Content analysis
?Positive | ||
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Constraining | ||
Legalese | ||
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H.S. junior Avg
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New words:
agent, ALT, Amgen, aminotransaminase, amplified, asthenia, committee, comprising, daily, DC, DCR, DL, East, enzyme, ERK, evidenced, exon, exploration, explore, exploring, extracellular, fatigue, fourth, involuntary, low, Middle, morale, nausea, nil, October, paired, pause, pausing, pERK, pharmacodynamic, phosphate, phosphorylated, QD, refunded, reprioritization, RNA, Sanofi, serum, spanning, subgroup, tissue, TRAE, underway, vomiting
Removed:
capable, concept, detail, proof, resistant, underrepresented
Financial report summary
?Competition
Incyte • Novartis • Deciphera Pharmaceuticals • Black Diamond Therapeutics • Theseus Pharmaceuticals • Erasca • SpringWorks Therapeutics • Relay Therapeutics • Ikena Oncology • Tyra BiosciencesManagement Discussion
- Research and development expenses were $24.5 million for the three months ended September 30, 2023 compared to $23.5 million for the three months ended September 30, 2022, an increase of $1.0 million. The increase was primarily attributable to an increase of $2.6 million in external expenses for our RAF program given the increased activity and costs incurred in this program, including increased patient enrollment and site activation. This increase was partially offset by a decrease of $0.6 million in external expenses for our other programs reflecting decreased spend in pipeline research, as well as a decrease of $1.0 million in internal research and development expenses primarily as a result of a decrease in compensation costs for research and development personnel in connection with the reversal of accrued bonuses for separated employees during the three months ended September 30, 2023. For the nine months ended September 30, 2023, research and development expenses were $77.4 million compared to $63.0 million for the same period in 2022, an increase of $14.4 million. The increase was primarily driven by an increase of $9.9 million in external expenses for our RAF and FGFR programs given the increased activity and costs incurred in these programs, including increased patient enrollment and site activation, as well as an increase of $0.9 million in external expenses for our other programs reflecting increased spend in pipeline research. In addition, internal research and development expenses increased $3.7 million as a result of an increase in research and development personnel and higher stock-based compensation during the nine months ended September 30, 2023. We expect research and development expenses to decrease for the remainder of 2023 due to lower external costs in connection with the reprioritization of our programs as part of the Strategic Plan, completion of our exarafenib monotherapy clinical trial, exploration of strategic alternatives for our exarafenib monotherapy and FGFR programs, and a reduction in headcount.