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Vigil Neuroscience, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing details ongoing clinical trials, including a Phase 2 trial for iluzanebart in ALSP patients and a Phase 1 trial for VG-3927 in healthy volunteers and Alzheimer's patients.
The company reported a net loss of $19.3 million for the quarter, compared to $20.5 million in the previous year, with research and development expenses totaling $13.8 million.
General and administrative expenses remained stable at $6.9 million, while interest income decreased to $1.4 million from $1.8 million.
Vigil Neuroscience's cash, cash equivalents, and marketable securities were reported at $111.3 million as of September 30, 2024.
The company completed a private placement with Sanofi (SNY-0.44%), issuing Series A Non-Voting Convertible Preferred Stock for $40 million, and established a right of first negotiation with Sanofi for its VG-3927 program.
Vigil Neuroscience continues to focus on developing microglia-targeted therapies for neurodegenerative diseases, with a strategy to expand its pipeline through internal development and strategic collaborations.
The filing also highlights potential risks, including the need for additional financing, reliance on third-party manufacturers, and the competitive landscape in neurodegenerative disease therapeutics.
Vigil Neuroscience is subject to various regulatory and compliance requirements, which could impact the development and commercialization of its therapeutic candidates.
The company acknowledges the challenges of maintaining sufficient capital and the potential impact of economic conditions on its operations and stock performance.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Vigil Neuroscience Inc. quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.