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Kalytera Therapeutics released their financial results for the second quarter of 2017.
Kalytera Therapeutics (TSXV:KALY; OTCQB:KALTF) released their financial results for the second quarter of 2017.
As quoted in the press release:
Second Quarter 2017 Result Highlights
As of June 30, 2017, the Company had cash and cash equivalents of $1.5 million, compared with $0.7 million as of December 31, 2016.
As of August 21, 2017, Kalytera had 129,235,053 common shares outstanding.
Research and development expenses were $1 million for the quarter ended June 30, 2017 compared with $0.7 million for the quarter ended June 30, 2016.
The increase in research and development expenses from the same period last year was due in part to laboratory and regulatory consulting expenses incurred in preparation for the Company’s planned Phase 2 clinical study to evaluate cannabidiol (“CBD”) in the prevention of GvHD. The Company is reviewing a number of alternatives to further finance this study, including discussions with certain potential sources of debt or equity financing, though there can be no assurance at this time that any such financing will be successfully obtained or available on favourable terms.
Click here to read the full press release.
Source: globenewswire.com
