Financial Data and Key Metrics Changes - Total revenue for Q3 2024 was 4.9million,comparedtonorevenueinQ32023,reflecting3.2 million from the Gloria Biosciences license and 1.7millionfromAPHEXDAproductsales[35][41]−NetlossforQ32024was5.8 million, significantly reduced from a net loss of 16millioninQ32023[40]−Cash,cashequivalents,andshort−termbankdepositsasofSeptember30,2024,were29.2 million, expected to be approximately 20millionpost−transaction,sufficienttofundoperationsinto2026[41]BusinessLineDataandKeyMetricsChanges−APHEXDAachieveda1010 million upfront payment and is eligible for up to 87millioninpotentialcommercialmilestonesfromthelicensingagreementwithAyrmid[8][15]−TherestructuringofdebtwithBlackRockincludesrepaymentof16.5 million of outstanding debt, with favorable terms for the remaining balance [18] Q&A Session Summary Question: Pipeline growth and potential in-licensing - Management confirmed plans to in-license one asset in 2025 and another in 2026, with ongoing evaluations of potential candidates [47] Question: Mixing pancreatic program with additional solid tumor indications - Management views PDAC as a prototype for other solid tumors but plans to limit further investment in PDAC at this time [48] Question: Integration time within APHEXDA program and potential sales impact - Management expects a seamless transition with no significant lag in sales due to the transfer of employees and ongoing support [52] Question: Company's core competencies and future asset additions - Management highlighted the experienced development team and plans to focus on early-stage clinical assets in oncology and rare diseases [56][58] Question: Expected reduction in expenses for 2025 - Management indicated a 70% reduction in overall spending, including decreases in G&A expenses, while maintaining R&D commitments at a low cost [62][63] Question: Potential revenues from China - Management hopes for initial revenues from China in 2025, although control over the timeline is limited [67]
