eFFECTOR Therapeutics, a clinical-stage biopharmaceutical company, reported no revenue for the quarter ended March 31, 2024, as it continues to focus on the development of its oncology drug candidates. The company's net loss for the quarter was $8.8 million, compared to a net income of $10.0 million in the same period the previous year. The decrease in net loss is attributed to a reduction in research and development expenses, which totaled $5.3 million for the quarter, down from $6.6 million in the prior year. This reduction was primarily due to decreased clinical costs for the zotatifin program and reduced costs associated with the KICKSTART trial for tomivosertib. General and administrative expenses slightly increased to $3.1 million from $2.9 million year-over-year. eFFECTOR Therapeutics has raised...Show More

eFFECTOR Therapeutics, a clinical-stage biopharmaceutical company, reported no revenue for the quarter ended March 31, 2024, as it continues to focus on the development of its oncology drug candidates. The company's net loss for the quarter was $8.8 million, compared to a net income of $10.0 million in the same period the previous year. The decrease in net loss is attributed to a reduction in research and development expenses, which totaled $5.3 million for the quarter, down from $6.6 million in the prior year. This reduction was primarily due to decreased clinical costs for the zotatifin program and reduced costs associated with the KICKSTART trial for tomivosertib. General and administrative expenses slightly increased to $3.1 million from $2.9 million year-over-year. eFFECTOR Therapeutics has raised a total of $341.8 million to fund operations to date, with $25.4 million in cash, cash equivalents, and short-term investments as of March 31, 2024. The company has entered into significant agreements, including a license agreement with UCSF for translational profiling patent rights and a research collaboration and license agreement with Pfizer to develop small molecules targeting eIF4E. eFFECTOR Therapeutics plans to continue the clinical development of its lead product candidate, zotatifin, and is evaluating plans for a randomized trial for the ZFA triplet in the second half of 2024. The company also reported the extension of its office space lease in Solana Beach, California, until October 31, 2027.