Workflow
Zura(ZURA) - 2024 Q3 - Quarterly Results
ZURAZura(ZURA)2024-11-07 11:51

Financial Performance - Cash and cash equivalents totaled 188.2millionasofSeptember30,2024,upfrom188.2 million as of September 30, 2024, up from 99.8 million as of December 31, 2023, indicating a significant increase of 88.4%[7] - The net loss for Q3 2024 was 22.9million,or22.9 million, or 0.26 per share, compared to a net loss of 8.3million,or8.3 million, or 0.18 per share, for the same period in 2023[10] - The accumulated deficit increased to 142.3millionasofSeptember30,2024,from142.3 million as of September 30, 2024, from 103.5 million as of December 31, 2023[17] Expenses - Research and development expenses for Q3 2024 were 6.0million,anincreaseof506.0 million, an increase of 50% compared to 4.0 million for the same period in 2023[8] - General and administrative expenses rose to 13.3millioninQ32024,up114.513.3 million in Q3 2024, up 114.5% from 6.2 million in Q3 2023, primarily due to a one-time non-cash expense of 5.3millioninshare−basedcompensation[9]ClinicalTrials−ThePhase2clinicaltrialfortibulizumabinsystemicsclerosisisexpectedtoinitiateinQ42024,withtheprotocolfinalizedinSeptember2024[3]−Athird−partyCROhasbeenselectedtooverseethePhase2clinicalprogramfortibulizumabinhidradenitissuppurativa,withtrialinitiationanticipatedinQ22025[3]CapitalStructure−ThecompanycompletedawarrantexchangeprograminAugust2024,simplifyingitscapitalstructure[6]−An"at−the−market"(ATM)programisinplaceasofSeptember2024,providingincreasedfinancialflexibilityforthecompany[6]Assets−ThetotalassetsasofSeptember30,2024,were5.3 million in share-based compensation[9] Clinical Trials - The Phase 2 clinical trial for tibulizumab in systemic sclerosis is expected to initiate in Q4 2024, with the protocol finalized in September 2024[3] - A third-party CRO has been selected to oversee the Phase 2 clinical program for tibulizumab in hidradenitis suppurativa, with trial initiation anticipated in Q2 2025[3] Capital Structure - The company completed a warrant exchange program in August 2024, simplifying its capital structure[6] - An "at-the-market" (ATM) program is in place as of September 2024, providing increased financial flexibility for the company[6] Assets - The total assets as of September 30, 2024, were 189.1 million, compared to $100.8 million as of December 31, 2023[15]