Financial Performance - Revenue for Q3 2024 was $15.0 million, compared to nil in Q2 2024, primarily from royalties related to prior sales of Vaxzevria® by AstraZeneca[10] - Total revenue for the three months ended September 30, 2024, was $14.969 million, compared to $0.802 million for the same period in 2023, representing a significant increase[20] - The net loss attributable to shareholders for Q3 2024 was $8.1 million, or $(0.21) per share, an improvement from a net loss of $16.9 million, or $(0.43) per share, in Q2 2024[15] - The net loss for the three months ended September 30, 2024, was $8.129 million, compared to a net loss of $14.110 million for the same period in 2023, reflecting an improvement of about 42%[20] - The company reported a comprehensive income of $1.062 million for the three months ended September 30, 2024, compared to a comprehensive loss of $21.930 million for the same period in 2023[20] - The company recognized license revenue from related parties of $15.0 million for the three months ended September 30, 2024, compared to nil for the same period in 2023[20] Cash and Assets - As of September 30, 2024, Barinthus Bio reported cash, cash equivalents, and restricted cash of $106.1 million, down from $117.8 million as of June 30, 2024, with a net cash used in operating activities of $18.2 million in Q3 2024[9] - Cash, cash equivalents, and restricted cash as of September 30, 2024, totaled $106.102 million, down from $142.090 million as of December 31, 2023[19] - Total assets decreased to $188.689 million as of September 30, 2024, from $214.506 million as of December 31, 2023, representing a decline of approximately 12%[19] - Total liabilities increased to $29.228 million as of September 30, 2024, compared to $27.511 million as of December 31, 2023, indicating a rise of about 6%[19] - Total stockholders' equity attributable to Barinthus Biotherapeutics plc shareholders decreased to $159.294 million as of September 30, 2024, from $186.784 million as of December 31, 2023[19] Research and Development - Research and development expenses decreased to $11.1 million in Q3 2024 from $11.7 million in Q2 2024, mainly due to reduced personnel-related costs[11] - Research and development expenses for the three months ended September 30, 2024, were $11.139 million, down from $15.144 million in the same period of 2023, indicating a reduction of approximately 26%[20] - Enrollment in the HBV003 trial of VTP-300 for chronic hepatitis B was completed with 121 adult participants, aimed at obtaining critical dosing information for a potential functional cure[3] - The first-in-human Phase 1 AVALON trial of VTP-1000 for celiac disease was initiated in September 2024, evaluating safety and tolerability[5] - The PCA001 trial of VTP-850 for prostate cancer completed enrollment of 22 participants, with data expected in the first half of 2025[5] - Upcoming milestones include updated data from the VTP-300 program at the AASLD meeting scheduled for November 15-19, 2024[7] - An additional $15.0 million in revenue is expected from Oxford University Innovation related to royalties, which will support R&D plans into Q2 2026[6] Expenses - General and administrative expenses increased to $13.4 million in Q3 2024 from $7.2 million in Q2 2024, largely due to a foreign exchange loss of $7.7 million[14]

Core Insights - Barinthus Biotherapeutics plc is advancing its clinical trials and has reported financial results for Q3 2024, highlighting significant progress in its pipeline, particularly in chronic hepatitis B and celiac disease treatments [1][2]. Clinical Developments - The company completed enrollment in the HBV003 trial of VTP-300 for chronic hepatitis B with 121 adult participants, aiming for a potential functional cure [3]. - Interim data from the HBV003 trial showed that 76% of participants met criteria for nucleos(t)ide analogue therapy discontinuation, with 19% achieving undetectable HBsAg levels [4]. - The first-in-human Phase 1 AVALON trial of VTP-1000 for celiac disease was initiated, focusing on safety and pharmacokinetics [5]. - Enrollment for the PCA001 trial of VTP-850 in prostate cancer was completed with 22 participants, with data expected in the first half of 2025 [6]. Financial Performance - As of September 30, 2024, the company reported cash and equivalents of $106.1 million, down from $117.8 million at the end of Q2 2024, with a net cash usage of $18.2 million in Q3 [9]. - Revenue for Q3 2024 was $15.0 million, attributed to royalties from Oxford University Innovation, compared to no revenue in Q2 2024 [9]. - Research and development expenses decreased to $11.1 million in Q3 2024 from $11.7 million in Q2 2024, primarily due to reduced personnel costs [9][10]. - General and administrative expenses rose to $13.4 million in Q3 2024, largely due to a foreign exchange loss of $7.7 million [12]. - The net loss for Q3 2024 was $8.1 million, or $(0.21) per share, an improvement from a net loss of $16.9 million in Q2 2024 [12][19]. Upcoming Milestones - Updated data from the VTP-300 program is expected in Q4 2024, with presentations at the AASLD – The Liver Meeting® 2024 [7]. - Data from the Phase 1 AVALON trial of VTP-1000 is anticipated in the first half of 2025 [8]. - Results from the Phase 1 PCA001 trial of VTP-850 are also expected in the first half of 2025 [8].

