PDS Biotechnology(US:PDSB)2024-05-15 12:00Financial Performance - Reported net loss for Q1 2024 was approximately $10.6 million, or $0.30 per share, compared to a net loss of $9.7 million, or $0.32 per share in Q1 2023[5] - General and administrative expenses decreased to approximately $3.4 million in Q1 2024 from $3.6 million in Q1 2023[7] - Total operating expenses rose to approximately $10.1 million in Q1 2024 from $9.4 million in Q1 2023[9] - Cash and cash equivalents as of March 31, 2024, totaled approximately $66.6 million, up from $56.6 million at the end of 2023[10][20] Research and Development - Research and development expenses increased to approximately $6.7 million in Q1 2024 from $5.8 million in Q1 2023, primarily due to a $1.2 million increase in clinical studies[6] Clinical Trial Results - Updated results from the VERSATILE-002 trial showed a median overall survival of 30 months for patients treated with Versamune® HPV + KEYTRUDA®, compared to published results of 7-18 months for immune checkpoint inhibitors[3] - The best overall response rate (BOR) was 34% for CPS ≥1 and 48% for CPS ≥20, significantly higher than published results for immune checkpoint inhibitors[3] - Progression-free survival was reported at 6.3 months for CPS ≥1 and 14.1 months for CPS ≥20, compared to 2-3 months for immune checkpoint inhibitors[3] Regulatory and Patent Developments - The company announced a two-part registrational trial for a triple combination treatment in HPV16-positive recurrent or metastatic head and neck cancer[8] - The company received patents extending protections for the Versamune® platform through December 2038 and November 2036, respectively[8]