Third Harmonic Bio, Inc. (NASDAQ: THRD) shares fell Thursday, as the a clinical-stage biopharmaceutical company focused on advancing the next wave of medicine for dermal, respiratory and gastrointestinal inflammatory diseases, today announced financial results for the second quarter June 30, 2024, along with business updates.
“We are making excellent progress in our Phase 1 SAD/MAD clinical trial of THB335 and now expect to report clinical results during the first quarter of 2025,” said CEO Natalie Holles. “In parallel with conduct of this ongoing clinical trial, we are already preparing to move THB335 rapidly into a Phase 2 clinical trial in chronic spontaneous urticaria with subsequent expansion into additional mast cell-mediated diseases.”
Net loss for the three months ended June 30, 2024, increased to $10.7 million from a net loss of $7.6 million for the same period in 2023. Net loss for the six months ended June 30, 2024, increased to $18.6 million from a net loss of $16.6 million for the same period in 2023, primarily due to increases in research and development expenses that were partially offset by increases in interest income.
Third Harmonic Bio is a clinical-stage biopharmaceutical company focused on advancing the next wave of medicine for dermal, respiratory, and gastrointestinal inflammatory diseases.
THRD shares gave up 14 cents, or 1.3%, to $10.82.
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