Published on 9 Nov 2023 on GuruFocus.com via Yahoo Finance
Viracta Therapeutics Inc (VIRX) Reports Q3 2023 Financial Results Amid Clinical Advances
Viracta Therapeutics Inc (NASDAQ:VIRX) announced preliminary clinical data from the NAVAL-1 trial showing a 40% response rate in EBV+ peripheral T-cell lymphoma.Interim data from a Phase 1b/2 trial in advanced EBV+ solid tumors showed partial responses at higher doses with no dose-limiting toxicities observed.Financial results indicate a cash position sufficient to fund operations through late 2024, with R&D expenses increasing due to clinical program advancements.Net loss for Q3 2023 was $12.6 million, a decrease from $17.7 million in Q3 2022.
Warning! GuruFocus has detected 3 Warning Signs with VIRX.
On November 9, 2023, Viracta Therapeutics Inc (NASDAQ:VIRX), a clinical-stage precision oncology company, released its financial results for the third quarter of 2023, alongside a comprehensive business update. The company highlighted significant progress in its clinical trials, particularly the NAVAL-1 trial for its lead candidate Nana-val, which targets Epstein-Barr virus-positive (EBV+) cancers.