https://d1io3yog0oux5.cloudfront.net/...Top_line_Data_from_WM_315.pdf
Preliminary Third Quarter 2023 Financial Highlights
Cash and Cash Equivalents:As of September 30, 2023, the company had cash and
cash equivalents of $19.0 million, compared to $19.9 million as of December 31, 2022.
During the third quarter, the company entered into a securities purchase agreement
with certain institutional investors for a private placement financing that is expected to
result in gross proceeds of up to $102.9 million, based upon achievement of certain
milestones. Current cash includes an initial funding of $22.2 million from the
transaction, net of commissions and fees. The company believes its cash on hand is
adequate to fund budgeted operations into the second quarter of 2024.
Research and Development Expense: R&D expense for the three months ended
September 30, 2023 was approximately $7.3 million, compared to approximately $5.4
million for the three months ended September 30, 2022. The overall increase in
research and development expense was primarily a result of an increase in WM pivotal
trial patient enrollment and expansion of the central nervous system lymphoma cohort
of the company’s Phase 2a basket trial in blood-b |
