Theseus Pharmaceuticals reports Q2 EPS (34c), consensus (36c)

As of June 30, Theseus had cash, cash equivalents, and marketable securities of $234.2M, as compared to $211.8M as of December 31, 2022. Theseus expects its current cash, cash equivalents, and marketable securities to fund operations and capital expenditures into 2026 based on its current operating plan. “We are excited to be advancing our pipeline, including lead candidate THE-349, a potential best-in-class fourth generation EGFR inhibitor, and continue to expect an IND submission for THE-349 in EGFR-mutant NSCLC in Q4. Additionally, we look forward to nominating development candidates from our BCR-ABL and next-generation KIT programs in the first half of next year,” said Tim Clackson, CEO. “While we are disappointed by the outcome of the THE-630 program in GIST patients, we believe the update announced today supports the exploration of THE-630 in mast cell-driven diseases, which we anticipate pursuing internally or through a partnership.”