Zura Bio Q3 net loss $22.9M; cash $188.2M; Phase 2 trials on track for SSc and HS

Zura Bio Ltd

2024-Q3 EPS reported -$0.52

Net loss of $22.9M ($0.26 per share) vs $8.3M ($0.18) in Q3 2023; G&A up $7.1M on one-time stock comp and warrant exchange.
Cash, cash equivalents and investments $188.2M as of Sep 30, 2024, up from $99.8M at Dec 31, 2023; expected to fund operations through 2027.
Phase 2 trial of tibulizumab for systemic sclerosis expected to initiate Q4 2024; Orphan Drug Designation request submitted to FDA.
Phase 2 trial of tibulizumab for hidradenitis suppurativa anticipated to start Q2 2025; IND submission expected Q1 2025.
Completed warrant exchange in August 2024 and established ATM program for financial flexibility.

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