Core Insights - Centessa Pharmaceuticals reported a productive first quarter in 2025, highlighting progress in its OX2R agonist pipeline, particularly ORX750 for treating narcolepsy and other sleep disorders [2][3] Financial Performance - The company reported a net loss of $26.1 million for Q1 2025, an improvement from a net loss of $38.0 million in Q1 2024 [10] - Research and Development (R&D) expenses increased to $33.4 million in Q1 2025 from $22.7 million in Q1 2024 [6][10] - General and Administrative (G&A) expenses decreased to $12.3 million in Q1 2025 from $13.4 million in Q1 2024 [10] - Cash, cash equivalents, and investments totaled $424.9 million as of March 31, 2025, expected to fund operations into mid-2027 [6] Pipeline Developments - ORX750 is currently in the Phase 2a CRYSTAL-1 study for NT1, NT2, and IH, with data expected in 2025 [5][6] - ORX142 is on track to initiate first-in-human studies for neurological disorders, with clinical data planned for this year [5][6] - ORX489 is advancing in IND-enabling studies for neuropsychiatric disorders [5] Recent Highlights - Data from the Phase 1 study of ORX750 were presented at the American Academy of Neurology Annual Meeting, showing sustained effects in sleep latency and sleepiness scores compared to placebo [3] - The company aims to execute its pipeline efficiently, with multiple data readouts anticipated this year [2][5]