10-Q - Artiva Biotherapeutics, Inc. (0001817241) (Filer)
Thu, Aug 29, 8:22 PM (144 days ago)
Artiva Biotherapeutics, Inc. reported a net loss of $31.8 million for the six months ended June 30, 2024, compared to a loss of $28.0 million for the same period in 2023. The company's total revenue for the quarter was $0, down from $3.5 million in Q2 2023, primarily due to the termination of the Merck Collaboration Agreement. Operating expenses decreased slightly to $30.9 million from $34.0 million, driven by reduced research and development costs. As of June 30, 2024, cash and cash equivalents totaled $34.2 million, supplemented by $12.3 million in short-term investments. The company anticipates using its IPO proceeds of $161.9 million to fund operations through 2026. Despite ongoing clinical trials for its lead candidate, AlloNK, the company faces uncertainties related to regulatory approvals and competition in the biopharmaceutical sector. Cash flow remains negative, and the company continues to rely on external funding and partnerships for future operations. The potential impact of regulatory changes and market acceptance of its therapies are highlighted as significant risks.