Vigil Neuroscience(VIGL) - 2024 Q4 - Annual Results

Clinical Trials - Positive Phase 1 data for VG-3927 indicates a robust and dose-dependent reduction of sTREM2 by up to approximately 50% in the cerebral spinal fluid, supporting its advancement to Phase 2 trial[6] - The final analysis from the IGNITE Phase 2 clinical trial for iluzanebart is planned for the second quarter of 2025, with an intention to pursue an accelerated approval pathway[3] - The company plans to initiate the Phase 2 trial for VG-3927 in Q3 2025, marking it as the first and only Phase 2-ready oral small molecule TREM2 agonist[2] - The Phase 1 trial for VG-3927 included 115 participants, with 89 receiving the drug, demonstrating a favorable safety and tolerability profile[6] - The company expects to present Phase 1 data at the AD/PD™ 2025 International Conference on Alzheimer's and Parkinson's Disease in April 2025[6] Financial Performance - Cash, cash equivalents, and marketable securities were $97.8 million as of December 31, 2024, down from$111.3 million as of September 30, 2024, expected to fund operations into 2026[6] - Research and Development (R&D) expenses increased to $62.3 million for the year ended December 31, 2024, compared to$60.9 million in 2023, driven by increased clinical activity[6] - General and Administrative (G&A) expenses decreased to $27.4 million for the year ended December 31, 2024, from$27.9 million in 2023, attributed to lower external professional service fees[6] - Net loss for the fourth quarter was $23.8 million, compared to$22.2 million for the same period in 2023, with a total net loss of $84.3 million for the year ended December 31, 2024[6] - Total assets decreased to$117.7 million as of December 31, 2024, from $140.9 million in 2023, while total liabilities increased to$46.1 million from $24.6 million[13]