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Sep 30, 2024
Entrada Therapeutics Q3 2024 Earnings Report
Entrada Therapeutics reported financial results for the third quarter ended September 30, 2024 and highlighted recent business updates.
Key Takeaways
Entrada Therapeutics reported a net loss of $14.0 million for Q3 2024, compared to a net income of $35.5 million for the same period in 2023. Cash, cash equivalents, and marketable securities were $449.3 million as of September 30, 2024, expected to fund operations into 2027. Collaboration revenue was $19.6 million, and R&D expenses were $31.3 million.
Presented additional data from the Phase 1 clinical trial ENTR-601-44-101 and new preclinical data supporting ENTR-601-45 for DMD at 2024 World Muscle Society Annual Congress.
On track to submit global regulatory filings for planned Phase 2 clinical trials for both ENTR-601-44 and ENTR-601-45 in Q4 2024.
Vertex announced the completion of the single ascending dose (SAD) and the initiation of the multiple ascending dose (MAD) portions of global Phase 1/2 clinical trial for partnered program VX-670 in people with DM1.
Cash runway expected into 2027 with $449.3 million in cash, cash equivalents and marketable securities as of September 30, 2024.
Revenue by Segment
Forward Guidance
Entrada anticipates that subsequent events and developments will cause its views to change and specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Entrada’s views as of any date subsequent to the date of this press release.
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