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Boundless Bio Inc. (BOLD+1.64%) has submitted its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's focus on developing ecDNA-directed therapeutic candidates (ecDTx) to treat oncogene amplified tumors, which are observed in 14 to 17% of cancer patients.
Boundless Bio's lead product candidate, BBI-355, is a selective inhibitor of checkpoint kinase 1 (CHK1) and is currently in a Phase 1/2 clinical trial for oncogene amplified cancers.
The company decided not to advance its ecDTx known as BBI-825 following an assessment of preliminary pharmacokinetic data from its Phase 1/2 STARMAP trial.
Boundless Bio has developed an ecDNA diagnostic, ECHO, to identify patients who may benefit from its ecDTx, currently used in the BBI-355 POTENTIATE trial.
The company reported a net loss of $65.4 million for the year ended December 31, 2024, compared to a net loss of $49.4 million for the previous year.
Research and development expenses increased to $55.3 million in 2024 from $42.6 million in 2023, primarily due to the advancement of clinical trials and development programs.
General and administrative expenses rose to $18.0 million in 2024 from $12.2 million in 2023, attributed to increased personnel costs and expenses associated with being a public company.
As of December 31, 2024, Boundless Bio had cash, cash equivalents, and short-term investments totaling $152.1 million, expected to fund operations into 2027.
The company anticipates the need for substantial additional funding to support its operations and long-term business plan, including the development and commercialization of its ecDTx.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Boundless Bio Inc. annual 10-K report dated March 27, 2025. To report an error, please email earnings@qz.com.