Chemomab Therapeutics Ltd. ( (CMMB) ) has released its Q4 earnings. Here is a breakdown of the information Chemomab Therapeutics Ltd. presented to its investors.
Chemomab Therapeutics Ltd. is a clinical-stage biotechnology company focused on developing innovative treatments for fibro-inflammatory diseases, with a particular emphasis on primary sclerosing cholangitis (PSC). The company recently announced its year-end and fourth-quarter 2024 financial results, highlighting significant progress in its clinical trials and regulatory discussions.
Chemomab reported a successful FDA End-of-Phase 2 meeting following positive results from its Phase 2 SPRING trial for nebokitug, a potential treatment for PSC. The FDA has aligned with Chemomab on a clear pathway to regulatory approval, which could make nebokitug the first FDA-approved treatment for PSC. The company is on track to release clinical data from the SPRING trial’s open-label extension in early 2025 and is actively engaging with potential strategic partners.
Financially, Chemomab ended 2024 with a cash position of $14.3 million, down from $19.9 million in 2023, but with a cash runway expected to last through the first quarter of 2026. The company reported a net loss of $13.9 million for the year, a decrease from the $24.2 million loss in 2023, attributed to reduced research and development expenses as the Phase 2 trial neared completion.
The company’s strategic focus remains on advancing nebokitug through its Phase 3 trial, leveraging strong relationships with global PSC centers. Chemomab’s management is optimistic about nebokitug’s potential to address the unmet needs of PSC patients and is preparing for the next stages of its clinical development program.