Entrada misses in Q3

 On track to submit Investigational New Drug application to the U.S. Food and Drug Administration for ENTR-601-44 for the potential treatment of patients with Duchenne muscular dystrophy who are exon 44 skipping amenable in the fourth quarter of 2022

Cash runway into 2H 2024 with $216 million in cash, cash equivalents and marketable securities as of September 30, 2022

Corporate Highlights

• Presented ENTR-701 preclinical data at the 27th International Annual Congress of the World Muscle Society in Halifax, Canada. ENTR-701 is being developed for the potential treatment of DM1. Following a single dose of EEV-conjugated phosphorodiamidate morpholino oligomer, HSA-LR mice showed normalization of muscle relaxation time 7 days post treatment that was sustained for 4 weeks. These data build upon previously reported studies that demonstrate splicing correction and amelioration of myotonia in HSA-LR mice for at least 8 weeks after a single dose of ENTR-701 and provide further evidence of the potential for therapeutic benefit in patients with DM1.
  

• Entered a collaboration in August with the Myotonic Dystrophy Clinical Research Network supporting END-DM1 (Establishing Biomarkers and Clinical Endpoints in Myotonic Dystrophy Type 1). END-DM1 is a natural history study to advance the understanding of disease progression in patients with DM1.

Third Quarter 2022 Financial Results

Cash Position: Cash, cash equivalents and marketable securities were $215.6 million as of September 30, 2022, compared to $291.1 million as of December 31, 2021. Based on current operating plans, Entrada expects its existing cash, cash equivalents and marketable securities will enable the Company to fund its operating expenses and capital expenditure requirements into the second half of 2024.

Research & Development (R&D) Expenses: R&D expenses for the third quarter of 2022 were $19.0 million, compared to $10.5 million for the same period in 2021. This increase was primarily due to additional investment in preclinical studies to support future clinical trials, enhanced facility and equipment-related investments and higher personnel costs (including non-cash stock-based compensation).

General & Administrative (G&A) Expenses: G&A expenses for the third quarter of 2022 were $7.0 million, compared to $3.9 million for the same period in 2021. This increase was primarily due to higher personnel costs (including non-cash stock-based compensation), legal and other professional fees, and facilities costs.

Net Loss: Net loss for the third quarter of 2022 was $25.1 million, compared to $14.4 million for the same period of 2021.

https://finance.yahoo.com/news/entrada-therapeutics-reports-third-quarter-120000689.html