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Sep 30, 2022
Third Harmonic Q3 2022 Earnings Report
Announced third quarter 2022 financial results and provided a corporate update.
Key Takeaways
Third Harmonic Bio reported a net loss of $8.2 million for the quarter ended September 30, 2022. They completed an upsized initial public offering, providing funding through 2025, and patient dosing is underway in a Phase 1b chronic inducible urticaria clinical trial.
Completed an upsized $213.1 million initial public offering.
Patient dosing is underway in a Phase 1b trial in Chronic Inducible Urticaria.
The company expects to initiate a Phase 1b clinical trial in asthma during the first half of 2023.
Initial clinical data from its Phase 1b proof-of-concept clinical trial in chronic inducible urticaria will be reported during the second half of 2023.
Forward Guidance
Third Harmonic Bio expects to achieve several milestones in the coming years, including submitting a clinical trial application in Canada for THB001, reporting initial clinical data from its Phase 1b proof-of-concept clinical trial in chronic inducible urticaria, submitting both a CTA in Europe and an investigational new drug application in the United States to support the initiation of a Phase 2 trial in chronic spontaneous urticaria, and reporting initial data from the Phase 1b asthma trial.
Positive Outlook
- Submit a clinical trial application (CTA) in Canada for THB001 to support the initiation of a Phase 1b trial in asthma during the first half of 2023.
- Report initial clinical data from its Phase 1b proof-of-concept clinical trial in chronic inducible urticaria during the second half of 2023.
- Submit both a CTA in Europe and an investigational new drug application in the United States to support the initiation of a Phase 2 trial in chronic spontaneous urticaria in the first half of 2024.
- Report initial data from the Phase 1b asthma trial in the second half of 2024.
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