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CAMP4 Therapeutics Corporation (CAMP+3.82%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing a net loss of $13,484,000 compared to $11,696,000 in the same quarter the previous year. The increase in net loss is attributed to higher general and administrative expenses.
Research and development expenses decreased slightly to $9,702,000 from $9,819,000 in the same quarter the previous year. This decrease is primarily due to lower workforce-related expenses.
General and administrative expenses increased to $3,814,000 from $2,869,000, primarily due to increased stock-based compensation and consulting fees.
Interest income for the quarter was $94,000, down from $689,000 in the previous year, reflecting lower average cash equivalent balances.
CAMP4 reported no revenue for the quarter, compared to $350,000 in the previous year, which was related to a sublicense agreement with Fulcrum Therapeutics, Inc. (FULC-0.50%)
As of September 30, 2024, CAMP4 had cash and cash equivalents of $2,528,000. The company received additional proceeds from its initial public offering in October and November 2024, which are expected to fund operations for at least 12 months.
The filing highlights CAMP4's reliance on third-party manufacturers for the production of its product candidates and the potential risks associated with supply disruptions.
CAMP4's lead product candidate, CMP-CPS-001, is currently in a Phase 1 clinical trial in Australia. The company is also focusing on the development of its RNA Actuating Platform for future product candidates.
The company acknowledges its dependence on additional funding to continue its research and development programs and to achieve regulatory approval and commercialization of its product candidates.
The filing details various collaboration and license agreements, including those with the Whitehead Institute for Biomedical Research and Fulcrum Therapeutics, Inc.
CAMP4 identified risks related to its financial position, need for additional capital, and reliance on third-party manufacturers and collaborators.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the CAMP4 Therapeutics Corporation quarterly 10-Q report dated November 21, 2024. To report an error, please email earnings@qz.com.