Alpha Tau(US:DRTS) globenewswire.comยท2024-05-20 20:01Core Insights - Alpha Tau Medical Ltd. reported significant advancements in its clinical trials and financial results for Q1 2024, highlighting the ongoing development of its Alpha DaRT cancer therapy [1][2]. Financial Performance - For the quarter ended March 31, 2024, the company reported R&D expenses of $6.4 million, slightly up from $6.3 million in Q1 2023, attributed to increased employee compensation and benefits [5]. - The net loss for Q1 2024 was $8.0 million, or $0.11 per share, compared to a net loss of $8.2 million, or $0.12 per share, in the same period of 2023 [8][19]. - As of March 31, 2024, the company had cash and cash equivalents totaling $80.7 million, down from $84.9 million at the end of 2023, with an expected runway of at least two years [9]. Clinical Developments - The company presented preclinical data at the ESTRO 2024 Congress, demonstrating an abscopal immune effect in pancreatic murine tumor models, indicating a significant reduction in distant tumor growth rates [5]. - The first patient with liver metastases was treated in a feasibility and safety study of Alpha DaRT at McGill University Health Center, aiming to recruit up to 10 patients [5]. - Ongoing recruitment for the ReSTART U.S. multi-center pivotal trial and pancreatic cancer feasibility studies in Canada and Israel is currently in progress [1][5]. Upcoming Milestones - The company plans to treat the first patient in the Israeli recurrent lung cancer safety and feasibility trial in Q2 2024 and aims to complete patient recruitment for the ReSTART trial in H2 2024 [5]. - Alpha Tau anticipates a response from PMDA in Japan by the end of 2024 regarding pre-market approval for Alpha DaRT in patients with recurrent head and neck cancer [5]. Corporate Strategy - The CEO emphasized the focus on advancing the ReSTART trial while also preparing for potential product launches and solidifying the supply chain, including plans for a new manufacturing facility in Hudson, New Hampshire [2].