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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Theseus Pharmaceuticals Inc | NASDAQ:THRX | 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% | 4.06 | 4.05 | 3.91 | 0 | 01:00:00 |
CAMBRIDGE, Mass., March 10, 2022 /PRNewswire/ -- Theseus Pharmaceuticals, Inc. (NASDAQ: THRX) (Theseus or the Company), a clinical-stage biopharmaceutical company focused on improving the lives of cancer patients through the discovery, development and commercialization of transformative targeted therapies, today announced business highlights and reported financial results for the fourth quarter and full year ended December 31, 2021.
"2021 was a transformative year for Theseus—we evolved into a clinical stage company, strengthened our team, and completed a successful IPO," said Tim Clackson, Ph.D., President and Chief Executive Officer of Theseus. "In January 2022 we initiated a Phase 1/2 clinical trial to evaluate our lead candidate, THE-630, in patients with advanced GIST and continue to drive towards development candidate nomination for our fourth-generation EGFR program in non-small cell lung cancer. Over the course of this year, we look forward to executing across our pipeline, which includes advancing THE-630 in the clinic, initiating IND-enabling studies of our second development candidate targeting EGFR, and expanding our pipeline with one or more additional kinase targets."
Recent Business Highlights and Anticipated Milestones:
Fourth Quarter and Full Year Financial Results:
About Theseus Pharmaceuticals, Inc.
Theseus is a clinical-stage biopharmaceutical company focused on improving the lives of cancer patients through the discovery, development and commercialization of transformative targeted therapies. Theseus is working to outsmart cancer resistance by developing pan-variant tyrosine kinase inhibitors (TKIs) to target all known classes of cancer-causing and resistance mutations that lead to variants in a particular protein in a given type of cancer. Theseus' lead product candidate, THE-630, is a pan-variant KIT inhibitor for the treatment of patients with advanced gastrointestinal stromal tumors (GIST), whose cancer has developed resistance to earlier lines of kinase inhibitor therapy. Theseus is also developing a fourth-generation, selective epidermal growth factor receptor (EGFR) inhibitor for C797S-mediated resistance to first- or later-line osimertinib treatment in patients with non-small cell lung cancer (NSCLC). For more information, visit www.theseusrx.com.
Cautionary Statement Regarding Forward Looking Statements
Certain statements included in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding Theseus' strategy, future operations, prospects and plans, the structure and timing of its planned preclinical studies and clinical trials, expected milestones, market opportunity and sizing and objectives of management, including in relation to the Phase 1/2 dose escalation and expansion clinical trial for THE-630, EGFR inhibitor program and other programs.
Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, such as those described from time to time in the reports Theseus files with the Securities and Exchange Commission (SEC), including Theseus' Form 10-Q for the quarter ended September 30, 2021 filed with the SEC on November 15, 2021 and Theseus' Form 10-K for the year ended December 31, 2021 expected to be filed with the SEC in the first quarter of 2022. However, new risk factors and uncertainties may emerge from time to time, and it is not possible to predict all risk factors and uncertainties. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements. Any forward-looking statements contained in this press release are based on the current expectations of Theseus' management team and speak only as of the date hereof, and Theseus specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
Media Contact
Amy Jobe, Ph.D.
LifeSci Communications
315-879-8192
ajobe@lifescicomms.com
Investor Contact
Christen Baglaneas
Theseus Pharmaceuticals
857-706-4993
christen.baglaneas@theseusrx.com
Theseus Pharmaceuticals, Inc. | ||||||||||||
Condensed Consolidated Statements of Operations and Comprehensive Loss | ||||||||||||
(in thousands, except share and per share data) | ||||||||||||
Three Months Ended December 31, | Year Ended December 31, | |||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||
Operating expenses: | ||||||||||||
Research and development | $ | 5,022 | $ | 2,488 | $ | 18,328 | $ | 5,958 | ||||
General and administrative | 3,637 | 400 | 9,008 | 878 | ||||||||
Total operating expenses | 8,659 | 2,888 | 27,336 | 6,836 | ||||||||
Loss from operations | (8,659) | (2,888) | (27,336) | (6,836) | ||||||||
Other income (expense), net | 3 | (2) | 28 | (5,161) | ||||||||
Net loss | $ | (8,656) | $ | (2,890) | $ | (27,308) | $ | (11,997) | ||||
Net loss per share attributable to common | $ | (0.24) | $ | (3.78) | $ | (2.84) | $ | (21.10) | ||||
Weighted-average common stock outstanding—basic | 35,877,802 | 763,746 | 9,631,818 | 568,467 |
Theseus Pharmaceuticals, Inc. | ||||||
Condensed Consolidated Balance Sheets | ||||||
(in thousands) | ||||||
December 31, | ||||||
2021 | 2020 | |||||
Assets | ||||||
Cash and cash equivalents | $ | 244,662 | $ | 8,457 | ||
Other assets | 6,267 | 157 | ||||
Total assets | 250,929 | 8,614 | ||||
Liabilities, Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) | ||||||
Liabilities | 4,495 | 1,595 | ||||
Redeemable convertible preferred stock | - | 41,289 | ||||
Stockholders' equity (deficit) | 246,434 | (34,270) | ||||
Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit) | $ | 250,929 | $ | 8,614 | ||
View original content:https://www.prnewswire.com/news-releases/theseus-pharmaceuticals-announces-business-highlights-and-reports-fourth-quarter-and-full-year-2021-financial-results-301499774.html
SOURCE Theseus Pharmaceuticals
Copyright 2022 PR Newswire
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