Nkarta Reports First Quarter 2025 Financial Results and Corporate Highlights

Core Insights - Nkarta, Inc. is focused on developing engineered natural killer (NK) cell therapies for autoimmune diseases and has reported its financial results for Q1 2025 [1][9] - The company has restructured to enhance its clinical trial success and ensure sufficient cash flow to support operations until 2029 [2][8] Financial Performance - As of March 31, 2025, Nkarta had a cash balance of $351.9 million, which is expected to fund operations into 2029 [6][10] - Research and development (R&D) expenses for Q1 2025 were $24.2 million, while general and administrative (G&A) expenses were $12.4 million, including $5.1 million in restructuring costs [17][22] - The net loss for Q1 2025 was $32.0 million, or $0.43 per share, compared to a net loss of $29.5 million, or $0.58 per share, in Q1 2024 [17][23] Clinical Development Updates - Nkarta is advancing its NKX019 clinical programs, with preliminary data from the Ntrust-1 and Ntrust-2 trials expected in the second half of 2025 [4][6] - The Ntrust-1 trial has been expanded to include a cohort for primary membranous nephropathy, while the Ntrust-2 trial continues to enroll patients for systemic sclerosis and other conditions [7][12] - A modified lymphodepletion regimen using fludarabine and cyclophosphamide has been implemented across trials, with the option for eligible patients to continue with cyclophosphamide alone [6][7] Corporate Developments - Dr. Robert Ortmann has joined Nkarta as Vice President of Clinical Development, bringing over 20 years of experience in autoimmune diseases [8] - The company has undergone a restructuring plan that included a workforce reduction of 34% to extend its cash runway and prioritize clinical execution [8][10] Future Outlook - Nkarta aims to provide initial clinical updates for its Ntrust studies in the latter half of 2025, which will include clinical responses from enrolled patients [4][6] - The company is committed to achieving key clinical milestones while maintaining sufficient funds for ongoing operations [2][10]