Summary by Moomoo AI
NexImmune, a clinical stage biotechnology company, reported a net loss of $32.3 million for the year ended December 31, 2023, compared to a net loss of $62.5 million for the previous year. The company's research and development expenses decreased by $27.9 million, primarily due to reduced research and preclinical manufacturing costs, clinical trial expenses, and a decrease in salary and benefits resulting from a reduced headcount. General and administrative expenses also decreased by $2.9 million, mainly due to lower legal and professional fees. NexImmune has not generated any revenue from product sales and has funded operations through equity offerings and debt financings. The company's cash and cash equivalents stood at $3.2 million as of December 31, 2023. NexImmune's business development efforts include a focus on developing...Show More