Tue, Nov 12, 2:22 PM (97 days ago)
Inhibitor Therapeutics, Inc. (INTI) reported its Q3 2024 results, highlighting a continued focus on developing innovative cancer therapeutics utilizing itraconazole. As of September 30, 2024, cash and cash equivalents were approximately $6.4 million, down from $8.8 million at year-end 2023. The company incurred no revenue, with total expenses of $0.8 million for Q3 2024, slightly up from $0.76 million in Q3 2023. Research and development (R&D) expenses remained stable at $0.3 million, while general and administrative expenses were consistent at $0.5 million. The net loss for Q3 2024 was $0.73 million versus $0.66 million in Q3 2023, reflecting ongoing operational costs. The company has deferred revenue of $3 million related to royalties from Mayne Pharma, pending FDA approval of its BCCNS product. INTI's future operations hinge on favorable FDA feedback regarding its clinical plans, which could necessitate additional funding. Overall, INTI's financial health indicates a stable but cautious approach as it navigates regulatory pathways and potential capital needs.