Part I - Financial Information [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for the period ended June 30, 2024, including the balance sheet, statement of operations, statement of cash flows, and accompanying notes [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2024, total assets decreased to $186.7 million from $214.5 million, primarily due to a reduction in cash, cash equivalents, and restricted cash from $142.1 million to $117.8 million, while total liabilities slightly increased and stockholders' equity declined | | As of June 30, 2024 (in thousands) | As of December 31, 2023 (in thousands) | | :--- | :--- | :--- | | **Total Current Assets** | $131,879 | $156,905 | | **Total Assets** | $186,749 | $214,506 | | **Total Current Liabilities** | $15,589 | $12,598 | | **Total Liabilities** | $29,959 | $27,511 | | **Total Stockholders' Equity** | $156,790 | $186,995 | [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) For Q2 2024, the company reported no license revenue, with net loss narrowing to $16.9 million from $23.8 million year-over-year due to reduced operating expenses, resulting in a six-month net loss of $32.5 million | Metric (in thousands, except per share) | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--- | :--- | :--- | :--- | :--- | | **Total Revenue** | $0 | $334 | $0 | $802 | | **Total Operating Expenses** | $18,863 | $26,671 | $35,982 | $48,623 | | **Loss from Operations** | $(18,286) | $(26,337) | $(35,200) | $(47,821) | | **Net Loss** | $(16,943) | $(23,824) | $(32,463) | $(42,047) | | **Net Loss Per Share (basic & diluted)** | $(0.43) | $(0.62) | $(0.83) | $(1.10) | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the six months ended June 30, 2024, net cash used in operating activities increased to $23.8 million, while net cash used in investing activities significantly decreased to $0.5 million, with financing activities providing $0.9 million | Cash Flow Activity (in thousands) | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--- | :--- | :--- | | Net cash used in operating activities | $(23,828) | $(20,131) | | Net cash used in investing activities | $(500) | $(5,530) | | Net cash provided by financing activities | $861 | $1,717 | | **Net decrease in cash** | **$(24,316)** | **$(21,355)** | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes confirm the company's going concern status with sufficient cash for at least the next twelve months, detail a June 2024 pipeline prioritization that triggered an impairment assessment with no impairment found, and report $0.8 million in grant income from CEPI - The company expects its cash, cash equivalents, and restricted cash of **$117.8 million** will be sufficient to fund current operations for **at least the next twelve months** from the financial statement issuance date[16](index=16&type=chunk) - In June 2024, the company prioritized its pipeline to focus on VTP-300 for chronic Hepatitis B and VTP-1000 for celiac disease. This led to an impairment assessment for intangible assets and goodwill, but management determined their carrying amounts were recoverable[31](index=31&type=chunk)[49](index=49&type=chunk)[96](index=96&type=chunk) - The company received **$1.6 million** in proceeds from the CEPI Funding Agreement for the VTP-500 (MERS) program and recognized **$0.8 million** as other operating income during the six months ended June 30, 2024[34](index=34&type=chunk)[36](index=36&type=chunk) - As of June 30, 2024, the company had a contingent consideration liability of **$1.9 million** related to the acquisition of Avidea Technologies, Inc., which is fair valued at each reporting period[47](index=47&type=chunk) [Management's Discussion and Analysis (MD&A)](index=18&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the strategic shift to prioritize VTP-300 and VTP-1000 programs, highlighting a reduced net loss driven by lower G&A expenses, and confirms cash runway into Q2 2026 with future funding plans [Overview and Strategic Update](index=18&type=section&id=Overview%20and%20Strategic%20Update) Barinthus Bio, a clinical-stage biopharmaceutical company, strategically prioritized VTP-300 for chronic hepatitis B and VTP-1000 for celiac disease in June 2024, anticipating continued net losses as clinical programs advance - The company is prioritizing a pipeline of two key product candidates: VTP-300 for chronic hepatitis B virus (HBV) infection and VTP-1000 for celiac disease[63](index=63&type=chunk) - The company has an effective Shelf Registration Statement on Form S-3 for up to **$200.0 million** and an "at-the-market" (ATM) sales agreement for up to **$75.0 million**, under which it has raised net proceeds of **$3.8 million** as of June 30, 2024[65](index=65&type=chunk) - The company expects its existing cash, cash equivalents, and restricted cash will fund operating expenses and capital expenditure requirements **into the second quarter of 2026**[68](index=68&type=chunk) [Recent Developments and Pipeline](index=20&type=section&id=Recent%20Developments%20and%20Pipeline) In June 2024, the company presented positive interim Phase 2 data for VTP-300 in chronic hepatitis B, with further updates expected in Q4 2024, and anticipates IND acceptance and Phase 1 initiation for VTP-1000 in Q3 2024 | Priority Program | Indication | Status/Anticipated Milestones | | :--- | :--- | :--- | | **VTP-300** | Chronic Hepatitis B (HBV) | Phase 2b interim analysis & Phase 2a interim results (Q4 2024) | | **VTP-1000** | Celiac Disease | IND acceptance & Phase 1 initiation (Q3 2024) | - Interim data from the HBV003 trial showed robust T cell responses and that **76% of participants** were eligible for NUC discontinuation[74](index=74&type=chunk) - Interim data from the IM-PROVE II trial (in partnership with Arbutus Biopharma) showed **20% of participants** in the VTP-300 group had undetectable HBsAg at week 72, compared to none in the placebo group[76](index=76&type=chunk) [Results of Operations](index=25&type=section&id=Results%20of%20Operations) Q2 2024 net loss decreased to $16.9 million from $23.8 million in Q2 2023, driven by a **$5.9 million** reduction in G&A expenses and a **$1.9 million** decrease in R&D expenses, reflecting pipeline shifts and workforce reduction impacts | Expense Category (in thousands) | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | Change | | :--- | :--- | :--- | :--- | | Research and development | $11,662 | $13,543 | $(1,881) | | General and administrative | $7,201 | $13,128 | $(5,927) | | **Total operating expenses** | **$18,863** | **$26,671** | **$(7,808)** | - The decrease in R&D expenses for Q2 2024 was primarily due to a **$1.5 million** reduction in VTP-200 (HPV) program costs and a **$1.6 million** reduction in preclinical studies for the SNAP platform[102](index=102&type=chunk) - The decrease in G&A expenses for Q2 2024 was mainly due to a **$4.1 million** reduction in net foreign exchange loss, a **$0.6 million** decrease in professional costs, and a **$0.6 million** decrease in insurance costs[104](index=104&type=chunk) - For the six months ended June 30, 2024, G&A expenses decreased by **$12.1 million** year-over-year, primarily due to a gain on foreign exchange of **$1.1 million** compared to a loss of **$7.7 million** in the prior year period[113](index=113&type=chunk) [Liquidity and Capital Resources](index=29&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2024, the company held **$117.8 million** in cash, cash equivalents, and restricted cash, sufficient to fund operations into Q2 2026, with primary funding from equity placements, grants, and license payments, and plans for additional capital - As of June 30, 2024, the company had cash, cash equivalents and restricted cash of **$117.8 million**[118](index=118&type=chunk) - The company expects its existing cash and other financial resources will enable it to fund operating expenses and capital expenditure requirements **into the second quarter of 2026**[131](index=131&type=chunk) | Cash Flow Summary (in thousands) | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--- | :--- | :--- | | Net cash used in operating activities | $(23,828) | $(20,131) | | Net cash used in investing activities | $(500) | $(5,530) | | Net cash provided by financing activities | $861 | $1,717 | [Quantitative and Qualitative Disclosure About Market Risk](index=33&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosure%20About%20Market%20Risk) The company's primary market risk stems from foreign currency exchange rate fluctuations, particularly between USD and Pound Sterling, with interest rate risk considered minimal - The company is subject to risk from fluctuations in foreign currency exchange rates, specifically the Pound Sterling, Euro, Swiss Franc, and Australian Dollar, against its reporting currency, the U.S. Dollar[136](index=136&type=chunk) - **A hypothetical 10% weakening** in the U.S. dollar relative to the Pound Sterling would have resulted in a material change to expenses denominated in Pound Sterling[138](index=138&type=chunk) - Interest rate risk is not significant as the company has no major interest-bearing liabilities and **a hypothetical 10% change** in interest rates would not have a material impact[139](index=139&type=chunk) [Controls and Procedures](index=34&type=section&id=Item%204.%20Controls%20and%20Procedures) As of June 30, 2024, the company's CEO and CFO concluded that disclosure controls and procedures were effective, with no material changes to internal control over financial reporting during the quarter - Management, including the CEO and CFO, concluded that as of June 30, 2024, the company's disclosure controls and procedures were effective[142](index=142&type=chunk) - No change in internal control over financial reporting occurred during the quarter that has materially affected, or is reasonably likely to materially affect, internal controls[143](index=143&type=chunk) Part II - Other Information [Legal Proceedings](index=35&type=section&id=Item%201.