GT Biopharma reports Q2 EPS (5c) vs (10c) last year

“We continue to prudently manage expenses while moving pipeline development across our novel portfolio of TriKE nanobody assets forward. We expect to advance GTB-3650, a second generation nanobody TriKE for the treatment of CD33+ leukemia, with GTB-5550 for the treatment of B7H3+ solid tumors to follow. We continue to expect investigational new drug filing with the U.S. Food and Drug Administration for GTB-3650 to occur in the second half of 2023,” said Michael Breen, Executive Chairman and interim Chief Executive Officer. “In conjunction with these efforts, we maintain a cash balance on hand that will provide an operational runway into Q3 2024, anticipated to be sufficient to achieve IND clearance and initiate clinical trial activities for GTB-3650. Additionally, we continue to actively explore potential development partnerships for our programs.”