Harpoon Therapeutics(HARP) - 2021 Q3 - Quarterly Report

Financial Performance - The company reported a comprehensive loss for the three months ended September 30, 2021, amounting to $X million, compared to a loss of $Y million for the same period in 2020, reflecting a Z% increase in losses[6] - The company reported cash flows for the nine months ended September 30, 2021, showing a net cash used in operating activities of $D million, compared to $E million for the same period in 2020[6] - The company has incurred significant losses since inception and expects to continue incurring losses for the foreseeable future, with no guarantee of achieving profitability[15] Asset Growth - As of September 30, 2021, the company's total assets were $A million, up from $B million as of December 31, 2020, indicating a growth of C% in total assets[6] Product Development - The company is focused on advancing its product candidates through preclinical studies and clinical trials, with the potential for regulatory filings and approvals in the future[13] - All product candidates are in preclinical or early-stage clinical development, with uncertain timelines and outcomes[15] - The company is exploring strategic arrangements and collaborations to enhance its product development pipeline and market opportunities[13] Funding and Shareholder Impact - The company is actively seeking additional funding to support the development and commercialization of its product candidates, which may lead to dilution of existing shareholders[15] - Additional funding will be required to complete development and commercialization of product candidates, with potential dilution to stockholders[15] Regulatory Risks - The company is subject to extensive regulatory approval processes, which are lengthy and unpredictable, potentially affecting the commercialization of its product candidates[15] - Regulatory approval processes are lengthy and unpredictable, posing a risk to the commercialization of product candidates[15] Operational Risks - The company anticipates potential impacts from the COVID-19 pandemic on its business operations and financial performance[13] - Compliance with data privacy and security laws is critical, as failure to comply could lead to significant penalties and affect operating results[16] Development Risks - The company’s TriTAC, ProTriTAC, and TriTAC-XR platforms are in early-stage development, and their success is uncertain, which poses risks to the company's future performance[15]