Summary by Futu AI
NexImmune, a clinical-stage biotechnology company, reported a net loss of $3.1 million for the three months ended March 31, 2024, a significant improvement from the $9.6 million net loss in the same period in 2023. The basic and diluted net loss per common share was $2.46 for the first quarter of 2024, compared to $9.17 in the first quarter of 2023. The company's research and development expenses decreased to $744,000 from $6.1 million year-on-year, reflecting a strategic shift in operations, including a reduction in force and a pause in clinical enrollment for certain product candidates. General and administrative expenses also decreased to $2 million from $3.7 million in the previous year. NexImmune has not generated any revenue from product sales and has relied on equity offerings and other financing...Show More