Tharimmune, Inc., a clinical-stage biotechnology company, reported financial results for the fiscal year ended December 31, 2023. The company incurred a net loss of $9.3 million, compared to $8.5 million in the previous year. Research and development expenses increased by 56.2% to $3.6 million, primarily due to increased pre-clinical activities and licensing fees. General and administrative expenses also rose by 28.1% to $5.9 million, attributed to higher investor relations and personnel expenses. The company did not generate any revenue during the year. Tharimmune received FDA approval for an IND application for TH104, a product candidate for treating chronic pruritis in PBC patients. The company also advanced its early-stage pipeline, focusing on novel therapeutic candidates targeting immuno-oncology targets such as HER2, HER3, and PD-1. Tharimmune raised approximately $13.6 million...Show More

Tharimmune, Inc., a clinical-stage biotechnology company, reported financial results for the fiscal year ended December 31, 2023. The company incurred a net loss of $9.3 million, compared to $8.5 million in the previous year. Research and development expenses increased by 56.2% to $3.6 million, primarily due to increased pre-clinical activities and licensing fees. General and administrative expenses also rose by 28.1% to $5.9 million, attributed to higher investor relations and personnel expenses. The company did not generate any revenue during the year. Tharimmune received FDA approval for an IND application for TH104, a product candidate for treating chronic pruritis in PBC patients. The company also advanced its early-stage pipeline, focusing on novel therapeutic candidates targeting immuno-oncology targets such as HER2, HER3, and PD-1. Tharimmune raised approximately $13.6 million through public offerings of common stock, which contributed to a net increase in cash of $4.4 million for the year. The company's financial position includes cash and cash equivalents of $10.9 million as of December 31, 2023. Tharimmune's future plans involve continuing the development and potential commercialization of its product candidates, with an emphasis on addressing high unmet medical needs in rare diseases, inflammatory conditions, and cancer.