ProQR Announces Year End 2024 Operating and Financial Results

Core Viewpoint - ProQR Therapeutics is entering a significant growth phase with its Axiomer RNA editing platform, anticipating multiple clinical trial data readouts in 2025 and 2026, which could demonstrate the therapeutic potential of RNA editing [2][5]. Financial Highlights - As of December 31, 2024, ProQR held cash and cash equivalents of €149.4 million, an increase from €118.9 million at the end of 2023 [7]. - The net cash used in operating activities for the year ended December 31, 2024, was €36.4 million, compared to a net cash generation of €21.5 million in 2023 [7]. - Research and development costs for 2024 were €36.4 million, up from €25.1 million in 2023, reflecting increased investments in the platform and pipeline programs [8]. - The net loss for 2024 was €27.8 million, or €0.32 per diluted share, compared to a net loss of €27.7 million, or €0.35 per diluted share in 2023 [9]. Recent Progress - ProQR expanded its collaboration with the Rett Syndrome Research Trust, securing up to $9.2 million for advancing AX-2402 into clinical trials [6]. - The company appointed Dr. Peter A. Beal as Chief ADAR Scientist to enhance the development of its Axiomer platform [6]. - In October 2024, ProQR completed a public offering and private placement, raising approximately$82.1 million [6]. Anticipated Upcoming Events - The company plans to submit a Clinical Trial Application (CTA) for AX-0810 in Q2 2025, with the first clinical data readout expected in Q4 2025 [5][6]. - ProQR anticipates up to four clinical data readouts in 2025 and 2026 across various programs, including AX-2402 for Rett Syndrome and AX-2911 for MASH [5][13].