Fusion Pharmaceuticals reports Q4 EPS (39c), consensus (34c)

Fusion expects its existing cash, cash equivalents and investments as of December 31, 2023 of $247.3M, together with net proceeds from sales of common shares and net proceeds of $14.9M from the company’s existing debt facility, will be sufficient to fund operations into 4A25. Reports Q4 revenue $0, consensus $410K. CEO John Valliant commented, “We entered 2024 with strong momentum focused on execution to advance our pipeline of targeted alpha therapies, and we are pleased to recently have achieved several critical milestones. For our lead program, FPI-2265, we expect to initiate the Phase 2 portion of the registrational program in metastatic castration-resistant prostate cancer in Q2 of this year. Acknowledging the substantial and expanding market for patients in the post-PLUVICTO setting we believe FPI-2265, which is positioned to be the first actinium-based PSMA targeted radiopharmaceutical to market, will effectively address a crucial unmet need for patients with progressive disease. We look forward to presenting data from the TATCIST trial at AACR in April. We also continue to advance our other clinical-stage programs, including the ongoing Phase 1 study of FPI-1434, which has demonstrated a promising safety profile and early evidence of antitumor activity. We expect to provide an update on this program around mid-year 2024…With a strong balance sheet and secured actinium supply, we are well positioned to execute on our commitment of bringing this next generation of radiopharmaceuticals to patients in need.”