Entrada Therapeutics(US:TRDA)2024-03-13 11:08Financial Performance - Cash, cash equivalents, and marketable securities totaled $352 million as of December 31, 2023, up from $188.7 million as of December 31, 2022[4]. - Collaboration revenue for Q4 2023 was $41.8 million, with total collaboration revenue for the full year 2023 reaching $129 million, compared to no collaboration revenue in 2022[5]. - R&D expenses increased to $28.3 million for Q4 2023 and $99.9 million for the full year 2023, compared to $15.7 million and $66.6 million for the same periods in 2022, respectively[6]. - General and administrative expenses were $8.7 million for Q4 2023 and $32.3 million for the full year 2023, compared to $9.9 million and $30.6 million for the same periods in 2022[7]. - Net loss for Q4 2023 was $9.5 million, significantly improved from a net loss of $24.6 million in Q4 2022; full year net loss was $6.7 million compared to $94.6 million in 2022[8]. Clinical Development - The company completed dosing for the third cohort of the Phase 1 clinical trial of ENTR-601-44, with data readout expected in the second half of 2024[1]. - Regulatory applications for global Phase 2 clinical development of ENTR-601-44 and ENTR-601-45 are anticipated in Q4 2024[1]. - The company is advancing its collaboration with Vertex Pharmaceuticals, which includes a Phase 1/2 clinical trial of VX-670 for patients with myotonic dystrophy type 1[3]. Strategic Initiatives - The cash runway has been extended through the second quarter of 2026, allowing the company to fund its operating expenses and capital expenditures[4]. - The company appointed new executives to enhance its strategic and operational capabilities, including Nathan Dowden as President and COO, and Kevin Healy as Senior VP of Regulatory Affairs[3].