eFfector Therapeutics reports Q1 EPS ($2.16), consensus ($2.16)

The company had cash, cash equivalents, and short-term investments totaling $25.4M as of March 31 compared to $18.4M as of December 31. The company anticipates that its current cash, cash equivalents, and short-term investments will be sufficient to fund operations into the first quarter of 2025.”We had a productive first quarter marked by continued progress in the zotatifin program, including successful completion of the ZF doublet dose escalation, and ongoing assessment of increasing doses in the ZFA triplet,” said Steve Worland, Ph.D., president and chief executive officer of eFFECTOR. “We are highly encouraged with the safety profile and activity already reported for the ZFA triplet, in particular the 7.4 month mPFS in heavily pre-treated patients, and look forward to finalizing the dose and schedule in the second half of 2024. We believe the zotatifin program is well positioned to move into a randomized trial later this year.” Dr. Worland continued: “While we were disappointed in the results from the KICKSTART trial, our commitment to maximizing the value of all assets in our pipeline remains unchanged. Our focus is now further sharpened towards advancing zotatifin through development as efficiently as possible. As part of our strategy to leverage external interest in our clinical programs to conserve capital, we will continue investigator-sponsored trials of zotatifin in ER+ breast cancer in a pre-operative setting and tomivosertib in acute myeloid leukemia . Additionally, with the completion of the registered direct financing in January 2024, extending our cash runway into the first quarter of 2025, we can continue progressing with these planned zotatifin development activities and the initiated ISTs.”