Financial Position - Contineum Therapeutics reported a strong cash position of $214 million at the end of Q3 2024, expected to support operations through 2027[1]. - Contineum's total assets increased to $216 million as of September 30, 2024, compared to $130.4 million at the end of 2023[9]. Clinical Trials and Development - As of September 30, 2024, Contineum achieved two-thirds enrollment in its VISTA trial for PIPE-307, ahead of initial projections, with full enrollment expected in the first half of 2025[2]. - Contineum plans to initiate a Phase 1b open-label clinical trial of PIPE-791 in December 2024, pending authorization from the MHRA[3]. - The company anticipates multiple potential clinical readouts in 2025, supported by its strong cash balance[2]. - Contineum expects to nominate a development candidate from its discovery portfolio by the end of 2024[4]. - The company has a pipeline focused on high unmet needs in neuroscience, inflammation, and immunology indications[7]. Expenses and Losses - Research and development expenses increased to $9.7 million in Q3 2024, up from $6.5 million in Q3 2023, primarily due to ongoing clinical trials and toxicology studies[5]. - General and administrative expenses rose to $3.3 million in Q3 2024, compared to $1.6 million in Q3 2023, driven by increases in stock-based compensation and personnel-related expenses[6]. - The net loss for Q3 2024 was $10.3 million, compared to a net loss of $6.3 million in Q3 2023[10].
Contineum Therapeutics, Inc.(CTNM) - 2024 Q3 - Quarterly Results