THB335 Phase 1 data support advancement into Phase 2 clinical trial in chronic spontaneous urticaria (CSU)
Company initiating process to leverage balance sheet strength to maximize shareholder value
Cash and cash equivalents of approximately $285 million as of December 31, 2024 (unaudited)
Management to hold conference call/webcast today Tuesday, February 11, 2025, at 8:00 a.m. EST to discuss clinical results and corporate next steps
Corporate Strategic Outlook
In parallel with THB335 Phase 2 readiness activities, Third Harmonic Bio is initiating a process to identify opportunities to maximize shareholder value through a strategic transaction and/or business combination. The Company has engaged TD Cowen to advise on this process.
In conjunction with this announcement, the Company is halting all non-THB335 related research and discovery activities and undertaking a reduction in workforce of approximately 50%.
As of December 31, 2024, the Company had approximately $285 million in cash and cash equivalents (unaudited). After accounting for expenses related to THB335 Phase 2 readiness activities, continuing operations, and restructuring costs, the Company estimates it will have cash and cash equivalents in a range of approximately $262 million to $267 million on June 30, 2025.
Conference Call and Webcast
The conference call and webcast will take place today at 8:00 a.m. EST / 5:00 a.m. PST on February 11, 2025. Please click here to pre-register to participate in the conference call and obtain your dial in number and PIN.
A webcast of the live call will be available online under events and presentations within the investor relations section of the Third Harmonic Bio website. Access to the webcast replay will be available approximately two hours after completion of the call and will be archived on the Company’s website for approximately 90 days.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.