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NeuroSense Therapeutics | 6-K: Report of foreign private issuer (related to financial reporting)

SEC announcement ·  Apr 5 09:33
Summary by Moomoo AI
On April 5, 2024, NeuroSense Therapeutics Ltd., a biotechnology company focused on neurodegenerative diseases, announced its financial results for the year ending December 31, 2023, and provided a business update. The company reported significant clinical results from its Phase 2b PARADIGM ALS trial, where its lead drug candidate, PrimeC, showed a 37.4% slower disease progression in ALS patients compared to placebo. The trial's positive outcomes extend to quality of life and complication-free survival, with plans to present the data at a medical conference and for publication. Financially, NeuroSense experienced an 18% increase in R&D expenses due to higher employee numbers and clinical program costs, while G&A expenses decreased by 20% primarily due to lower share-based compensation and insurance costs. Overall operating expenses slightly...Show More
On April 5, 2024, NeuroSense Therapeutics Ltd., a biotechnology company focused on neurodegenerative diseases, announced its financial results for the year ending December 31, 2023, and provided a business update. The company reported significant clinical results from its Phase 2b PARADIGM ALS trial, where its lead drug candidate, PrimeC, showed a 37.4% slower disease progression in ALS patients compared to placebo. The trial's positive outcomes extend to quality of life and complication-free survival, with plans to present the data at a medical conference and for publication. Financially, NeuroSense experienced an 18% increase in R&D expenses due to higher employee numbers and clinical program costs, while G&A expenses decreased by 20% primarily due to lower share-based compensation and insurance costs. Overall operating expenses slightly decreased by 2%. As of year-end, the company had cash reserves of approximately $2.6 million. NeuroSense has filed its annual report on Form 20-F with the SEC, available on its investor relations website, and offers hard copies to shareholders upon request. The company continues to focus on developing treatments for ALS and other neurodegenerative diseases, with PrimeC having received Orphan Drug Designation in the U.S. and EU.

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