Zura(ZURA) - 2024 Q4 - Annual Results

Financial Position - Zura Bio reported cash and cash equivalents of $176.5 million as of December 31, 2024, up from$99.8 million as of December 31, 2023, indicating a significant increase of 76.8%[9]. - Zura Bio's total assets increased to $179.5 million as of December 31, 2024, compared to$100.8 million in 2023, indicating strong growth in the company's financial position[18]. - Zura Bio completed a $112.5 million private placement financing in April 2024, contributing to a total cash position that supports operations through 2027[6]. Expenses - Research and development expenses decreased to$24.4 million for the year ended December 31, 2024, down 44.5% from $44.0 million in 2023, primarily due to a one-time acquisition cost in the previous year[10]. - General and administrative expenses rose to$30.8 million in 2024, an increase of 65.5% compared to $18.6 million in 2023, driven by higher compensation and professional fees[11]. - The total operating expenses for 2024 were$55.2 million, a decrease from $62.6 million in 2023, reflecting improved cost management[20]. Net Loss - The net loss for the year ended December 31, 2024, was$45.4 million, or $0.60 per share, a reduction from a net loss of$69.2 million, or $2.09 per share, in 2023[12]. Clinical Development - Zura Bio initiated the Phase 2 TibuSURE trial for systemic sclerosis (SSc) in December 2024, marking a key milestone in its clinical pipeline[4]. - The company plans to launch a Phase 2 trial for hidradenitis suppurativa (HS) in Q2 2025, further expanding its clinical research efforts[7]. - The company established a Scientific Advisory Board in June 2024, enhancing its clinical and scientific leadership capabilities[13].