Nkarta(US:NKTX)2024-11-07 21:11Financial Performance - Nkarta reported a cash balance of $405.3 million as of September 30, 2024, expected to fund operations into late 2027[6]. - Research and development (R&D) expenses for Q3 2024 were $25.3 million, with a net loss of $28.3 million or $0.39 per share[6][19]. - Total operating expenses for Q3 2024 were $33.8 million, compared to $29.3 million in Q3 2023[19]. - General and administrative (G&A) expenses for Q3 2024 were $8.5 million, with non-cash stock-based compensation of $2.3 million included[6][19]. - Nkarta's total assets increased to $532.0 million as of September 30, 2024, up from $378.9 million at the end of 2023[20]. Clinical Trials and Development - The first patient was dosed in both the Ntrust-1 trial for lupus nephritis and the investigator-sponsored trial for systemic lupus erythematosus[2][3]. - Enrollment in the Ntrust-2 trial is expected to begin by year-end 2024, targeting systemic sclerosis, myositis, and vasculitis[4]. - Nkarta will not pursue further development of NKX019 in non-Hodgkin lymphoma, focusing instead on autoimmune diseases[5][2]. - Preliminary clinical data from Ntrust-1 and Ntrust-2 trials is planned for release in 2025[4]. - The company aims to report final data from the LBCL cohort at a future medical conference[5].