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

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 AIM INJ nanoparticle constructs for potential clinical evaluation in oncology and autoimmune disorders. The company has paused development of its adoptive cell therapy product candidates and is exploring external opportunities to advance these clinical programs. NexImmune's future plans involve seeking additional funding to support ongoing operations and pursuing growth strategies, which may include public or private equity offerings, debt financings, collaborations, and licensing arrangements. The company's ability to continue as a going concern is uncertain, and it is actively seeking strategic alternatives.