Published on 6 May 2024 on GuruFocus.com via Yahoo Finance
Revenue: Reported Q1 revenue of $5.1 million, slightly below the prior year's $5.3 million and falling short of the estimated $6.91 million.Net Loss: Recorded a net loss of $25.0 million for Q1, an improvement from the previous year's $30.5 million, but still above the estimated net loss of $23.57 million.Research and Development Expenses: Decreased to $25.5 million from $30.0 million year-over-year, reflecting lower personnel-related costs.General and Administrative Expenses: Reduced to $7.7 million from $8.6 million in the previous year, primarily due to lower personnel-related costs.Cash Position: Strong liquidity with $206.7 million in cash, cash equivalents, and marketable securities, expected to fund operations into the first half of 2026.Strategic Developments: Progress in clinical and preclinical programs, including the IND submission for FHD-909 and ongoing Phase 1 trial for FHD-286 in AML.Corporate Updates: Appointment of Kristian Humer as Chief Financial Officer and hosting of the Chromatin Regulation Summit.
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