Lisata Therapeutics(LSTA) - 2024 Q3 - Quarterly Results

Financial Performance - For Q3 2024, operating expenses totaled $5.3 million, a decrease of $0.6 million or 10.5% compared to Q3 2023[12] - Net losses for Q3 2024 were $4.9 million, compared to $5.3 million in Q3 2023[14] - Basic and diluted loss per share attributable to common stockholders was $0.59 for Q3 2024, compared to $0.65 for Q3 2023[21] - The net loss for Q3 2024 was $4,930,000, compared to a net loss of $5,261,000 in Q3 2023, reflecting a 6.3% improvement[21] - Investment income for Q3 2024 was $451,000, a decrease from $714,000 in Q3 2023[21] Research and Development - Research and development expenses were approximately $2.5 million, down $0.8 million or 24.8% from $3.4 million in Q3 2023, primarily due to reduced clinical research organization expenses[13] - Research and development expenses for Q3 2024 were $2,542,000, a decrease of 25% from $3,380,000 in Q3 2023[21] - The ASCEND trial is a Phase 2b study evaluating certepetide in combination with SoC chemotherapy for metastatic pancreatic ductal adenocarcinoma, with data from 95 patients expected in January 2025[3] - The BOLSTER trial achieved complete enrollment in first-line cholangiocarcinoma nearly six months ahead of schedule, with topline data anticipated in mid-2025[4] - The CENDIFOX trial is expected to complete enrollment in pancreatic, colon, and appendiceal cancer cohorts by the end of 2024[6] - Lisata has entered into research collaborations to assess certepetide in combination with other therapies for endometriosis and melanoma[11] - Certepetide has received Fast Track designation and Orphan Drug Designation for multiple cancer types, including pancreatic cancer and glioma[3] - The company anticipates a data-rich 2025 with multiple key data readouts projected over the next 18 months[2] Cash and Assets - As of September 30, 2024, cash, cash equivalents, and marketable securities amounted to approximately $35.9 million, expected to fund operations into early 2026[15] - Cash, cash equivalents, and marketable securities decreased to $35,856,000 as of September 30, 2024, from $50,535,000 at the end of 2023[22] - Total assets decreased to $38,199,000 as of September 30, 2024, down from $54,694,000 at the end of 2023[22] - Total liabilities decreased to $4,763,000 as of September 30, 2024, from $6,800,000 at the end of 2023[22] - Total equity decreased to $33,436,000 as of September 30, 2024, down from $47,894,000 at the end of 2023[22] Operating Expenses - General and administrative expenses increased to $2,794,000 in Q3 2024 from $2,584,000 in Q3 2023, representing an 8% increase[21] - Total operating expenses for Q3 2024 were $5,336,000, down 10.5% from $5,964,000 in Q3 2023[21]