Clinical Development Programs - ABCL635 Phase 1 clinical trials are expected to initiate in Q3 2025[9, 36] - ABCL575 Phase 1 clinical trials are expected to initiate in Q3 2025[4, 36] - ABCL635 is a potential first-in-class antibody for the non-hormonal treatment of vasomotor symptoms (hot flashes)[6] - Phase 1 Readout safety & early efficacy of ABCL635 is anticipated in the first half of 2026[11, 34] Financial Status - The company has approximately $810 million in available liquidity to execute on its strategy[5, 44] - The company has approximately $630 million in total cash, cash equivalents, and marketable securities[45] - The company has approximately $180 million in total available government funding[43] - Q1 2025 revenue was $42.5 million, an increase of $3.2 million compared to $39.3 million in Q1 2024[50] - Q1 2025 net loss was $46 million, equivalent to ($0.15) per share[52] Market Opportunity - Approximately 40 million women are of menopausal age in the US[11, 15] - Approximately 30% of women experience moderate-to-severe VMS[11, 15]