EDP2939 Phase 2 trial in moderate psoriasis fully enrolled with topline data expected early Q4 2023
– Completed $25.5 Million Private Placement– Restructured and reduced secured debt with Horizon Technology Finance Corporation
Cash Position: As of June 30, 2023, cash and cash equivalents were $7.6 million, as compared to cash and cash equivalents of $47.9 million as of December 31, 2022.
Research and Development (R&D) Expenses: R&D expenses were $13.0 million for the three months ended June 30, 2023, compared to $21.2 million for the three months ended June 30, 2022. R&D expenses were $30.9 million for the six months ended June 30, 2023, compared to $40.5 million for the six months ended June 30, 2022.
General and Administrative (G&A) Expenses: G&A expenses were $4.9 million for the three months ended June 30, 2023, compared to $8.4 million for the three months ended June 30, 2022. G&A expenses were $12.0 million for the six months ended June 30, 2023, compared to $17.8 million for the six months ended June 30, 2022.
Net Loss: Net loss was $21.1 million for the three months ended June 30, 2023, compared to $30.6 million for the three months ended June 30, 2022. Net loss was $46.4 million for the six months ended June 30, 2023, compared to $60.4 million for the six months ended June 30, 2022.
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