Cash and cash equivalents as of June 30, 2023, were $115.8M, compared to $38.3M as of December 31, 2022. Cash and cash equivalents are expected to be sufficient to fund the company’s planned operating and capital expenditures through 2024. “During our second quarter, we continued our preparations to begin a study in chronic spontaneous urticaria, which we anticipate initiating in the coming months,” said CEO Ronald Martell. “We also dosed the first patient in our Phase 1 trial evaluating briquilimab as second-line therapy in subjects with LR-MDS, and took significant additional steps taken to strengthen our Board and leadership teams. With a strong balance sheet, enhanced organization and a sound development plan, we believe we are well-positioned to advance our priority briquilimab development programs in rare and chronic diseases driven by mast and stem cells.”
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