Zura(US:ZURA)2024-11-07 11:51Financial Performance - Cash and cash equivalents totaled $188.2 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 $22.9 million, or $0.26 per share, compared to a net loss of $8.3 million, or $0.18 per share, for the same period in 2023[10] - The accumulated deficit increased to $142.3 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 $6.0 million, an increase of 50% compared to $4.0 million for the same period in 2023[8] - General and administrative expenses rose to $13.3 million in Q3 2024, up 114.5% from $6.2 million in Q3 2023, primarily due to a one-time non-cash expense of $5.3 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]