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Share Name | Share Symbol | Market | Type |
---|---|---|---|
RayzeBio Inc | NASDAQ:RYZB | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 62.49 | 60.00 | 68.11 | 0 | 01:00:00 |
“We have made significant progress in 2023 and achieved several clinical, discovery and corporate milestones as we continue to lead innovation in developing targeted radiopharmaceuticals for the benefit of patients with cancer,” said Ken Song, M.D., President and CEO of RayzeBio. “Our lead asset, RYZ101, is the first Actinium-225 based treatment in a Phase 3 clinical trial. We are on track to file an IND in the first half of 2024 for our next clinical drug candidate, which is focused on treating patients with liver cancer. Additionally, our oversubscribed IPO in September 2023 provides us with a strong balance sheet to fully invest in our initiatives.”
Recent Highlights and Upcoming Milestones
Third Quarter Financial Results
About RayzeBioRayzeBio is building a vertically integrated radiopharmaceutical therapeutics (RPT) company to treat various cancers, with its lead program in a Phase 3 clinical trial. RayzeBio has created a pipeline of multiple drug candidates in therapeutic areas with significant market opportunities. Much like antibody drug conjugates emerged as a new and transformative treatment modality in certain cancers, the company sees an opportunity for innovative radiopharmaceutical therapeutics to follow a similar path. RayzeBio believes its strategic investments in building a robust product pipeline, development capabilities, and manufacturing infrastructure position the company to be an industry-leading pioneer in the broad application of RPT for cancer.
Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this press release that are not statements of historical fact are forward-looking statements. Such forward-looking statements include, without limitation, statements regarding the Company’s ambition to become the leading targeted radiopharmaceutical company; the Company’s expectations regarding plans for its current and future product candidates and programs; the potential therapeutic benefits of the Company’s current and future product candidates; the planned clinical development of RYZ101, RYZ801 and the timing thereof, including anticipated timing of completion of enrollment of the ACTION-1 clinical trial and interim results thereof, as well as timing of IND submission for RYZ801; the expected timing of operationalizing the Company’s manufacturing facility; and expectations regarding the time period over which the Company’s capital resources will be sufficient to fund its anticipated operations. Words such as “believe,” “anticipate,” “plan,” “expect,” “intend,” “will,” “may,” “goal,” “potential” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements necessarily contain these identifying words. These forward-looking statements are based on the beliefs of the management of the Company as well as assumptions made by and information currently available to the Company. Such statements reflect the current views of the Company with respect to future events and are subject to known and unknown risks and uncertainties, including business, regulatory, economic and competitive risks and uncertainties about the Company, including, without limitation, risks inherent in developing drug candidates, future results from the Company’s ongoing and planned clinical trials, the Company’s ability to obtain adequate financing to fund its planned clinical trials and other expenses, risks that future clinical trial results may not be consistent with interim, initial or preliminary results or results from prior preclinical studies or clinical trials, trends in the industry, the legal and regulatory framework for the industry and future expenditures. In light of these risks and uncertainties, the events or circumstances referred to in the forward-looking statements may not occur. The actual results may vary from the anticipated results and the variations may be material. Other factors that may cause the Company’s actual results to differ from current expectations are discussed in the Company’s filings with the Securities and Exchange Commission, including the section titled “Risk Factors” in the Company’s Quarterly Report on From 10-Q for the quarter ended September 30, 2023. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date this press release is given. Except as required by law, the Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact: Arvind Kush Email: info@rayzebio.com
RayzeBio, Inc.Condensed Statements of Operations and Comprehensive Loss(in thousands, except share and per share data)(unaudited) | |||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||||||
Operating Expenses: | |||||||||||||||
Research and development | $ | 18,170 | $ | 18,828 | $ | 48,759 | $ | 46,416 | |||||||
General and administrative | 3,481 | 2,122 | 9,479 | 8,244 | |||||||||||
Total operating expenses | 21,651 | 20,950 | 58,238 | 54,660 | |||||||||||
Loss from operations | (21,651 | ) | (20,950 | ) | (58,238 | ) | (54,660 | ) | |||||||
Total other income, net | 3,460 | 503 | 9,436 | 762 | |||||||||||
Net loss | (18,191 | ) | (20,447 | ) | (48,802 | ) | (53,898 | ) | |||||||
Dividends | (1,209 | ) | (4,550 | ) | (1,209 | ) | (4,550 | ) | |||||||
Net loss attributable to common stockholders | (19,400 | ) | (24,997 | ) | (50,011 | ) | (58,448 | ) | |||||||
Net loss per share attributable to common stockholders, basic and diluted | $ | (1.26 | ) | $ | (6.55 | ) | $ | (5.99 | ) | $ | (17.14 | ) | |||
Weighted-average common shares outstanding, basic and diluted | 15,399,901 | 3,817,307 | 8,350,628 | 3,409,940 | |||||||||||
RayzeBio, Inc.Selected Condensed Balance Sheet Data(in thousands)(unaudited) | |||||||
September 30,2023 | December 31,2022 | ||||||
Cash and cash equivalents | $ | 251,964 | $ | 129,159 | |||
Short-term investments | 288,205 | 167,087 | |||||
Total assets | 603,513 | 324,776 | |||||
Total liabilities | 28,191 | 20,812 | |||||
Accumulated deficit | (180,127 | ) | (130,116 | ) |
1 Year RayzeBio Chart |
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