Core Insights - Purple Biotech has successfully completed clinical trials for its oncology assets CM24 and NT219, demonstrating clinical benefits and identifying potential biomarkers for personalized treatment [1][2][3] Clinical Developments - CM24 met all efficacy endpoints in a Phase 2 trial for second-line pancreatic cancer, with plans for a biomarker-driven Phase 2b study to start in the second half of 2025 [3][7] - NT219 is advancing into a Phase 2 study for head and neck cancer, combining with pembrolizumab and cetuximab, with patient enrollment expected in the first half of 2025 [4][9] - The CAPTN-3 tri-specific platform has shown promising preclinical data, indicating its potential in the multi-specific antibody space [1][5] Financial Performance - For Q4 2024, Purple Biotech reported a net loss of $0.4 million, a significant decrease from $4.9 million in the same period of 2023, primarily due to reduced research and development expenses [18][19] - Research and development expenses for the year ended December 31, 2024, were $7.6 million, down 55.3% from $17 million in 2023 [20][21] - The company had cash and cash equivalents of $8.2 million as of December 31, 2024, providing a cash runway into mid-2026 [18][23] Patent and Collaboration - A new U.S. patent for NT219 enhances global intellectual property protection, positioning the company for potential future commercialization [10][14] - Purple Biotech has entered a research collaboration with the Icahn School of Medicine at Mount Sinai to explore the immunoregulation of NK and T cells within the tumor microenvironment [12][15]
Purple Biotech Reports Fourth Quarter and Full-Year 2024 Financial Results