Q2 2024 Inhibikase Therapeutics Inc Earnings Call Transcript
Key Points
- Completed enrollment for Phase 2 trial for risvodetinib in Parkinson's disease, with top-line data expected in November.
- Productive engagement with the FDA regarding IkT-001Pro for pulmonary arterial hypertension (PAH), with plans to open clinical development soon.
- Raised $4 million in May, extending cash runway into December 2024.
- Net loss decreased to $5.0 million from $5.8 million year-over-year, indicating improved financial management.
- Ongoing development of new antibody diagnostic and clinical biomarker tools for Parkinson's disease, with grant applications under review.
- Six participants withdrew from the Phase 2 trial for risvodetinib without completing the 12-week dosing.
- Research and development expenses decreased by $1.5 million year-over-year, potentially indicating reduced investment in new projects.
- Selling, general, and administrative expenses increased by $0.2 million, driven by higher legal and consulting fees.
- Existing cash and cash equivalents are only sufficient to fund operations into December 2024, necessitating further funding.
- Potential delays in launching the 12-month open-label extension study for risvodetinib due to financial constraints.
Greetings and welcome to the Inhibikase Therapeutics second-quarter 2024 financial results conference call. (Operator Instructions) As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Alex Lobo, Precision AQ, Investor Relations. Thank you, sir. You may begin.
Good morning, and welcome to Inhibikase Therapeutics' second-quarter 2024 financial results conference call and audio webcast. With me today is Dr. Milton Werner, Chief Executive Officer; and Garth Lees-Rolfe, Chief Financial Officer. On August 14, Inhibikase issued a press release announcing financial results for the second quarter ended June 30, 2024.
We encourage everyone to read yesterday's press release as well as in Inhibikase quarterly report on Form 10-Q, which has been filed with the SEC. The company's press release and Form 10-Q are also available on Inhibikase's website and Inhibikase.com. In addition, this conference call is being webcast with the Investor Relations section of the company
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