%20Legal%20Proceedings) As of June 30, 2024, the company is not party to any legal proceedings expected to have a material adverse effect on its business - The company does not believe it is party to any claim or litigation that would be reasonably expected to have a material adverse effect on its business[145](index=145&type=chunk) [Risk Factors](index=35&type=section&id=Item%201A.%20Risk%20Factors) The company states there have been no material changes to the risk factors previously disclosed in its Annual Report on Form 10-K filed on March 20, 2024 - There have been no material changes from the risk factors previously disclosed in the most recent Annual Report on Form 10-K[146](index=146&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=36&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities during the three and six months ended June 30, 2024, and confirmed no material change in the planned use of IPO net proceeds - No unregistered sales of equity securities were made during the three and six months ended June 30, 2024[151](index=151&type=chunk) - There has been no material change in the planned use of the net proceeds from the IPO as described in the final prospectus[153](index=153&type=chunk)

Financial Performance - As of June 30, 2024, Barinthus Bio reported cash, cash equivalents, and restricted cash of $117.8 million, down from $130.0 million as of March 31, 2024, with a net cash used in operating activities of $12.0 million in Q2 2024[8] - The net loss for Q2 2024 was $16.9 million, or $(0.43) per share, compared to a net loss of $15.5 million, or $(0.40) per share in Q1 2024[10] - The net loss attributable to Barinthus Biotherapeutics plc shareholders for the three months ended June 30, 2024, was $16,931,000, compared to a net loss of $23,802,000 for the same period in 2023, reflecting an improvement of 29.0%[14] - Total operating expenses for the three months ended June 30, 2024, were $18,863,000, down 29.5% from $26,671,000 in the same period of 2023[14] - General and administrative expenses rose to $7.2 million in Q2 2024 from $6.0 million in Q1 2024, largely due to foreign exchange losses[10] - Research and development expenses for the six months ended June 30, 2024, were $22,787,000, compared to $23,357,000 for the same period in 2023, a decrease of 2.4%[14] Research and Development - Research and development expenses increased to $11.7 million in Q2 2024 from $11.1 million in Q1 2024, primarily due to the progression of VTP-300 through ongoing Phase 2 trials[8] - The company has prioritized the development of VTP-300 for chronic hepatitis B and VTP-1000 for celiac disease following positive interim data[4] - The company plans to initiate the first human clinical trial of VTP-1000 for celiac disease in Q3 2024[5] - Interim data from the HBV003 trial indicated that nearly 20% of participants had undetectable HBsAg maintained for ≥16 weeks, and 76% were eligible for NUC discontinuation[3] - In the IM-PROVE II trial, 20% of participants in the VTP-300 treatment group had undetectable HBsAg at Week 72, compared to none in the placebo group[3] - Barinthus Bio expects to announce updated interim data from the HBV003 trial in Q4 2024[5] Assets and Liabilities - Total assets decreased from $214,506,000 on December 31, 2023, to $186,749,000 on June 30, 2024, representing a decline of approximately 12.9%[13] - Total current assets decreased from $156,905,000 to $131,879,000, a reduction of about 16.0%[13] - Total liabilities increased from $27,511,000 to $29,959,000, an increase of approximately 8.9%[13] - The accumulated deficit increased from $176,590,000 to $209,010,000, reflecting a rise of about 18.3%[13] - Cash and cash equivalents decreased from $142,090,000 to $117,774,000, a decline of about 17.1%[13] Shareholder Information - The weighted-average ordinary shares outstanding increased from 38,407,672 in June 30, 2023, to 39,041,111 in June 30, 2024, indicating a growth of approximately 1.6%[14] - The company reported no license revenue for the three months ended June 30, 2024, compared to $334,000 for the same period in 2023[14]

SAN MATEO, Calif., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Sagimet Biosciences Inc. (Sagimet, Nasdaq: SGMT), a clinical-stage biopharmaceutical company developing novel fatty acid synthase (FASN) inhibitors designed to target dysfunctional metabolic and fibrotic pathways, today announced the appointments of two biotechnology industry leaders, Anne Phillips and Jennifer Jarrett, to the board of directors of the Company, effective August 1, 2024. "We are thrilled to welcome Anne and Jennifer to our board as we prep ...

