Financial Performance - For the three months ended March 31, 2025, total operating expenses were $17.0 million, an increase of $7.2 million from $9.8 million in the same period in 2024[122]. - The net loss for the three months ended March 31, 2025, was $15.9 million, compared to a net loss of $9.5 million for the same period in 2024, representing an increase of $6.4 million[122]. - Cash used in operating activities for the three months ended March 31, 2025, was $14.0 million, compared to $10.6 million for the same period in 2024, reflecting a net loss of $15.9 million in 2025[137][139]. Expenses Breakdown - Research and development expenses were $13.0 million for the three months ended March 31, 2025, compared to $8.6 million for the same period in 2024, reflecting a $4.4 million increase[123]. - General and administrative expenses increased to $4.0 million for the three months ended March 31, 2025, from $1.3 million in the same period in 2024, a rise of $2.7 million[125]. Cash and Capital Requirements - As of March 31, 2025, the accumulated deficit was $170.6 million, with cash and cash equivalents amounting to $96.7 million[111]. - The company anticipates needing additional capital to fund operations, which may be sourced from equity or debt financings, collaborations, or licensing arrangements[129]. - The company anticipates requiring substantial additional capital to complete the development of its product candidates and to build necessary sales and marketing infrastructure[133]. - The company may need to raise additional capital through equity or debt financing, which could dilute existing stockholders' ownership interests[133]. Revenue and Product Development - The company has never generated any revenue from product sales and does not expect to do so until regulatory approval is obtained for its product candidates[132]. - The company expects research and development expenses in 2025 to be higher than in 2024 due to ongoing clinical and preclinical program advancements[124]. - Future funding requirements will depend on various factors, including the success of product candidates and the costs associated with regulatory reviews[135]. - The company may be required to license rights to product candidates at earlier stages of development if sufficient capital is not obtained[134]. Other Financial Activities - Other income for the three months ended March 31, 2025, was $1.1 million, up from $0.3 million in the same period in 2024, primarily due to increased interest income[127]. - Cash flows from investing activities were $18 thousand for the three months ended March 31, 2025, compared to $9 thousand for the same period in 2024, primarily related to the purchase of property and equipment[140]. - Cash flows from financing activities showed a cash outflow of $77 thousand in 2025 related to transaction costs, while there was a cash inflow of $10 thousand in 2024 from the sale of common stock[141]. Risks and Obligations - The company is subject to risks inherent in the development of new biopharmaceutical products, which may lead to unforeseen expenses and delays[132]. - The company has significant contractual obligations and commitments, including future operating lease minimum payments[142]. - Following the merger, shares received by Legacy OnKure stockholders represented approximately 53.6% of the outstanding Common Stock[109]. - The company completed a private placement of 2,839,005 shares at approximately $22.895 per share for an aggregate of approximately $65.0 million[109].
OnKure Therapeutics, Inc.(OKUR) - 2025 Q1 - Quarterly Report