Summary by Moomoo AI
On March 25, 2024, eFFECTOR Therapeutics, Inc., a clinical-stage biopharmaceutical company, announced its financial results for the fourth quarter and full year ended December 31, 2023. The company reported a net loss of $9.1 million for the quarter and $35.8 million for the full year. Despite the losses, eFFECTOR highlighted significant progress in its clinical programs, including the expected early April 2024 release of topline data from the Phase 2b KICKSTART trial of tomivosertib combined with pembrolizumab in non-small cell lung cancer (NSCLC). Additionally, the company reported a median progression-free survival of 7.4 months in a cohort evaluating zotatifin in combination with fulvestrant and abemaciclib in heavily pretreated patients with ER+ breast cancer. eFFECTOR also received U.S. FDA Fast Track designation for zotatifin in this patient population. The company raised $15.0 million in gross proceeds from registered direct financing, extending its cash runway into the first quarter of 2025. The financial report detailed R&D and G&A expenses, along with other income and expenses, and provided an update on the company's cash position and guidance.
