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8-K: eFFECTOR Therapeutics Reports First Quarter 2024 Financial Results and Provides Corporate Update

SEC ·  May 10, 2024 04:15

Summary by Moomoo AI

On May 9, 2024, eFFECTOR Therapeutics, Inc., a clinical-stage biopharmaceutical company, announced its financial results for the first quarter ending March 31, 2024, and provided a corporate update. The company reported progress in its zotatifin program, including the completion of the ZF doublet dose escalation and ongoing dose escalation in the ZFA triplet, with the recommended phase 2 dose (RP2D) expected in the second half of 2024. eFFECTOR also highlighted a median progression-free survival (mPFS) of 7.4 months in heavily pre-treated patients within the ZFA triplet cohort. Despite disappointing results from the KICKSTART trial in NSCLC, the company remains committed to advancing its pipeline, including continuing investigator-sponsored trials of zotatifin in ER+ breast cancer and tomivosertib in AML. The company also completed a registered...Show More
On May 9, 2024, eFFECTOR Therapeutics, Inc., a clinical-stage biopharmaceutical company, announced its financial results for the first quarter ending March 31, 2024, and provided a corporate update. The company reported progress in its zotatifin program, including the completion of the ZF doublet dose escalation and ongoing dose escalation in the ZFA triplet, with the recommended phase 2 dose (RP2D) expected in the second half of 2024. eFFECTOR also highlighted a median progression-free survival (mPFS) of 7.4 months in heavily pre-treated patients within the ZFA triplet cohort. Despite disappointing results from the KICKSTART trial in NSCLC, the company remains committed to advancing its pipeline, including continuing investigator-sponsored trials of zotatifin in ER+ breast cancer and tomivosertib in AML. The company also completed a registered direct financing in January 2024, raising $15.0 million and extending its cash runway into the first quarter of 2025. Financially, eFFECTOR reported a decrease in R&D expenses compared to the same quarter in the previous year and a slight increase in G&A expenses. The net loss for the quarter was $8.8 million, or $2.16 per share, compared to a net loss of $10.0 million, or $5.96 per share for the same period in 2023.

This announcement is a separate document:

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