In This Story
Zura Bio Limited (ZURA0.00%) 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 $20.7 million, compared to $8.3 million in the same quarter the previous year. The increase in net loss is attributed to higher general and administrative expenses, including a $5.9 million non-cash share-based compensation charge.
Research and development expenses for the quarter were $6.0 million, up from $4.0 million in the previous year, driven by increased personnel compensation and consulting costs.
General and administrative expenses increased to $13.3 million from $6.2 million, primarily due to professional fees and share-based compensation.
Interest income for the quarter was $2.5 million, compared to $0.8 million in the previous year, due to higher cash balances.
Zura Bio completed a warrant exchange offer in August 2024, issuing 3,235,184 Class A ordinary shares in exchange for 10,784,008 IPO warrants.
The company raised $112.5 million through an April 2024 private placement, issuing Class A Ordinary Shares and pre-funded warrants.
Zura Bio's cash and cash equivalents as of September 30, 2024, were $188.2 million, up from $99.8 million at the end of 2023.
The filing details various licensing agreements, including those with Pfizer (PFE-0.78%) and Lilly (LLY+2.11%), which involve potential milestone payments and royalties.
Zura Bio continues to focus on advancing its product candidates through clinical development, with no products yet approved for commercial sale.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Zura Bio Limited quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.