Oncternal Therapeutics reports Q2 EPS ,(15c) consensus (16c)

Reports Q2 grant revenue$100K, consensus of $200K .. Our total operating expenses for the second quarter ended June 30 were $9.7M, including $1.7M in non-cash stock-based compensation expense. Research and development expenses for the quarter totaled $6.6M, and general and administrative expenses for the quarter totaled $3.1M. Net loss for the first quarter was $9M, or a loss of 15c per share, basic and diluted. As of June 30..had approximately 58.7M shares of common stock outstanding, $45.5M in cash, cash equivalents and short-term investments and no debt. We believe these funds will be sufficient to fund our operations into 2025. Cash runway extended into 2025, with $45.5 million in cash, cash equivalents and short-term investments and no debt as of June 30…”Oncternal is executing on its strategy to deliver significant value inflection points for our two clinical programs. The clearance of the IND for ONCT-534, our dual-action androgen receptor inhibitor, represents a major milestone for Oncternal and a new potential option for patients suffering from mCRPC. We have received support from top prostate cancer experts in the United States and Europe. We reiterate our guidance to dose the first patient later this year, with initial clinical data in the first half of 2024. Resistance to standard of care androgen receptor signaling inhibitors such as enzalutamide and abiraterone represents a significant unmet medical need. Pre-clinical studies have shown that ONCT-534 may directly address the most common resistance mechanisms, such as androgen receptor ligand-binding domain mutations and AR-V7 splice variants,” said James Breitmeyer, M.D., Ph.D., Oncternal’s President and CEO. “The dosing of the first patient with ONCT-808, our ROR1 targeting autologous CAR T therapy, represents a significant milestone for patients suffering from aggressive B-cell lymphomas. We look forward to a data update later this year in this area of significant unmet medical need.”