Alpine Immune Sciences Reports First Quarter 2024 Financial Results
On
First Quarter 2024 Financial Results
Cash Position and Runway: As of
Collaboration Revenue: For the three months ended
Research and Development Expense: For the three months ended
General and Administrative Expense: For the three months ended
Net Loss: Net loss for the three months ended
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Selected Condensed Consolidated Balance Sheet Data |
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(In thousands) |
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(unaudited) |
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Cash and cash equivalents |
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$ |
33,015 |
|
$ |
43,921 |
||
Short-term investments |
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|
272,646 |
|
|
|
283,491 |
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Total current assets |
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308,251 |
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|
|
330,034 |
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Long-term investments |
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|
56,453 |
|
|
|
40,556 |
|
Total assets |
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|
373,646 |
|
|
|
379,852 |
|
Total current liabilities |
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|
32,238 |
|
|
|
41,980 |
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Total stockholders’ equity |
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|
332,703 |
|
|
|
327,941 |
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Total liabilities and stockholders’ equity |
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373,646 |
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|
|
379,852 |
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Condensed Consolidated Statement of Operations and Comprehensive Income (Loss) Data |
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(In thousands, except share and per share amounts) |
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Three Months Ended |
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2024 |
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2023 |
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(unaudited) |
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Collaboration revenue |
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$ |
7,032 |
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$ |
9,387 |
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Operating expenses: |
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Research and development |
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22,457 |
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|
|
19,581 |
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General and administrative |
|
|
7,271 |
|
|
|
5,398 |
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Total operating expenses |
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|
29,728 |
|
|
|
24,979 |
|
Loss from operations |
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|
(22,696 |
) |
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(15,592 |
) |
Other income (expense): |
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Interest income |
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4,781 |
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|
|
2,418 |
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Interest expense |
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— |
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|
|
(70 |
) |
Other, net |
|
|
(3 |
) |
|
|
(22 |
) |
Net loss |
|
$ |
(17,918 |
) |
|
$ |
(13,266 |
) |
Comprehensive income (loss): |
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|
|
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Unrealized (loss) gain on investments |
|
|
(551 |
) |
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|
745 |
|
Unrealized loss on foreign currency translation |
|
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(109 |
) |
|
|
(31 |
) |
Comprehensive loss |
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$ |
(18,578 |
) |
|
$ |
(12,552 |
) |
Weighted-average shares used to compute basic and diluted net loss per share |
|
|
64,033,018 |
|
|
|
47,568,149 |
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Basic and diluted net loss per share |
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$ |
(0.28 |
) |
|
$ |
(0.28 |
) |
About
Special Note Regarding Forward-Looking Statements
This press release contains forward-looking statements related to
Forward-looking statements are subject to certain risks, uncertainties, or other factors that are difficult to predict and could cause actual events or results to differ materially from those indicated in any such statements due to a number of risks and uncertainties. Those risks and uncertainties that could cause the actual results to differ from expectations contemplated by forward-looking statements include, among other things: uncertainties as to the timing of the Transaction; uncertainties as to how many of Alpine’s stockholders will tender their stock in the offer; the possibility that various closing conditions for the Transaction may not be satisfied or waived, including that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the Transaction; the effects of the Transaction on relationships with employees, other business partners or governmental entities; the difficulty of predicting the timing or outcome of FDA approvals or actions, if any; the impact of competitive products and pricing; that
Additional Information and Where to Find It
In connection with the proposed acquisition of Alpine,
View source version on businesswire.com: https://www.businesswire.com/news/home/20240509297301/en/
Investor and Media Contact:
ir@alpineimmunesciences.com
media@alpineimmunesciences.com
Source: