Financial Performance - Neurogene reported a net loss of $36.3 million for the full year 2023, an improvement from a net loss of $55.2 million in 2022[9]. - General and Administrative (G&A) expenses increased to $11.2 million in 2023 from $9.0 million in 2022, driven by higher personnel and consulting costs[9]. Research and Development - Research and Development (R&D) expenses for 2023 were $44.4 million, a decrease from $47.5 million in 2022, primarily due to reduced manufacturing and pre-clinical costs[9]. - The Phase 1/2 trial of NGN-401 for Rett syndrome is expanding to include more patients, with interim clinical data expected in Q4 2024[3]. - The third patient in the NGN-401 trial was dosed in early Q1 2024, with plans to complete enrollment in Cohort 1 by the second half of 2024[4]. - The NGN-401 trial has been well-tolerated with no serious adverse events reported[4]. - Neurogene is on track to share data from both the NGN-401 and NGN-101 programs later in 2024[2]. - The company aims to advance an additional product candidate using its EXACT technology into the clinic by 2025[9]. Cash Position and Funding - Cash and cash equivalents as of December 31, 2023, were $197.2 million, providing a runway into the second half of 2026[9]. - The company completed a reverse merger and private placement of $95 million, beginning trading on Nasdaq under the ticker "NGNE" in December 2023[9].
Aquinox(NLTX) - 2023 Q4 - Annual Results