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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., Nov. 15, 2021 /PRNewswire/ -- Theseus Pharmaceuticals, Inc. (NASDAQ: THRX), a biopharmaceutical company focused on improving the lives of cancer patients through the discovery, development and commercialization of transformative targeted therapies, today announced business and program highlights and reported financial results for the third quarter ended September 30, 2021.
"At Theseus, we are leveraging our deep expertise in the development of targeted therapies to address the problem of drug resistance mutations in cancer," said Tim Clackson, Ph.D., President and Chief Executive Officer of Theseus Pharmaceuticals. "The third quarter marked two significant milestones for Theseus: our entrance into the public markets and the start of our transition into a clinical-stage company. The recent IND clearance for our lead candidate, THE-630, a pan-variant KIT inhibitor with the potential to address unmet need in patients with previously treated gastrointestinal stromal tumors (GIST), and the completion of our successful IPO position Theseus well to advance both the Phase 1/2 clinical trial of THE-630 and our pipeline of novel pan-variant inhibitors specifically designed to overcome the full range of drug resistance mutations."
Third Quarter Highlights and Upcoming Milestones:
Third Quarter Financial Results:
About Theseus Pharmaceuticals, Inc.
Theseus is a biopharmaceutical company focused on improving the lives of cancer patients through the discovery, development and commercialization of transformative targeted therapies. Theseus is developing next-generation tyrosine kinase inhibitors (TKIs): "pan-variant" targeted therapies that address all major drug resistance mutations. 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 clinical trial, expected milestones, market opportunity and sizing and objectives of management, including in relation to THE-630 and the planned Phase 1/2 does escalation and expansion clinical trial and its EGFR 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. 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.
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 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, | ||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||
Operating expenses: | |||||||||||
Research and development | $ | 4,996 | $ | 1,275 | $ | 13,306 | $ | 3,470 | |||
General and administrative | 2,378 | 154 | 5,371 | 478 | |||||||
Total operating expenses | 7,374 | 1,429 | 18,677 | 3,948 | |||||||
Loss from operations | (7,374) | (1,429) | (18,677) | (3,948) | |||||||
Other income (expense), net | 2 | — | 25 | (5,159) | |||||||
Net loss | $ | (7,372) | $ | (1,429) | $ | (18,652) | $ | (9,107) | |||
Net loss per share attributable to common stockholders—basic and diluted | $ | (5.16) | $ | (2.12) | $ | (18.69) | $ | (18.11) | |||
Weighted-average common stock outstanding—basic and diluted | 1,428,054 | 672,911 | 997,949 | 502,804 |
Theseus Pharmaceuticals, Inc. | ||||||
Condensed Balance Sheets (in thousands, except share and per share data) (Unaudited) | ||||||
NINE MONTHS ENDED | YEAR ENDED | |||||
SEPTEMBER 30, | DECEMBER 31, | |||||
2021 | 2020 | |||||
Assets | ||||||
Cash and cash equivalents | $ | 90,404 | $ | 8,457 | ||
Other assets | 7,215 | 157 | ||||
Total assets | $ | 97,619 | $ | 8,614 | ||
Liabilities, Redeemable Convertible Preferred Stock and Stockholders' Deficit | ||||||
Liabilities | 6,583 | 1,595 | ||||
Redeemable convertible preferred stock | 141,181 | 41,289 | ||||
Stockholders' deficit | (50,145) | (34,270) | ||||
Total liabilities, redeemable convertible preferred stock and stockholders' deficit | $ | 97,619 | $ | 8,614 |
View original content:https://www.prnewswire.com/news-releases/theseus-pharmaceuticals-announces-business-and-program-highlights-and-reports-third-quarter-2021-financial-results-301423774.html
SOURCE Theseus Pharmaceuticals
Copyright 2021 PR Newswire
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