Core Insights - Barinthus Biotherapeutics plc is prioritizing the development of VTP-300 for chronic Hepatitis B (CHB) and VTP-1000 for celiac disease, while completing the ongoing Phase 1 trial of VTP-850 for prostate cancer [1][2][5] - The company plans to restructure its operations, which will include a workforce reduction of approximately 25% and an extension of its cash runway into the second quarter of 2026 [2][4] Pipeline Focus - VTP-300 is designed as a potential component of a functional cure for chronic HBV infection, with recent Phase 2 interim data showing its ability to significantly reduce and maintain Hepatitis B surface antigen (HBsAg) levels [5][9] - VTP-1000 aims to treat celiac disease by balancing the immune response through the induction of gluten-specific T regulatory cells, with a Phase 1 clinical trial expected to start in the third quarter of 2024 [5][9] Company Overview - Barinthus Biotherapeutics is a clinical-stage biopharmaceutical company focused on T cell immunotherapeutic candidates for chronic infectious diseases, autoimmunity, and cancer [3][9] - The company utilizes three proprietary platform technologies: ChAdOx, MVA, and SNAP, to advance its product candidates [3]

Core Insights - Barinthus Bio is prioritizing the development of VTP-300 for chronic Hepatitis B (CHB) and VTP-1000 for celiac disease, which is expected to lead to a workforce reduction of approximately 25% and extend the cash runway into the second quarter of 2026 [1][8]. Group 1: Pipeline Development - The decision to prioritize VTP-300 and VTP-1000 follows positive interim data from ongoing Phase 2 clinical trials, indicating VTP-300's potential to significantly reduce and maintain Hepatitis B surface antigen (HBsAg) levels [2][3]. - VTP-1000 aims to balance the immune response in celiac disease by inducing gluten-specific T regulatory cells while reducing gluten-specific T effector cell responses, with a Phase 1 clinical trial expected to start in Q3 2024 [2][4]. Group 2: Company Strategy - The restructuring aligns resources with the streamlined pipeline, focusing on immunotherapies to transform patients' lives, particularly in chronic infectious diseases and autoimmunity [3][4]. - The company emphasizes its commitment to advancing its promising pipeline and is optimistic about upcoming clinical milestones in both HBV and celiac disease programs [3][4].

