Leap Therapeutics reports Q1 EPS (51c), consensus (58c)

Cash and cash equivalents totaled $54.9M at March 31, 2024, exclusive of the $37.2M net proceeds of the private placement completed in April 2024. Research and development incentive receivables, current portion, totaled $0.7M. “We appreciate the strong support of Gilead and the new and existing institutional investors who participated in our recent $40M financing that will enable the expansion and continued execution of the DKN-01 development program,” said CEO Douglas Onsi. “The financing provides cash runway into Q2 2026, allowing the expansion of Part B of the DeFianCe CRC study to 180 patients, the full maturation of data in Part C of the DisTinGuish GEJ/gastric cancer study, and the manufacturing of Phase 3 clinical trial material. We are well positioned for continued success and look forward to achieving major clinical milestones in the year ahead.”