Q2 2024 Lisata Therapeutics Inc Earnings Call Transcript
Key Points
- Lisata Therapeutics Inc (LSTA) reported a significant decrease in operating expenses, down 19.7% year-over-year.
- The company has a strong cash position with $38.3 million in cash, cash equivalents, and marketable securities, projected to fund operations into early 2026.
- Certepetide, the company's investigational product, has shown promising pre-clinical and early clinical data, supporting its potential in treating advanced solid tumors.
- The ASCEND trial for metastatic pancreatic ductal adenocarcinoma (mPDAC) has completed enrollment, with top-line data expected in Q4 2024.
- Lisata Therapeutics Inc (LSTA) has received multiple special regulatory designations for Certepetide, including Fast Track and Orphan Drug designations, which could expedite its approval process.
- Overall net losses increased to $5 million for Q2 2024, compared to $4 million in Q2 2023.
- The benefit from income taxes was $0 for Q2 2024, compared to $2.3 million in Q2 2023.
- Enrollment and data readouts for several clinical trials are subject to delays and uncertainties, particularly for investigator-initiated trials.
- The company's reliance on external funding and partnerships for certain trials could pose risks if funding or collaborations do not materialize as expected.
- Lisata Therapeutics Inc (LSTA) faces significant competition and challenges in the oncology space, particularly in the development and commercialization of new cancer therapies.
Welcome to the Lisata Therapeutics second quarter 2024 financial results and business update conference call. (Operator Instructions) As a reminder, this call is being recorded today, Monday, August 12, 2024.
I will now turn the call over to John Menditto, Vice President, Investor Relations and Corporate Communications at Lisata. Please go ahead, sir.
Thank you, operator, and good afternoon, everyone. Welcome to the Lisata's second quarter 2024 conference call to discuss our financial results and to provide a business update. Joining from our management team are Dr. David Mazzo, President and Chief Executive Officer; Dr. Kristen Buck, Executive Vice President of Research and Development and Chief Medical Officer; and James Nisco, Senior Vice President of Finance and Treasurer and Chief Accounting Officer.
Shortly before this call, we issued a press release announcing our second quarter 2024 financial results, which is available under
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