Vigil Neuroscience(VIGL) - 2024 Q3 - Quarterly Results

Financial Performance - Vigil Neuroscience reported a net loss of $19.3 million for Q3 2024, a decrease from a net loss of$20.5 million in Q3 2023[6]. - Total operating expenses for Q3 2024 were $20.7 million, compared to$22.3 million for Q3 2023[10]. - Vigil's total liabilities increased to $42.7 million as of September 30, 2024, compared to$24.6 million at the end of 2023[11]. Cash and Securities - Cash, cash equivalents, and marketable securities increased to $111.3 million as of September 30, 2024, up from$86.7 million as of June 30, 2024[6]. Research and Development - Research and Development (R&D) expenses for Q3 2024 were $13.8 million, down from$15.4 million in Q3 2023, reflecting a decrease in manufacturing activities for iluzanebart[6]. - Interim data from the Phase 1 clinical trial of VG-3927 showed a robust decrease in soluble TREM2 in the CSF, indicating clinical proof-of-target engagement[5]. - Vigil expects to report complete Phase 1 clinical data for VG-3927, including data from the Alzheimer's disease patient cohort, in the first quarter of 2025[5]. Clinical Trials - The final analysis from the IGNITE Phase 2 clinical trial for iluzanebart is planned for the first half of 2025[4]. - The FDA removed the partial clinical hold on the Phase 1 clinical trial of VG-3927 in September 2024[5]. Market Insights - The estimated U.S. prevalence of ALSP is now approximately 19,000, up from a previous estimate of 10,000[4].