Intensity Therapeutics(INTS) - 2025 Q3 - Quarterly Results

Financial Performance - The company reported a net loss of $2.7 million for Q3 2025, compared to a net loss of $3.5 million for the same period in 2024[14]. - General and administrative expenses decreased to $1.2 million in Q3 2025 from $1.4 million in Q3 2024, reflecting reduced business development activity[14]. Research and Development - Research and development expenses for Q3 2025 were $1.6 million, down from $2.2 million in Q3 2024, primarily due to lower costs associated with the INVINCIBLE-3 Study[12]. - The INVINCIBLE-4 Study is set to resume patient enrollment in Q1 2026 after a pause to revise the dosing regimen, targeting completion of enrollment by the end of 2026[5]. - The company expects to file a protocol amendment for the INVINCIBLE-4 Study in Q1 2026 to revise the dosing regimen for INT230-6[7]. - The company plans to restart site activations and patient enrollment in the INVINCIBLE-3 Study once sufficient funding is obtained, having previously enrolled 21 patients before pausing[6]. - The disease control rate for heavily pretreated patients with advanced disease receiving INT230-6 was 75%, with a median overall survival of 11.9 months[8]. - The IT-01 Study manuscript published in eBioMedicine reported a disease control rate of 83.3% in a subset of patients receiving a higher total dose of INT230-6[13]. Cash and Capital - As of September 30, 2025, cash and cash equivalents totaled $7.1 million, with an extended cash runway until the end of Q1 2027 following capital raises[15][10]. - The company raised $13.6 million in gross proceeds since the beginning of Q3 2025, including $7.5 million in Q3 and $4.0 million in a registered direct offering in October 2025[9][13]. Assets and Liabilities - Total assets increased to $9,585 million as of September 30, 2025, up from $4,783 million on December 31, 2024, representing a growth of 100%[24]. - Cash and cash equivalents rose significantly to $7,067 million, compared to $2,590 million in the previous period, marking an increase of 172%[24]. - Total current assets reached $8,186 million, up from $3,363 million, reflecting a growth of 143%[24]. - Total liabilities increased to $2,363 million from $1,865 million, which is an increase of 27%[24]. - Total stockholders' equity surged to $7,222 million, compared to $2,918 million, indicating a growth of 147%[24]. - Current liabilities rose to $2,276 million, up from $1,755 million, representing a 30% increase[24]. - Accounts payable increased to $1,684 million from $1,219 million, reflecting a growth of 38%[24]. - Accrued expenses rose to $561 million, compared to $508 million, marking an increase of 10%[24]. - Lease liability, net of current portion, decreased to $87 million from $110 million, indicating a reduction of 21%[24]. - Right-of-use asset, net, slightly decreased to $103 million from $122 million, reflecting a decline of 15%[24].