Zura(ZURA)2024-08-13 13:29Financial Performance - Net loss for Q2 2024 was 0.17 per share, compared to a net loss of 1.31 per share, in Q2 2023[5] - Net loss attributable to Class A Ordinary Shareholders of Zura was 44,900,000 in 2023[13] - Net loss per share attributable to Class A Ordinary Shareholders was 1.31 in the prior year[13] - Loss from operations for June 2024 was 33,905,000 in 2023[13] - The company reported a loss before income taxes of (34,025,000) in 2023[13] Cash and Investments - Zura Bio reported cash, cash equivalents, and investments of 99.8 million as of December 31, 2023[3] - The company raised approximately 189.5 million as of June 30, 2024, compared to 100.8 million as of December 31, 2023[12] Research and Development - Research and Development (R&D) expenses decreased to 5.5 million in Q2 2024, down from 27.2 million expense related to the acquisition of tibulizumab in Q2 2023[4] - Research and development expenses amounted to 28,230,000 in the previous year[13] - The company anticipates utilizing external data readouts to inform the initial indication selection for crebankitug by the end of 2024[7] - Zura Bio expects to initiate Phase 2 studies for tibulizumab in systemic sclerosis (SSc) in Q4 2024 and in hidradenitis suppurativa (HS) in Q2 2025[1] Operating Expenses - General and Administrative (G&A) expenses increased to 5.7 million in Q2 2023[5] - Total operating expenses for June 2024 were 33,905,000 in 2023[13] - Total other income/expense, net was 120,000 in the previous year[13] - Interest income for the period was $(2,196,000), with no interest income reported in the prior year[13] Corporate Developments - Zura Bio established a Scientific Advisory Board in June 2024, comprising leading experts in rheumatology, dermatology, and immunology[2] - The company completed a warrant exchange program in August 2024 to simplify its capital structure[2]