Third Harmonic Bio(US:THRD)2024-08-08 12:05Financial Performance - Net loss for Q2 2024 was $10.7 million, compared to a net loss of $7.6 million in Q2 2023, representing a 40.9% increase[4] - General and administrative (G&A) expenses rose to $5.7 million for Q2 2024, slightly up from $5.4 million in Q2 2023[4] - Total operating expenses for the six months ended June 30, 2024, were $25.4 million, compared to $22.7 million for the same period in 2023[8] Cash Position - Cash and cash equivalents totaled $255.3 million as of June 30, 2024, sufficient to fund operations through at least 2026[3] - Total liabilities increased to $9.1 million as of June 30, 2024, from $8.6 million as of December 31, 2023[7] Research and Development - Research and development (R&D) expenses increased to $8.4 million for Q2 2024, up from $5.3 million in Q2 2023, reflecting a 58.5% increase[3] - R&D expenses for the six months ended June 30, 2024, increased to $14.6 million from $12.1 million for the same period in 2023, a 20.7% increase[3] - The Phase 1 SAD/MAD clinical trial of THB335 is on track to report results in Q1 2025[2] - The company is preparing to move THB335 into a Phase 2 clinical trial for chronic spontaneous urticaria[2] Shareholder Information - The weighted-average common stock outstanding for the six months ended June 30, 2024, was 40,384,338 shares[8]