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Dec 31, 2023
Third Harmonic Q4 2023 Earnings Report
Financial results for the fourth quarter and full year 2023 were announced.
Key Takeaways
Third Harmonic Bio reported a net loss of $6.8 million for the fourth quarter of 2023, with cash and cash equivalents totaling $269.1 million as of December 31, 2023. The company believes its cash will fund operations through at least 2026.
U.S. IND was filed for THB335, with clinical trial start anticipated during Q2 2024.
Cash and cash equivalents totaled $269.1 million as of December 31, 2023.
R&D expenses decreased to $5.9 million for the three months ended December 31, 2023.
Net loss for the three months ended December 31, 2023 decreased to $6.8 million.
Third Harmonic
Third Harmonic
Forward Guidance
Third Harmonic Bio anticipates clinical trials for THB335 to start in Q2 2024 and believes its existing cash and cash equivalents will be sufficient to fund its operating expenses and capital expenditure requirements through at least 2026.
Positive Outlook
- Clinical trials for THB335 are expected to start in Q2 2024.
- Cash and cash equivalents are sufficient to fund operations through at least 2026.
Challenges Ahead
- Numerous risks and uncertainties could cause actual results to differ materially.
- Risks related to cash forecasts.
- Risks in advancing product candidates.
- Risks related to potential regulatory submissions.
- Risks in changes to laws or regulations.