Summary by Futu AI
On March 28, 2024, Apollomics Inc., a late-stage clinical biopharmaceutical company, announced its full-year financial results for 2023 and provided updates on its clinical progress. The company reported a cash position of $37.8 million as of December 31, 2023, with a projected cash runway through the first quarter of 2025. Apollomics highlighted significant advancements in its vebreltinib program for non-small cell lung cancer and other solid tumors with MET dysregulation. The company also completed patient enrollment for a Phase 3 bridging study in China for uproleselan, an E-selectin inhibitor, with topline data expected in the first half of 2025. Research and development expenses for the year were $34.2 million, and general and administrative expenses were $20.6 million. The net loss for the year was $(172.6) million, or $(2.32) per diluted share. The company also held a conference call to discuss these results and provide a corporate update.