Core Insights - Barinthus Biotherapeutics presented updated data from two clinical trials for chronic hepatitis B (CHB) at the EASL Congress 2024, highlighting the efficacy of VTP-300 in maintaining low HBsAg levels and the potential for NUC therapy discontinuation [4][6][9] Group 1: Trial Results - In the HBV003 trial, 67% of participants had HBsAg levels below 10 IU/mL, and 19% had undetectable HBsAg at the end of treatment or later, with 76% eligible for NUC therapy discontinuation [1][5] - The IM-PROVE II trial showed a statistically significant difference in HBsAg levels between the VTP-300 treatment group and placebo at 24 weeks post-treatment, with 84% of VTP-300 participants discontinuing standard NUC therapy compared to 53% in the placebo group [1][2][8] Group 2: Treatment Tolerability - Both VTP-300 and imdusiran were generally well-tolerated, with no serious adverse events reported, and the most common treatment-related adverse event was thyroid dysfunction in 9% of participants [5][6][8] - Robust T cell responses were observed, indicating a strong immune response to the treatment [5][6] Group 3: Future Directions - The company is eager to see further data from the ongoing trials, particularly regarding the combination of VTP-300 with nivolumab, which could advance towards a potential functional cure for hepatitis B [3][6] - An additional cohort in the IM-PROVE II trial is expected to provide preliminary data in the second half of 2024, focusing on the combination of imdusiran and VTP-300 with low doses of nivolumab [13]

Financial Performance - Revenue for Q1 2024 was nil, down from $0.5 million in Q1 2023, attributed to no commercial sales of Vaxzevria® by AstraZeneca[6] - Net loss for Q1 2024 was $15.5 million, or $(0.40) per share, compared to a net loss of $18.2 million, or $(0.48) per share in Q1 2023[20] - The net loss attributable to Barinthus Biotherapeutics plc shareholders was $15,489 thousand for Q1 2024, compared to a net loss of $18,180 thousand in Q1 2023, indicating an improvement of about 14.8%[27] - The comprehensive loss attributable to Barinthus Biotherapeutics plc shareholders was $17,069 thousand in Q1 2024, compared to a comprehensive loss of $13,606 thousand in Q1 2023, reflecting a worsening of about 25.5%[27] - Total operating expenses decreased to $17,119 thousand in Q1 2024 from $21,952 thousand in Q1 2023, a decline of approximately 22%[27] Research and Development - Research and development expenses increased to $11.1 million in Q1 2024 from $9.8 million in Q1 2023, primarily due to personnel hiring and program advancements[18] - Research and development expenses increased to $11,125 thousand in Q1 2024, compared to $9,814 thousand in Q1 2023, reflecting a rise of about 13.3%[27] - VTP-200 (HPV) trial met its primary safety endpoint, showing no treatment-related grade 3 or higher adverse events, with a 60% clearance rate for hrHPV in the highest dose group[3] - Positive trends in clearance rates for cervical lesions were observed in the VTP-200 trial, with a 67% clearance rate in specific groups[3] - VTP-1000 (Celiac Disease) received FDA clearance for a Phase 1 trial, expected to begin in the coming months[1] - The company plans to dose the first patient in the VTP-1000 trial in Q3 2024, based on updated feasibility timelines[16] - Upcoming EASL Congress in June 2024 will feature interim data presentations for VTP-300 (HBV) trials[14] - The company has a broad pipeline with five product candidates targeting chronic infectious diseases, autoimmunity, and cancer, leveraging three proprietary platform technologies[25] - The company is focused on advancing its pipeline development to deliver treatments for serious diseases impacting patients' everyday lives[25] Cash Position and Assets - Cash position as of March 31, 2024, was $130.0 million, down from $142.1 million as of December 31, 2023, with cash used in operating activities at $11.8 million[17] - Total assets decreased to $199,482 thousand as of March 31, 2024, down from $214,506 thousand on December 31, 2023, representing a decline of approximately 7%[22] - The company anticipates its cash runway to fund operations into Q4 2025 based on current R&D plans[17] Shareholder Information - The weighted-average ordinary shares outstanding increased to 38,773,482 in Q1 2024 from 38,013,399 in Q1 2023, representing an increase of approximately 2%[27] - General and administrative expenses significantly decreased to $5,994 thousand in Q1 2024 from $12,138 thousand in Q1 2023, a reduction of approximately 50.7%[24] - Barinthus Bio reported no license revenue for Q1 2024, compared to $0.5 million in Q1 2023[23]

OXFORD, United Kingdom, May 13, 2024 (GLOBE NEWSWIRE) -- Barinthus Biotherapeutics plc (NASDAQ:BRNS), a clinical-stage biopharmaceutical company developing novel T cell immunotherapeutic candidates designed to guide the immune system to overcome chronic infectious diseases, autoimmunity, and cancer, announced its financial results for the first quarter of 2024 and provided an overview of the Company's progress. "So far in 2024 we have continued to make strides across our programs. Notably, we received clear ...