Financial Performance - Net losses for Edgewise Therapeutics were 133.8millionin2024,upfrom100.2 million in 2023, reflecting an increase of 33.6million[655].−Thenetlossfor2024was133.8 million, compared to a net loss of 100.2millionin2023,indicatinga33133.5 million, compared to 98.7millionin2023,representinga35133.8 million for the year ended December 31, 2024, compared to a net loss of 100.2millionfor2023,representinga33.5127.0 million in 2024 from 90.9millionin2023,anincreaseof36.1 million [672]. - Research and development expenses for the year ended December 31, 2024, were 127.0million,up4090.9 million in 2023 [734]. - The sevasemten clinical program incurred 51.7millioninexpensesin2024,upfrom34.8 million in 2023, a rise of 16.8million[673].−EDG−7500clinicalprogramexpensesincreasedby8.9 million to 17.9millionin2024,primarilyduetotheactivationofthePhase2CIRRUS−HCMtrial[673].−Researchanddevelopmentexpensesincreasedto80.2 million in 2024 from 57.5millionin2023,reflectinga39.46.5 million as of December 31, 2024, compared to 5.7millionin2023,indicatinganincreaseof14.4470.2 million [679]. - Cash used in investing activities in 2024 amounted to 184.7million,primarilydueto477.1 million in purchases of marketable securities, offset by 277.9millioninmaturitiesofmarketablesecurities[685].−Cashprovidedbyfinancingactivitiesin2024was249.3 million, significantly higher than 53.2millionin2023,drivenby239.1 million in net proceeds from the issuance of common stock [687][688]. - Cash flows from operating activities resulted in a net cash used of 109.0millionin2024,upfrom91.9 million in 2023, indicating an 18.5% increase in cash outflow [739]. - Cash and cash equivalents decreased to 41.7millionin2024from86.1 million in 2023, a decline of 52% [733]. - The company believes its cash and marketable securities will be sufficient to fund operations for at least the next 12 months [749]. Capital and Financing - The company expects significant additional spending to progress its product candidates through clinical trials and regulatory approval [660]. - The company expects to require substantial additional capital to develop product candidates and fund operations, with a shelf registration statement filed for equity and debt offerings of up to 175million[689].−Thecompanyraised240.0 million in gross proceeds from an underwritten registered direct offering of 21,818,182 shares at 11.00pershareinJanuary2024[745].−Thecompanyhasenteredintoasalesagreementallowingforthepotentialsaleofupto175.0 million in common stock through an at-the-market offering program [746]. Operational Expenses - General and administrative expenses increased to 31.9millionin2024from23.5 million in 2023, an increase of 8.4million[677].−Thecompanyreportedtotaloperatingexpensesof158.8 million for 2024, a 39% increase from 114.4millionin2023[734].−Non−cashchargesinoperatingactivitiesfor2024includedstock−basedcompensationexpenseof24.7 million and depreciation of 2.1million[683].ShareholderEquityandStockOptions−Theweighted−averagesharesoutstandingincreasedto92.4millionin2024from63.7millionin2023,reflectinga45837.4 million in 2024 from 563.5millionin2023,markinga489.40 and total intrinsic value of 267.4million[787].−Thetotalstock−basedcompensationexpensefortheyearendedDecember31,2024was24.7 million, an increase from 17.6millionin2023[800].−Thecompanygranted2,817,497stockoptionsin2024ataweightedaverageexercisepriceof17.67 [787]. Compliance and Regulatory - The company ceased to be an "emerging growth company" and "smaller reporting company" as of December 31, 2024, which is expected to increase public company compliance costs [711][712]. - The company maintained effective internal control over financial reporting as of December 31, 2024, according to the auditor's opinion [719]. Marketable Securities - As of December 31, 2024, the total fair value of marketable securities was 469,978,000,withunrealizedgainsof530,000 and unrealized losses of 110,000[768].−Theremainingcontractualmaturitiesof394.4 million of marketable securities were less than one year, and $33.7 million were between 1 and 2 years as of December 31, 2024 [769]. - The company has not recognized any impairment charges for long-lived assets during the years ended December 31, 2024, and 2023 [762].
