Centessa Pharmaceuticals Reports Business Highlights and Financial Results for the Fourth Quarter and Full-Year 2024

Core Insights - Centessa Pharmaceuticals is advancing its pipeline of OX2R agonists, particularly ORX750, which shows promise in treating excessive daytime sleepiness (EDS) and related disorders [2][4][11] - The company reported significant financial results for Q4 and full-year 2024, including a net loss of $111.3 million for Q4 and$235.8 million for the full year, reflecting increased R&D expenses [11][12] Recent Highlights - The Phase 2a CRYSTAL-1 study for ORX750 is on track, with data expected in 2025 for narcolepsy type 1 (NT1), narcolepsy type 2 (NT2), and idiopathic hypersomnia (IH) [4][11] - ORX142 and ORX489 are also in IND-enabling studies, with clinical data planned for 2025 [4][11] Financial Results - Cash, cash equivalents, and short-term investments totaled 482.2 million as of December 31, 2024, expected to fund operations into mid-2027 [11] - R&D expenses increased to 60.9 million in Q4 2024 from 29.7 million in Q4 2023, and full-year R&D expenses rose to 150.2 million from $124.4 million [11][12] - General and administrative expenses were$13.7 million for Q4 2024, compared to $12.3 million in Q4 2023 [11][12] - The net loss for Q4 2024 was$111.3 million, up from $36.8 million in Q4 2023, and the full-year net loss increased from$151.1 million in 2023 to $235.8 million in 2024 [11][12] Pipeline and Anticipated Upcoming Milestones - ORX750 is expected to provide data across all three indications in 2025, with a poster presentation scheduled for the AAN Annual Meeting on April 5, 2025 [5][11] - ORX142 and ORX489 are advancing through IND-enabling studies, with clinical data anticipated in 2025 [4][11]