The following is a summary of the Exscientia Plc (EXAI) Q4 2023 Earnings Call Transcript:
Financial Performance:
Exscientia concluded the year with a bank balance of $463 million in cash and fixed-term deposits.
An operational cash burn of $150 million for the previous year was reported.
A reduced operational cash burn is expected for 2024 compared to 2023.
With the current financial runway, the company's funds are projected to last well into 2026, allowing for further platform development and pipeline progression.
Business Progress:
The company made strides in expanding its technological capabilities, including launching an automation suite near Oxford.
Ongoing internal pipeline initiatives centered on high-value oncology targets, with programs such as GTA-EXS-617 and EXS74539 advancing.
Expanded collaborations with Sanofi and Merck KGaA, and focus on CDK7 inhibitor and LSD1 inhibitor for possible cancer treatments.
From an investment in automation, a significant financial impact is anticipated within a few years due to cost savings.
Exscientia marked its first milestone within its Sanofi collaboration in late 2023 and expects a rise in milestones in the next 18 to 36 months.
The CDK7 program is progressing through its monotherapy dose escalation phase, with results expected in 2024.
Plans to file each IND for the LSD1 inhibitor in early Q3-2024, with the first patient expected to be dosed by year's end.
Expressed an interest in further partnerships and exploring alliances with tech companies to boost their precise data-focused approach.
More details: Exscientia IR
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