Generation Bio(US:GBIO)2024-08-07 20:10Financial Performance - Cash, cash equivalents, and marketable securities were $216.9 million as of June 30, 2024, down from $264.4 million as of December 31, 2023[2] - Net loss for Q2 2024 was $20.4 million, or $0.31 per share, compared to a net loss of $31.1 million, or $0.47 per share, in Q2 2023, indicating an improvement of approximately 34%[2] - Total operating expenses for Q2 2024 were $27.4 million, down from $34.8 million in Q2 2023, reflecting a decrease of about 21%[7] Research and Development - Research and development (R&D) expenses decreased to $16.4 million for Q2 2024 from $21.8 million in Q2 2023, representing a reduction of approximately 25%[2] - The company is developing a novel immune-quiet DNA (iqDNA) cargo designed to express or replace large genes for long-term therapeutic protein expression[3] Administrative Expenses - General and administrative (G&A) expenses were $9.5 million for Q2 2024, down from $13.0 million in Q2 2023, a decrease of about 27%[2] Revenue Growth - Collaboration revenue increased to $4.1 million in Q2 2024 from $0.88 million in Q2 2023, showing a significant growth[7] Future Outlook - The company expects its cash resources to fund operations into the second half of 2027[2] Product Development Focus - Generation Bio is focused on developing in vivo T cell therapies for autoimmune indications and therapies for sickle cell disease and beta-thalassemia[1] - The proprietary cell-targeted lipid nanoparticle (ctLNP) delivery system aims to create differentiated in vivo therapeutics that are redosable and scalable at low cost[1]