eFFECTOR Therapeutics, a clinical-stage biopharmaceutical company, has reported its financial and operational results for the year ended December 31, 2023. The company has not generated revenue from product sales and reported a net loss of $35.8 million for the year, compared to a net loss of $22.7 million in the previous year. The increase in net loss is attributed to the absence of grant revenue, which concluded in 2022. Research and development expenses slightly decreased to $22.9 million from $23.3 million in the previous year, reflecting a shift in focus from the zotatifin COVID-19 program to oncology trials. General and administrative expenses also decreased to $10.9 million from $12.6 million, due to lower insurance and consultant costs. The company's lead product candidate, tomivosertib, is in a Phase...Show More

eFFECTOR Therapeutics, a clinical-stage biopharmaceutical company, has reported its financial and operational results for the year ended December 31, 2023. The company has not generated revenue from product sales and reported a net loss of $35.8 million for the year, compared to a net loss of $22.7 million in the previous year. The increase in net loss is attributed to the absence of grant revenue, which concluded in 2022. Research and development expenses slightly decreased to $22.9 million from $23.3 million in the previous year, reflecting a shift in focus from the zotatifin COVID-19 program to oncology trials. General and administrative expenses also decreased to $10.9 million from $12.6 million, due to lower insurance and consultant costs. The company's lead product candidate, tomivosertib, is in a Phase 2b clinical trial for the treatment of solid tumors, with topline data expected in early April 2024. eFFECTOR Therapeutics has also advanced its second product candidate, zotatifin, in a Phase 1/2 clinical trial for certain solid tumors. The company plans to continue the clinical development of zotatifin, potentially in a randomized trial. As of December 31, 2023, eFFECTOR Therapeutics had $18.4 million in cash and cash equivalents and short-term investments. The company anticipates the need to raise additional capital to fund further operations and continue the clinical development of its product candidates.