Q2 2024 Cyclacel Pharmaceuticals Inc Earnings Call Transcript
Key Points
- Recruitment in the enriched cohort of the 065-101 phase 2 proof-of-concept study is progressing well.
- Fadraciclib (Fadra) has shown clinical benefits in heavily pre-treated patients with various tumor types.
- The company has opened a second cohort for patients with T-cell lymphoma based on promising phase 1 results.
- Cash equivalents increased to $6 million as of June 30, 2024, compared to $3.4 million as of December 31, 2023.
- Net cash used in operating activities decreased significantly to $3.6 million for the first half of 2024, compared to $8.2 million for the same period in 2023.
- The most commonly reported treatment-related adverse events for Fadra include nausea, vomiting, diarrhea, fatigue, and hyperglycemia.
- A total of 25 drug-related serious adverse events (SAEs) were reported in eight patients.
- R&D expenses for the three months ended June 30, 2024, were $2 million, indicating ongoing high costs.
- The company estimates that its current cash resources will only fund planned programs into the fourth quarter of 2024.
- Net loss for the three months ended June 30, 2024, was $3.3 million, indicating continued financial challenges.
Good afternoon, everyone. And thank you for joining today's conference call to discuss Cyclacel's financial results and business highlights for the second quarter ended June 30, 2024. Before turning the call over to management, I would like to remind everyone that during this conference call, forward-looking statements made by management are intended to fall within the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934 as amended.
As set forth in our press release, forward-looking statements involve risks and uncertainties that may affect the company's business and prospects, including those discussed in our filings with the Securities and Exchange Commission, which include, among other things, our Forms 10-Q and 10-K. All of our projections and other forward-looking statements represent our judgment as of today, and Cyclacel does not take any responsibility to update such information.
With us today are Spiro Rombotis, President and Chief Executive Officer
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