PDS Biotechnology(US:PDSB)2025-03-27 11:35Financial Performance - For the year ended December 31, 2024, the net loss was approximately $37.6 million, or $1.03 per basic and diluted share, a decrease from a net loss of $42.9 million, or $1.39 per share in 2023[5] - The accumulated deficit as of December 31, 2024, was $(182.1) million, compared to $(144.5) million in 2023[19] Expenses - Research and development expenses for 2024 were $22.6 million, down from $27.8 million in 2023, primarily due to a $4.1 million decrease in clinical costs[6] - General and administrative expenses decreased to $13.8 million in 2024 from $15.3 million in 2023, reflecting a reduction in professional fees and facilities costs[7] - Total operating expenses for 2024 were $36.3 million, compared to $43.0 million in 2023, indicating a significant reduction in overall costs[7] - The company reported a net interest expense of $2.2 million for 2024, an increase from $1.3 million in 2023 due to higher debt interest[8] Cash Position - The cash balance as of December 31, 2024, was $41.7 million, down from $56.6 million in 2023[11][19] Clinical Trials and Designations - The company initiated the VERSATILE-003 Phase 3 clinical trial for Versamune® HPV in HPV16-positive head and neck cancer, with approximately 350 patients expected to be enrolled[4] - The FDA granted Fast Track designation for the combination of Versamune® HPV and pembrolizumab in recurrent/metastatic head and neck squamous cell carcinoma[4] Fundraising Activities - In March 2025, the company announced an up to $22 million registered direct offering, with $11 million in upfront gross proceeds[10]