AVROBIO Q1 net loss $25.0M, cash $72.3M; appoints interim CEO; GD3 trial on track

Tectonic Therapeutic, Inc.

2023-Q1 EPS reported -$0.57

Net loss of $25.0M for Q1 2023 vs $29.8M in Q1 2022; R&D expenses $17.3M, G&A $7.9M.
Cash and equivalents $72.3M as of March 31, 2023; expected runway into Q1 2024.
Plan to initiate registrational Phase 2/3 trial for Gaucher disease type 3 in H2 2023, subject to regulatory alignment.
Appointed CFO Erik Ostrowski as interim CEO, succeeding Geoff MacKay; board searching for permanent CEO.
Collaborator-sponsored Phase 1/2 trial for Hunter syndrome (MPS-II) initiated.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Tectonic Therapeutic, Inc. reported the first quarter ended March 31, 2023 results: net income ($25.0 million).

Period: the first quarter ended March 31, 2023
Net income: ($25.0 million)
Result: reported results

Exact text from the filing

AVROBIO reported a net loss of $25.0 million for the first quarter of 2023 as compared to a net loss of $29.8 million for the comparable period in 2022.

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Source: SEC EDGAR

accession 0001140361-23-024002

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