Leap Therapeutics Reports Third Quarter 2024 Financial Results

Core Insights - Leap Therapeutics reported financial results for Q3 2024, highlighting significant advancements in its clinical pipeline and financial performance [1][2]. Pipeline Developments - Enrollment completed in the expanded randomized controlled Part B of the Phase 2 DeFianCe study for DKN-01 in advanced colorectal cancer, with data expected in mid-2025 [2][3]. - Patient follow-up is ongoing in Part C of the Phase 2 DisTinGuish study for DKN-01 in advanced gastroesophageal junction and gastric cancer, with initial data anticipated in late 2024 or early 2025 [2][3]. - Development of FL-501, an anti-GDF-15 monoclonal antibody, has been initiated based on promising preclinical data [2][4]. Financial Performance - The net loss for Q3 2024 was $18.2 million, an increase from $13.7 million in Q3 2023, primarily due to higher research and development expenses [5]. - Research and development expenses rose to $14.9 million in Q3 2024 from $11.5 million in Q3 2023, driven by increased manufacturing and clinical trial costs [6]. - General and administrative expenses decreased to $2.9 million in Q3 2024 from $3.3 million in Q3 2023 [7]. - Cash and cash equivalents stood at $62.8 million as of September 30, 2024, expected to fund operations into Q2 2026 [2][7].