The following is a summary of the Oncternal Therapeutics, Inc. (ONCT) Q4 2023 Earnings Call Transcript:
Financial Performance:
Oncternal Therapeutics' Q4 2023 revenue came from grants that totaled $0.3 million. Full-year grants reached $0.8 million.
The Q4 operating expenses were $9.9 million, totaling to $42.5 million for the full year.
Q4 observed a net loss of $9.2 million, or a loss of $3.11 per share, and a full-year net loss of $39.5 million, or $13.43 per share.
The company ended 2023 with $34.3 million in cash, cash equivalents, and short-term investments, with no debt on their account books.
Business Progress:
Oncternal has advanced steadily with two primary clinical programs: ONCT-534 and ONCT-808.
Four patients have been enrolled for the Phase I/II trials of ONCT-534 without any unexpected dose-limiting toxicities.
Initial clinical data from the trial of ONCT-534 is due by the next quarter.
As for ONCT-808, the company has released initial clinical data and expects updated results by mid-2024.
Following an adverse event, protocol modifications were carried out for ONCT-808, including stricter eligibility criteria and more rigorous screenings.
Cost efficiencies have been achieved through the early wrap-up of the ZILO-301 program, and the close out of Phase I/II studies.
The company expects its current cash reserves to ensure operations well into 2025.
More details: Oncternal Therapeutics IR
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