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Reneo Pharmaceuticals | 8-K: Reneo Pharmaceuticals Reports First Quarter 2024 Financial Results

Reneo Pharmaceuticals | 8-K: Reneo Pharmaceuticals Reports First Quarter 2024 Financial Results

Reneo Pharmaceuticals | 8-K:Reneo Pharmicals公佈2024年第一季度財務業績
美股SEC公告 ·  05/08 10:16

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On May 7, 2024, Reneo Pharmaceuticals, Inc. released its financial results for the first quarter ending March 31, 2024, and provided a business update. The company reported a net loss of $8.4 million, or $0.25 per share, a decrease from the $15.1 million, or $0.60 per share, loss in the same period the previous year. Reneo Pharmaceuticals ended the quarter with $82.8 million in cash, cash equivalents, and short-term investments. Research and development expenses decreased to $4.9 million from $11.0 million in the prior year, primarily due to the suspension of development activities for mavodelpar and workforce reductions. General and administrative expenses also decreased to $4.6 million from $5.1 million, attributed to the same cost-saving measures. The company had previously announced in December 2023 that the STRIDE study of mavodelpar did not meet its primary or secondary efficacy endpoints, leading to the suspension of the drug's development and a significant workforce reduction of approximately 90%. Additionally, Reneo Pharmaceuticals has engaged an independent financial advisor to explore potential strategic alternatives.
On May 7, 2024, Reneo Pharmaceuticals, Inc. released its financial results for the first quarter ending March 31, 2024, and provided a business update. The company reported a net loss of $8.4 million, or $0.25 per share, a decrease from the $15.1 million, or $0.60 per share, loss in the same period the previous year. Reneo Pharmaceuticals ended the quarter with $82.8 million in cash, cash equivalents, and short-term investments. Research and development expenses decreased to $4.9 million from $11.0 million in the prior year, primarily due to the suspension of development activities for mavodelpar and workforce reductions. General and administrative expenses also decreased to $4.6 million from $5.1 million, attributed to the same cost-saving measures. The company had previously announced in December 2023 that the STRIDE study of mavodelpar did not meet its primary or secondary efficacy endpoints, leading to the suspension of the drug's development and a significant workforce reduction of approximately 90%. Additionally, Reneo Pharmaceuticals has engaged an independent financial advisor to explore potential strategic alternatives.
2024年5月7日,Reneo Pharmaceuticals, Inc.發佈了截至2024年3月31日第一季度的財務業績,並提供了業務更新。公司報告淨損失爲840萬美元,每股虧損0.25美元,與前一年同期的1510萬美元,每股0.60美元的虧損相比有所下降。Reneo Pharmaceuticals季末現金、現金等價物和短期投資合計8280萬美元。研發費用從上一年的1100萬元降至490萬元,主要是由於mavodelpar開發活動暫停和員工減少所致。同時,總部管理費用也從510萬元降至460萬元,歸因於同樣的節約成本措施。公司此前在2023年12月宣佈,mavodelpar的STRIDE研究未達到主要或次要療效終點,導致該藥物的開發中止和約90%的人員大幅減少。此外,Reneo Pharmaceuticals已經聘請獨立財務顧問探討潛在的戰略方案。
2024年5月7日,Reneo Pharmaceuticals, Inc.發佈了截至2024年3月31日第一季度的財務業績,並提供了業務更新。公司報告淨損失爲840萬美元,每股虧損0.25美元,與前一年同期的1510萬美元,每股0.60美元的虧損相比有所下降。Reneo Pharmaceuticals季末現金、現金等價物和短期投資合計8280萬美元。研發費用從上一年的1100萬元降至490萬元,主要是由於mavodelpar開發活動暫停和員工減少所致。同時,總部管理費用也從510萬元降至460萬元,歸因於同樣的節約成本措施。公司此前在2023年12月宣佈,mavodelpar的STRIDE研究未達到主要或次要療效終點,導致該藥物的開發中止和約90%的人員大幅減少。此外,Reneo Pharmaceuticals已經聘請獨立財務顧問探討潛在的戰略方案。
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