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Molecular Templates Reports Fourth Quarter 2017 Financial Results
Mar. 29, 2018 09:01AM PST
Genetics 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 fourth quarter of 2017. As of December 31, 2017, cash and cash equivalents totaled $58.9 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 fourth quarter of 2017. As of December 31, 2017, cash and cash equivalents totaled $58.9 million. Molecular’s current cash balance is expected to fund operations into late 2019.
As quoted in the press release:
“We are excited by the continued progress of our pipeline as well as our partnership with Takeda,” said Eric Poma, Ph.D., CEO and CSO of Molecular Templates. “We expect the remainder of 2018 to bring more data on our lead program MT-3724 in DLBCL, additional IND filings for other pipeline programs, and the potential for more business development transactions that would support additional programs with non-dilutive capital.”