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New words:
adipose, aFour, agonist, AI, Anticancer, attack, bad, basal, batch, begun, Bicara, biometric, blend, Bridge, caregiver, ccRCC, CDR, clearance, Comptroller, Connecticut, contact, controversy, Council, CPRA, Crawford, cutoff, cybersecurity, David, debated, default, degeneration, destined, DIO, division, ecosystem, Eleven, energy, exacerbate, FDIC, float, fourth, fulfill, glucose, gMDSC, granulocytic, Hallal, harder, harnessing, hour, IDTA, incretin, intelligence, invitro, ITT, ix, judgement, lean, liraglutide, magnetic, misuse, mixed, Morgan, necessitate, Nevada, nuclear, ONYX, Overview, pack, Parliament, peer, penetration, Piper, plot, preapproval, pretreated, principle, PRs, qualitative, quantitative, questionnaire, RA, RAs, real, rebound, receivership, resonance, Rest, Sandler, semaglutide, Silvergate, societal, Spring, SRK, staffing, successor, supranational, swept, tabletop, tailored, talk, thousand, threshold, tighter, titled, traditionally, transitory, troubled, twitch, uninsured, uptake, variation, vCISO, vi, Vice, vii, viii, volunteer, VP, wage, Washington, Windsor, xi, xii, xiii, xiv, XV, XVIL, XVL
Removed:
accommodate, altogether, assignee, attorney, attributed, bearing, capability, CMCC, commented, commerce, complement, compromise, concept, customized, defer, deployment, divergence, drawdown, effector, embedding, epidemic, expectancy, filer, frequent, impacting, infected, innate, internalized, intervening, intratumoral, intravenously, irrevocably, jointly, killer, line, MAD, mandated, mechanical, mechanistic, mg, mild, mildest, missing, moderate, MTD, nominate, notable, Ocata, oral, overallotment, overseeing, permission, potently, preclinically, prerequisite, presymptomatic, prioritizing, profound, proportionally, quarantine, ratio, registrational, regression, rendering, resumed, ripple, rolling, shipping, sit, skipping, Specifica, spread, standardized, suggesting, supportive, symptom, synergistic, syngeneic, threatening, timepoint, transport, Twenty, unaided, unaudited, undergoing, undertaken, vaccination, ventilation, vialing, walk, warrant, worker
Financial report summary
?Competition
Pfizer • XOMA • Regeneron Pharmaceuticals • Biogen • Roche • Cytokinetics • Novartis • Sanofi • Catalyst Pharmaceuticals • AbbvieManagement Discussion
- Revenue was $0 and $33.2 million for the years ended December 31, 2023 and 2022, respectively. The revenue for the year ended December 31, 2022 was related to the Gilead Collaboration Agreement executed in December 2018. Upon Gilead’s termination of its option exercise period for all programs, revenue of $33.2 million attributable to the material rights was recognized in January 2022. All revenue related to the Gilead Collaboration Agreement had been fully recognized by January 31, 2022.
- Total research and development expenses are expected to continue to be substantial, driven by employee compensation costs and development costs associated with our clinical stage programs as we continue to advance our product candidates, including apitegromab through our Phase 3 SAPPHIRE clinical trial in SMA and ONYX, our long-term extension study for patients from both the TOPAZ and SAPPHIRE studies and costs associated with supporting our cardiometabolic program, including our planned Phase 2 study of apitegromab and our preclinical program, SRK-439. Additionally, we will continue to invest in our pipeline. We expect costs of our SRK-181 program to decrease, as we completed enrollment of the Phase 1 DRAGON clinical trial in December 2023.
- General and administrative expense was $49.4 million for the year ended December 31, 2023 compared to $43.1 million for the year ended December 31, 2022, an increase of $6.3 million or 14.6%. The increase was associated with employee compensation and benefits costs including salaries, bonus, benefits and non-cash equity-based compensation expense related to increased headcount, in addition to an increase in professional services costs. We expect general and administrative expense to increase as we continue to invest in commercial readiness activities.