CAMP4 Reports Third Quarter 2024 Financial Results

Core Insights - CAMP4 Therapeutics Corporation successfully completed its Initial Public Offering (IPO), raising gross proceeds of $82.1 million, which positions the company for continued growth and development of its programs [1][3][4] - The company has made significant progress in its lead program, CMP-CPS-001, which has received Orphan Drug Designation and Rare Pediatric Disease Designation from the FDA, indicating its potential as a novel therapeutic for urea cycle disorders [2][3] - CAMP4 has entered a strategic research collaboration with BioMarin, valued at over $370 million, to leverage its RNA Actuating Platform for identifying therapeutics targeting regRNAs associated with genetic diseases [1][2][3] Financial Performance - For the third quarter of 2024, CAMP4 reported a net loss of $13.5 million, compared to a net loss of $11.7 million for the same period in 2023 [7][12] - Research and Development (R&D) expenses were $9.7 million for Q3 2024, slightly down from $9.8 million in Q3 2023, primarily due to a reduction in workforce-related expenses [5] - General and Administrative (G&A) expenses increased to $3.8 million in Q3 2024 from $2.9 million in Q3 2023, mainly due to higher stock-based compensation and patent-related expenses [6] Clinical Development - The Phase 1 clinical trial of CMP-CPS-001 has completed dosing for all Single Ascending Dose (SAD) cohorts, with safety data expected to be reported in Q1 2025 [1][3] - Following the SAD data, the company anticipates reporting Multiple Ascending Dose (MAD) biomarker efficacy data in the second half of 2025, which may enable a registrational Phase 2/3 study [2][3] Cash Position - As of September 30, 2024, CAMP4 had $2.5 million in cash and cash equivalents, but on a pro forma basis, considering the IPO proceeds, the company is well-positioned for future growth [4][12]