Intensity Therapeutics, Inc. reported a net loss of $3.5 million for the third quarter ended September 30, 2024, compared to a net loss of $2.3 million for the same period in 2023. Research and development expenses increased to $2.2 million from $1.4 million year-over-year, primarily due to preliminary work on the INVINCIBLE-3 Study. General and administrative expenses also rose to $1.4 million from $1.1 million, driven by higher salary, benefits, and insurance costs.
As of September 30, 2024, the company's cash and cash equivalents totaled $2.8 million. This cash position is expected to fund operations into the first quarter of 2025, indicating a short cash runway. The company continues to rely on external capital to support its ongoing clinical development.
Despite the increased net loss, Intensity Therapeutics provided an update on its clinical programs, noting regulatory authorizations for its Phase 3 INVINCIBLE-3 sarcoma study and its Phase 2 INVINCIBLE-4 breast cancer study. The company is focused on site activation and patient recruitment for these trials.
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