of 2023 were announced.

Key Takeaways

Third Harmonic Bio reported a net loss of $7.6 million for the second quarter of 2023. The company's cash and cash equivalents totaled $278.1 million as of June 30, 2023, which is expected to fund operations through at least 2025. They also announced the next-generation product candidate, THB335.

Introduced next-generation oral KIT inhibitor product candidate THB335.

THB335 retains the potency and selectivity of first-generation oral KIT inhibitor, THB001, with differentiated metabolic, distribution, and physicochemical profile

U.S. Investigational New Drug (IND) application filing and initiation of clinical trials of THB335 planned for the first half of 2024.

Cash and cash equivalents totaled $278.1 million as of June 30, 2023.

Previous year: -$6.74M

-38.7%