Alaunos Therapeutics(US:TCRT)2025-03-31 20:18Financial Performance - For the year ended December 31, 2024, the company reported a net loss of $4.6 million, with an accumulated deficit of approximately $920.4 million since its inception in 2003[348]. - Revenue for the year ended December 31, 2024, was $10 thousand, a 100% increase from $5 thousand in 2023[364]. - The company has not generated any product revenue and continues to incur significant operating expenditures and net losses[348]. - As of December 31, 2024, the accumulated deficit was approximately $920.4 million, indicating ongoing financial challenges[381]. - Cash and cash equivalents as of December 31, 2024 were approximately $1.1 million, with expectations to fund operations into the second quarter of 2025[384]. - No collaboration revenue was earned in 2024, with only $10 thousand in royalty revenues compared to $5 thousand in 2023 under the Solasia License[387]. Expenses - Research and development expenses decreased by 98% to $362 thousand in 2024 from $16.3 million in 2023, primarily due to reduced clinical activities and workforce[365]. - General and administrative expenses decreased by 63% to $4.46 million in 2024 from $12.22 million in 2023, mainly due to a reduction in consulting and employee-related expenses[367]. - Impairments for the year ended December 31, 2024 were $0 million, a decrease of 100% from $4.8 million in 2023, following a strategic reprioritization announced in August 2023[371]. - Net cash used in operating activities for 2024 was $5.0 million, significantly reduced from $30.1 million in 2023, attributed to a net loss of $4.6 million and adjustments for non-cash items[378]. Strategic Initiatives - The company is exploring strategic alternatives, including acquisitions, mergers, and partnerships, to extend its cash runway[347]. - The company has engaged Cantor Fitzgerald & Co. as a strategic advisor to assist in exploring strategic alternatives[347]. - Management has raised substantial doubt about the company's ability to continue as a going concern beyond the forecasted cash runway[377]. Clinical Trials and Studies - The ongoing in vitro study aims to evaluate the impact of ALN1001 on lipid metabolism, with results expected in early Q2 2025[350]. - The TCR-T Library Phase 1/2 Trial showed a 13% overall response rate and an 87% disease control rate among evaluable patients[352]. - The company plans to conduct a proof-of-concept study for its obesity program by Q3 2025, contingent on successful in vitro study results[351]. Licensing and Agreements - The company terminated a Patent License agreement effective December 26, 2023, incurring no expenses under this agreement in 2024, compared to $0.3 million in 2023[386].