Financial Performance - The company completed its initial public offering (IPO) in April 2024, selling 6,250,000 shares for gross proceeds of $100.0 million, raising a total of $353.6 million by September 30, 2024[130]. - As of September 30, 2024, the company had cash, cash equivalents, and short-term investments totaling $167.1 million, which is expected to fund operations into the fourth quarter of 2026[130]. - The company recognized incremental non-cash stock-based compensation expense of $857,000 due to option repricing, with $34,000 recognized during the three and nine months ended September 30, 2024[139][140]. - As of September 30, 2024, unrecognized compensation cost related to outstanding time-based options was $20.1 million, expected to be recognized over a weighted-average period of 2.7 years[143]. - The weighted-average grant date fair value of options granted during the three months ended September 30, 2024, was $7.25, compared to $3.23 in the same period of 2023[145]. Research and Development - The company is advancing its third ecDTx program, targeting a kinesin essential for ecDNA segregation, with an Investigational New Drug application (IND) expected in the first half of 2026[127]. - The company has preclinically validated multiple additional ecDNA targets and initiated drug discovery efforts against these targets, retaining global rights for all programs[128]. - The company expects general and administrative (G&A) expenses to increase substantially as it expands headcount to support R&D and potential commercialization activities[136]. Operations and Infrastructure - The company recorded a right-of-use (ROU) asset of $45.8 million and a related lease liability of $45.3 million in November 2024[148]. - The company plans to rely on third parties for the manufacture of its ecDTx, maintaining an efficient infrastructure without investing in its own manufacturing facilities[131].
Boundless Bio, Inc.(BOLD) - 2024 Q3 - Quarterly Report