The following is a summary of the BiomX Inc. (PHGE) Q3 2024 Earnings Call Transcript:
Financial Performance:
Cash, cash equivalents, and short-term deposits totaled $24.7 million as of September 30, 2024, down from $30.7 million as of December 31, 2023.
R&D expenses increased to $7.3 million in Q3 2024, up from $5.6 million in Q3 2023, mainly due to preparations for the Phase 2b trial of BX004 and clinical trial expenses for BX211.
G&A expenses rose to $3.2 million in Q3 2024, from $2.2 million in the same quarter the previous year, reflecting higher costs related to the acquisition of Adaptive Phage Therapeutics.Net income reached $9.6 million in Q3 2024, a significant turnaround from a net loss of $7.9 million in Q3 2023.
Business Progress:
BiomX completed patient enrollment for the Phase 2 trial of BX211 for diabetic foot osteomyelitis (DFO), with top line results expected in Q1 2025.
Presented positive safety and efficacy results from the BX004 Phase 1b/2a trial at major scientific conferences.
Expects to report top line results for the BX004 Phase 2b study in H1 2026 due to manufacturing delays now resolved.
Opportunities:
The ongoing development and potential of phage-based therapies in addressing antibiotic-resistant infections and associated conditions like DFO and cystic fibrosis.
Risks:
The initial slow progression and the potential delays in the clinical development timeline for BX004 due to scaling of manufacturing process.
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