Centessa Pharmaceuticals(US:CNTA)2025-05-14 11:08Financial Performance - Centessa Pharmaceuticals reported a net loss of $26.1 million for Q1 2025, a decrease from a net loss of $38.0 million in Q1 2024, representing a 31.5% improvement year-over-year[8] - Total comprehensive loss for Q1 2025 was $28.3 million, compared to $37.9 million in Q1 2024, indicating a 25.4% reduction[8] - Interest and investment income increased to $7.9 million in Q1 2025, compared to $2.6 million in Q1 2024, marking a 204.6% increase[8] Research and Development - Research and Development (R&D) expenses increased to $33.4 million in Q1 2025, up from $22.7 million in Q1 2024, reflecting a 47.5% rise[8] - The Phase 2a CRYSTAL-1 study for ORX750 is on track, with data expected across all three indications (NT1, NT2, and IH) in 2025[3] - ORX142 is set to initiate first-in-human studies in 2025, with clinical data planned for acutely sleep-deprived healthy volunteers[3] - The company presented additional data from the Phase 1 study of ORX750 at the AAN Annual Meeting, showing sustained effects in sleep latency and sleepiness scores[4] Financial Position - Cash, cash equivalents, and investments totaled $424.9 million as of March 31, 2025, expected to fund operations into mid-2027[8] - Total assets decreased to $527.8 million as of March 31, 2025, down from $576.8 million at the end of 2024[17] - General and Administrative (G&A) expenses decreased to $12.3 million in Q1 2025, down from $13.4 million in Q1 2024, a reduction of 8.2%[8]