Tue, May 14, 8:31 PM (73 days ago)
Vincerx Pharma, Inc. reported a net loss of $12.4 million for Q1 2024, down from $14.7 million in Q1 2023. The decrease in net loss was driven by a reduction in operating expenses, which fell to $7.5 million from $15.4 million year-over-year. Research and development expenses dropped by $6.4 million, primarily due to lower manufacturing and research service costs, and reduced personnel expenses. General and administrative expenses decreased by $1.6 million, mainly due to lower personnel and professional service costs. The company’s cash and cash equivalents stood at $5.1 million as of March 31, 2024. Vincerx raised an additional $17.8 million in April 2024 through a public offering. The company anticipates needing further capital to fund operations beyond 2024 and faces uncertainties related to its ability to secure such funding.