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Molecular Templates Reports First Quarter 2018 Financial Results
May. 15, 2018 09:32AM PST
Biotech InvestingMolecular Templates (Nasdaq:MTEM) a clinical-stage oncology company focused on the discovery and development of the company’s proprietary engineered toxin bodies (ETBs), which are differentiated, targeted, biologic therapeutics for cancer, today reported financial results for the first quarter of 2018. As of March 31, 2018, cash and cash equivalents totaled $49.3 million. Molecular’s current cash balance is expected …
Molecular Templates (Nasdaq:MTEM) a clinical-stage oncology company focused on the discovery and development of the company’s proprietary engineered toxin bodies (ETBs), which are differentiated, targeted, biologic therapeutics for cancer, today reported financial results for the first quarter of 2018. As of March 31, 2018, cash and cash equivalents totaled $49.3 million. Molecular’s current cash balance is expected to fund operations into late 2019.
As quoted in the press release:
“We are very pleased with the clinical results we have generated to date for MT-3724, which we expect to enter Phase II studies in relapsed/refractory DLBCL patients in the second half of 2018,” said Eric Poma, Ph.D., CEO and CSO of Molecular Templates. “In the next twelve months, we expect our clinical pipeline to expand significantly as we file INDs for MT-4019 as well as our ETBs targeting HER2 and PD-L1.”