Financial Data and Key Metrics Changes - For the year ended December 31, 2024, revenue totaled $1 million, an increase from $0 in 2023, due to an upfront license fee related to a collaboration agreement [15] - Operating expenses decreased to $23.4 million in 2024 from $25.7 million in 2023, representing a reduction of $2.3 million or 8.9% [15] - Net losses were $20 million in 2024 compared to $20.8 million in 2023, indicating a slight improvement in financial performance [17] - Cash, cash equivalents, and marketable securities as of December 31, 2024, were approximately $31.2 million, expected to support operations into the second quarter of 2026 [18] Business Line Data and Key Metrics Changes - Research and development expenses were approximately $11.3 million in 2024, down from $12.7 million in 2023, a decrease of approximately $1.4 million or 11% [15] - General and administrative expenses decreased to approximately $12.1 million in 2024 from $13 million in 2023, a reduction of approximately $0.9 million or 6.9% [16] Market Data and Key Metrics Changes - The company is actively evaluating the potential of certepetide in various therapeutic areas, including oncology and endometriosis, indicating a broadening of market focus [11][40] Company Strategy and Development Direction - The company is focused on advancing its development portfolio centered around certepetide for treating advanced solid tumors and exploring additional anticancer combinations [9] - Certepetide has received several regulatory designations, including orphan drug and fast track designations, which support its strategic clinical development plan [25] - The company aims to progress certepetide into a Phase 3 study in pancreatic cancer, contingent on data from ongoing trials [43] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about 2025 being a data-rich year with several key milestones on the horizon [11][46] - The company is committed to prudent capital management while advancing its R&D and business activities [17] Other Important Information - The company received $0.9 million in non-dilutive funding through a tax certificate transfer program, enhancing its financial position [19] - The collaboration with Kuva Labs aims to explore the synergistic potential of certepetide in imaging technology for solid tumors [41][42] Q&A Session Summary Question: Insights on ASCEND trial data from Cohort B - Management expects data from Cohort B to be similar to Cohort A, focusing on progression-free survival and overall survival [50][51] Question: Timing for ASCEND Cohort B data release - Data is anticipated to be available between the second and third quarter of 2025, potentially aligning with major oncology meetings [56][58] Question: Market reaction to Cohort A results - Management noted that the market may have misinterpreted the significance of the results, emphasizing the importance of complete trial data [60][62] Question: Future diagnostics from Kuva deal - The intention is to develop diagnostics that could enhance patient selection for treatment with certepetide [66][68] Question: Expectations from pharmaceutical partners - Partners are looking for complete trial results and consistent therapeutic effects to inform Phase 3 trial design [77][78] Question: Alternative approaches for the FORTIFIDE trial - The company is exploring imaging techniques as a potential alternative to traditional endpoints for the trial [86][87]
Lisata Therapeutics(LSTA) - 2024 Q4 - Earnings Call Transcript