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Inhibitor Therapeutics Inc (INTI-14.25%). has submitted its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.
The filing outlines the company's focus on developing and commercializing therapeutics for cancer and non-cancerous proliferation disorders using itraconazole. The company has secured an exclusive license agreement with Johns Hopkins University for a patent related to the treatment of prostate cancer, basal cell carcinoma, and lung cancer.
Research and development expenses for the year totaled $1.7 million, up from $1.4 million in the previous year, primarily due to increased internal personnel costs. General and administrative expenses remained stable at approximately $2.0 million.
The company reported a net loss of $3.3 million for the year, compared to a net loss of $3.0 million in the prior year. Interest income contributed $0.3 million to the company's financials.
As of December 31, 2024, Inhibitor Therapeutics held $5.6 million in cash and cash equivalents, down from $8.8 million at the end of 2023. The company believes its current cash reserves are sufficient to continue its business plan without requiring additional clinical trials.
The company is progressing with the FDA on its new formulation of itraconazole, developed in collaboration with Avior Bio, Inc. The formulation is expected to deliver comparable levels of itraconazole as previous formulations used in clinical trials.
Inhibitor Therapeutics operates in a single segment related to the development and commercialization of therapeutics, with its CEO overseeing operations and resource allocation.
The company has no current revenue and relies on cash reserves and potential future financing to support its operations. It has a deferred revenue of $3 million related to royalties advanced by Mayne Pharma.
In January 2025, the company executed a new three-year lease for office space in Tampa, Florida, with an annual base rent of approximately $22,000.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Inhibitor Therapeutics Inc annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.