Leap Therapeutics ( (LPTX) ) has released its Q3 earnings. Here is a breakdown of the information Leap Therapeutics presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Leap Therapeutics is a biotechnology company that focuses on developing targeted and immuno-oncology therapeutics, with a pipeline featuring advanced clinical candidates like DKN-01, a monoclonal antibody, designed to target specific cancer proteins.
In its third-quarter 2024 earnings report, Leap Therapeutics highlighted significant progress in its clinical trials and development pipeline, while reporting a financial performance marked by increased research and development expenses leading to a net loss.
Key developments included the completion of patient enrollment in the Phase 2 DeFianCe study for colorectal cancer treatment and ongoing patient follow-up in the DisTinGuish study for gastroesophageal junction and gastric cancer, with data expected in the coming months. Moreover, Leap initiated the development of FL-501, an antibody with potential applications in cancer treatment. Financially, Leap reported a net loss of $18.2 million, primarily due to increased research and development costs, while maintaining a cash position of $62.8 million.
Looking ahead, Leap Therapeutics remains optimistic about its pipeline’s advancement and its ability to deliver personalized cancer therapies, buoyed by a robust cash position expected to support operations into the second quarter of 2026.
