Third Harmonic Bio(US:THRD)2025-03-27 12:10Financial Performance - As of December 31, 2024, Third Harmonic Bio reported cash and cash equivalents of $285.1 million, an increase from $269.1 million in 2023[6][15]. - The net loss for Q4 2024 was $13.1 million, compared to a net loss of $6.8 million in Q4 2023, with the annual net loss increasing to $45.5 million from $30.8 million in 2023[10][17]. - Total operating expenses for the year ended December 31, 2024, were $58.9 million, up from $44.0 million in 2023[17]. - The weighted-average common stock outstanding increased from 39.6 million in 2023 to 41.7 million in 2024[17]. Research and Development - Research and development (R&D) expenses for Q4 2024 were $10.5 million, up from $5.9 million in Q4 2023, and total R&D expenses for the year increased to $36.5 million from $24.0 million in 2023[8][17]. - Third Harmonic Bio plans to initiate a 12-week, placebo-controlled Phase 2 study for THB335 in chronic spontaneous urticaria by mid-2025[3]. - The company has halted all non-THB335 related research and reduced its workforce by approximately 50%[5]. Strategic Initiatives - Third Harmonic Bio is exploring strategic alternatives to maximize shareholder value through potential transactions or business combinations[4]. - The company estimates cash and cash equivalents will range from approximately $262 million to $267 million by June 30, 2025[7][6]. General and Administrative Expenses - General and administrative (G&A) expenses for Q4 2024 rose to $5.9 million from $4.5 million in Q4 2023, with total G&A expenses for the year increasing to $22.4 million from $20.0 million in 2023[9][17].