Nkarta Reports Second Quarter 2024 Financial Results and Corporate Highlights

Core Insights - Nkarta, Inc. is advancing its NKX019 therapy for autoimmune diseases, with patient enrollment in the Ntrust-2 clinical trial expected to begin by the end of 2024 [1][4] - The company reported a cash balance of $426.7 million as of June 30, 2024, which is anticipated to fund operations into late 2027 [1][8] - Preliminary clinical data from the Ntrust-1 and Ntrust-2 trials is planned for release in 2025 [1][4] Clinical Development - Nkarta received FDA clearance for its second Investigational New Drug (IND) application for NKX019, supporting the initiation of the Ntrust-2 trial targeting systemic sclerosis, myositis, and vasculitis [3] - The Ntrust-2 trial will involve patients receiving three doses of NKX019 on Days 0, 3, and 7 after lymphodepletion with cyclophosphamide [3][12] - An investigator-sponsored trial of NKX019 in systemic lupus erythematosus (SLE) is also set to begin, with a similar dosing regimen [3][12] Financial Performance - For the second quarter of 2024, Nkarta reported R&D expenses of $23.1 million and G&A expenses of $7.6 million [7] - The net loss for the second quarter was $25.0 million, or $0.34 per share, which includes non-cash charges of $6.7 million [7][18] - Cash and cash equivalents are projected to be sufficient to support the company's operating plan through late 2027 [8] Leadership Changes - In July 2024, Nadir Mahmood, Ph.D., joined as President, and David R. Shook, M.D., was promoted to Chief Medical Officer [6] - George Vratsanos, M.D., FACR, joined the Board of Directors in June 2024, bringing expertise in immunology and autoimmunity [6] About NKX019 - NKX019 is an allogeneic, cryopreserved immunotherapy candidate utilizing engineered NK cells for targeting CD19, relevant in autoimmune diseases and B cell-derived malignancies [9] - The therapy aims to achieve long-term remissions by resetting the immune system through the elimination of pathogenic B cells [10]