Summary by Moomoo AI
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