Summary by Futu AI
Tharimmune, a clinical-stage biotechnology company, reported its financial performance and business developments for the quarter ended June 30, 2024. The company recorded a net loss of $2,325,057 for the quarter, with a net loss per share of $2.42. This compares to a net loss of $2,336,914 and a net loss per share of $52.06 for the same period in the previous year. The company's total operating expenses for the quarter were $2,373,454, which included research and development costs of $999,553 and general and administrative expenses of $1,373,901. Tharimmune's business development has been marked by the advancement of its therapeutic candidates, including TH104, which has shown positive results in a Phase 1 clinical trial. The company has also entered into significant agreements, such as the Avior License Agreement for the development of TH104 and TH103, and the Enkefalos License Agreement for global rights to cyclotides for delivering HER2 antibodies. Tharimmune's future plans include pursuing a 505(b)(2) approval pathway for TH104, initiating a Phase 2 trial for chronic pruritus in PBC patients, and advancing TH3215 and TH1940 into IND-enabling studies in 2025.
