The following is a summary of the PolyPid Ltd (PYPD) Q1 2024 Earnings Call Transcript:
Financial Performance:
PolyPid reported Q1 2024 cash and short-term deposits of $14.5 million.
Research and development expenses for this period were $5.1 million, up from $3.8 million in Q1 2023, mainly due to the SHIELD II Phase III trial.
The company saw a net loss of $6.4 million for this quarter, a slight increase compared to the $6.1 million net loss in Q1 2023.
Business Progress:
PolyPid has enrolled over 200 subjects in its SHIELD II trial for D-PLEX100, with the Data Safety Monitoring Committee recommending continuation of the study without modifications.
The company has secured considerable intellectual property protection for D-PLEX100 with about 175 granted and pending patent applications.
It gathered around $15 million from private placement financing in January 2024, with potential to secure an additional $19 million if the interim analysis results are positive and all warrants are exercised.
More details: PolyPid IR
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