Frequency Therapeutics reports Q4 EPS (49c), consensus (63c)

As of December 31, 2022, Frequency had cash, cash equivalents and marketable securities of $83.1M, or $68.9M net of debt. "The Frequency team continues to make important progress with our novel therapeutic program designed to induce remyelination for individuals living with multiple sclerosis and remains on track to initiate clinical development for a potentially first-in-class therapy for this debilitating disease in the first half of 2024. Our current cash position takes us into Q1 2025, which enables us to advance development of this program through an initial clinical study," said David L. Lucchino, Frequency’s CEO. "We believe our remyelination program has the potential to produce a restorative effect by stimulating oligodendrocyte precursor cells to myelinate axons, and we are excited that our compounds have shown in in vivo models significantly greater remyelinating effect than prior published approaches."