Mural Oncology plc(MURA) - 2024 Q4 - Annual Results

Financial Performance - As of December 31, 2024, cash, cash equivalents, and marketable securities were $144.4 million, down from$270.9 million in 2023[12][25] - Net loss for Q4 2024 was $34.3 million, significantly reduced from$59.5 million in Q4 2023[16] - For the three months ended December 31, 2024, the net loss was $34,274,000 compared to a net loss of$59,537,000 for the same period in 2023, representing a 42.4% improvement[27] - The net loss per ordinary share for the year ended December 31, 2024, was $7.58, compared to$12.43 in 2023, showing a 39.5% improvement[27] - The operating loss for the year ended December 31, 2024, was $138,262,000, down from$196,238,000 in 2023, a decrease of 29.6%[27] Expenses - Research and development expenses for Q4 2024 were $28.7 million, a decrease of 32$42.2 million in Q4 2023[13] - General and administrative expenses for Q4 2024 were $7.2 million, down 56$16.3 million in Q4 2023[15] - Total operating expenses for the year ended December 31, 2024, were $138,262,000, down from$196,238,000 in 2023, indicating a reduction of 29.6%[27] - Research and development expenses decreased to $110,666,000 in 2024 from$165,532,000 in 2023, reflecting a 33.1% decline[27] - General and administrative expenses decreased to $27,596,000 in 2024 from$30,706,000 in 2023, a reduction of 6.9%[27] Assets and Equity - The total assets as of December 31, 2024, were $169.4 million, a decrease from$301.7 million in 2023[25] - Total equity as of December 31, 2024, was $140.5 million, down from$263.8 million in 2023[25] Income and Other Financial Metrics - Other income for the year ended December 31, 2024, was $9,748,000, significantly higher than$951,000 in 2023[27] - The company reported an increase in other income for the three months ended December 31, 2024, to $1,580,000 from$951,000 in the same period of 2023[27] - The income tax provision for the year ended December 31, 2024, was zero, compared to a provision of $12,160,000 in 2023[27] Clinical Trials and Future Plans - The ARTISTRY-7 trial reached 75% of overall survival events necessary for the planned interim analysis, expected in late Q1/early Q2 2025[3][6] - Top-line data from the ARTISTRY-6 trial in mucosal melanoma is expected in Q2 2025, with a target response rate of 25%[7] - The company plans to submit a Biologics License Application (BLA) for nemvaleukin in combination with pembrolizumab in 2025 if the interim analysis meets the pre-specified hazard ratio of 0.727[6] Cash Runway - Mural's cash runway has been extended into Q1 2026 through operational efficiencies[1] - The weighted average ordinary shares outstanding increased to 16,954,577 in 2024 from 16,689,740 in 2023[27]