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Lisata Therapeutics(LSTA) - 2024 Q4 - Annual Results
LSTALisata Therapeutics(LSTA)2025-02-27 21:06

Revenue - For the year ended December 31, 2024, revenue totaled 1.0millionfromanupfrontlicensefeerelatedtotheExclusiveLicenseandCollaborationAgreementwithKuvaLabs,Inc.,comparedtonorevenuein2023[9]−RevenueforthetwelvemonthsendedDecember31,2024,was1.0 million from an upfront license fee related to the Exclusive License and Collaboration Agreement with Kuva Labs, Inc., compared to no revenue in 2023[9] - Revenue for the twelve months ended December 31, 2024, was 1,000, compared to 0in2023[22]OperatingExpenses−Operatingexpensesfor2024were0 in 2023[22] Operating Expenses - Operating expenses for 2024 were 23.4 million, a decrease of 2.3millionor8.92.3 million or 8.9% from 25.7 million in 2023[9] - Total operating expenses for 2024 were 23,409,adecreaseof923,409, a decrease of 9% from 25,708 in 2023[22] Research and Development Expenses - Research and development expenses were approximately 11.3millionin2024,down11.011.3 million in 2024, down 11.0% from 12.7 million in 2023, primarily due to reduced expenses associated with the Phase 2b ASCEND trial[10] - Research and development expenses decreased to 11,334,downfrom11,334, down from 12,734 in 2023, representing a reduction of approximately 11%[22] General and Administrative Expenses - General and administrative expenses were approximately 12.1millionin2024,adecreaseof6.912.1 million in 2024, a decrease of 6.9% from 13.0 million in 2023[11] - General and administrative expenses decreased to 12,075,downfrom12,075, down from 12,974 in 2023, a decrease of about 7%[22] Net Loss - Net losses for the years ended December 31, 2024, and 2023 were 20.0millionand20.0 million and 20.8 million, respectively[12] - The net loss attributable to Lisata Therapeutics, Inc. common stockholders for 2024 was 19,985,comparedtoanetlossof19,985, compared to a net loss of 20,840 in 2023, reflecting a reduction of approximately 4%[22] - Basic and diluted loss per share attributable to common stockholders improved to 2.40in2024from2.40 in 2024 from 2.58 in 2023[22] Cash and Assets - As of December 31, 2024, cash, cash equivalents, and marketable securities totaled approximately 31.2million,supportingoperationsintothesecondquarterof2026[13]−Cash,cashequivalents,andmarketablesecuritiesdecreasedto31.2 million, supporting operations into the second quarter of 2026[13] - Cash, cash equivalents, and marketable securities decreased to 31,245 as of December 31, 2024, down from 50,535in2023,adeclineofapproximately3850,535 in 2023, a decline of approximately 38%[22] - Total assets decreased to 35,002 in 2024 from 54,694in2023,areductionofabout3654,694 in 2023, a reduction of about 36%[22] - Total liabilities decreased to 5,685 in 2024 from 6,800in2023,adecreaseofapproximately166,800 in 2023, a decrease of approximately 16%[22] - Total equity decreased to 29,317 in 2024 from 47,894in2023,reflectingadeclineofabout3947,894 in 2023, reflecting a decline of about 39%[22] Clinical Trials and Collaborations - Certepetide has shown a positive trend in overall survival in the ASCEND trial, with four complete responses in the treatment group compared to none in the placebo group[4] - Enrollment in the BOLSTER trial for first-line cholangiocarcinoma was completed nearly six months ahead of schedule, with topline data expected in mid-2025[7] - Lisata has entered into multiple research collaborations, including a partnership with Valo Therapeutics to investigate the combination of certepetide with their platform technology for melanoma treatment[6] Funding - The company received 0.9 million in non-dilutive funding through the Technology Business Tax Certificate Transfer Program, selling 19.6millionintaxbenefitsfornetproceedsof19.6 million in tax benefits for net proceeds of 18.4 million[14]