Kintara Therapeutics (KTRA) Announces Fiscal 2023 Year Financial Results and Provides Corporate Update
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Kintara Therapeutics, Inc. (NASDAQ: KTRA) ("Kintara" or the "Company"), a biopharmaceutical company focused on the development of new solid tumor cancer therapies, today announced financial results for its fiscal year ended
RECENT CORPORATE DEVELOPMENTS
- Awarded a
$2.0 millionSmall Business Innovation Research (SBIR) grant from the National Institutes of Health (NIH) to support the clinical development of REM-001, a second-generation photodynamic therapy (PDT) photosensitizer agent for the treatment of cutaneous metastatic breast cancer (CMBC). ( June 2023)
- Hosted a Key Opinion Leader (KOL) event featuring
Patrick Y. Wen, M.D. (Harvard Medical School) and John de Groot, M.D. (UCSF Health) who discussed the current treatment landscape for patients suffering from glioblastoma (GBM), the most common and lethal form of brain cancer, along with Kintara's potential treatment solution with VAL-083, a potential first-in-class small molecule chemotherapeutic. ( August 2023)
- Announced that the Company will be presenting a poster at the 2023 European Association of Neuro-Oncology (EANO) Annual Meeting taking place in
Rotterdam, Netherlands, September 21-24, 2023. The presentation will include data from its lead program, VAL-083, for the treatment of recurrent GBM. ( September 2023)
"We are looking forward to presenting additional compelling VAL-083 data at the EANO Annual Meeting later this month and continue to anticipate announcing top-line data in the international registrational GBM AGILE Study before the end of calendar 2023," commented
SUMMARY OF FINANCIAL RESULTS FOR FISCAL YEAR 2023 YEAR ENDED
For the year ended
Selected Balance Sheet Data (in thousands)
Cash and cash equivalents
Total stockholders' equity
Selected Statement of Operations Data (in thousands, except per share data)
For the year ended
Research and development
General and administrative
Net loss for the year
Series A Preferred cash dividend
Series C Preferred stock dividend
Net loss for the period attributable to common stockholders
Basic and fully diluted weighted average number of shares
Basic and fully diluted loss per share
Kintara's financial statements as filed with the U.S. Securities Exchange Commission can be viewed on the Company's website at: http://ir.kintara.com/sec-filings.
VAL-083 is a 'first-in-class', small-molecule chemotherapeutic with a novel mechanism of action that has demonstrated clinical activity against a range of cancers, including central nervous system (e.g., brain tumors), ovarian and other solid tumors (e.g., NSCLC, bladder cancer, head and neck) in
Kintara also has a proprietary, late-stage photodynamic therapy platform that holds promise as a localized cutaneous, or visceral, tumor treatment as well as in other potential indications. REM-001 Therapy, which consists of the laser light source, the light delivery device, and the REM-001 drug product, has been previously studied in four Phase 2/3 clinical trials in patients with CMBC who had previously received chemotherapy and/or failed radiation therapy. In CMBC, REM-001 has a clinical efficacy to date of 80% complete responses of CMBC evaluable lesions and an existing robust safety database of approximately 1,100 patients across multiple indications.
For more information, please visit www.kintara.com or follow us on X at @Kintara_Thera, Facebook and Linkedin.
SAFE HARBOR STATEMENT
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the status of the Company's clinical trials and the GBM AGILE Study. Any forward-looking statements contained herein are based on current expectations but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the outcome of the Company's clinical trials and the GBM AGILE Study; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, clinical studies and future product commercialization; the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies; global unrest; and the continued impact of the COVID-19 pandemic. These and other factors are identified and described in more detail in the Company's filings with the SEC, including the Company's Annual Report on Form 10-K for the year ended
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SOURCE Kintara Therapeutics
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