Third Harmonic Bio (THRD)

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	296.55 mm	296.55 mm	296.55 mm	296.55 mm	296.55 mm	296.55 mm
Cash burn (monthly)	(no burn)	(no burn)	5.69 mm	4.40 mm	2.72 mm	2.41 mm
Cash used (since last report)	n/a	n/a	30.16 mm	23.33 mm	14.44 mm	12.75 mm
Cash remaining	n/a	n/a	266.39 mm	273.21 mm	282.11 mm	283.79 mm
Runway (months of cash)	n/a	n/a	46.8	62.0	103.6	117.9

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q4 2024

THRD institutional ownership history Ownership history

13F holders	Current	Prev Q	Change
Total holders	100	88	+13.6%
Opened positions	25	16	+56.3%
Closed positions	13	6	+116.7%
Increased positions	37	35	+5.7%
Reduced positions	21	18	+16.7%

13F shares	Current	Prev Q	Change
Total value	427.84 bn	557.61 bn	-23.3%
Total shares	62.15 mm	63.77 mm	-2.5%
Total puts	0.00	0.00
Total calls	100.00	7.10 k	-98.6%
Total put/call ratio	–	–	–

Largest owners	Shares	Value	Change
Atlas Venture Life Science Advisors	10.40 mm	$107.04 bn	-4.6%
Atlas Venture Fund XI	9.81 mm	$129.86 mm	-4.9%
Orbimed Advisors	5.78 mm	$59.47 bn	0.0%
General Atlantic	3.37 mm	$34.70 bn	+14.0%
EcoR1 Capital	3.18 mm	$32.75 bn	0.0%
T. Rowe Price Investment Management	2.93 mm	$30.15 mm	+3.5%
Novartis Institutes for BioMedical Research	2.64 mm	$0.00	0.0%
FMR	2.54 mm	$26.10 bn	+723.6%
TCG Crossover Management	2.51 mm	$25.78 bn	+3.7%
TCG Crossover GP II	2.42 mm	$32.60 mm	0.0%

Largest transactions	Shares	Bought/sold	Change
FMR	2.54 mm	+2.23 mm	+723.6%
Boxer Capital Management	2.00 mm	+2.00 mm	NEW
Boxer Capital	0.00	-2.00 mm	EXIT
Biotechnology Value Fund L P	2.37 mm	-1.99 mm	-45.6%
BVF	2.37 mm	-1.99 mm	-45.6%
Commodore Capital	237.70 k	-1.12 mm	-82.5%
Deerfield Management	1.02 mm	+1.02 mm	NEW
Millennium Management	640.08 k	+558.62 k	+685.7%
Atlas Venture Fund XI	9.81 mm	-505.57 k	-4.9%
Atlas Venture Life Science Advisors	10.40 mm	-505.57 k	-4.6%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

THRD insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
1 Mar 25	Christopher M. Murphy	RSU Common Stock	Grant	Acquire A	No	No	0	30,000	0.00	30,000
15 Jan 25	Dittman Jennifer	RSU Common Stock	Grant	Acquire A	No	No	0	11,500	0.00	11,500
15 Jan 25	Dittman Jennifer	Employee Stock Option Common Stock	Grant	Acquire A	No	No	6	92,000	552.00 k	92,000
15 Jan 25	Christopher M. Murphy	RSU Common Stock	Grant	Acquire A	No	No	0	17,500	0.00	17,500
15 Jan 25	Christopher M. Murphy	Employee Stock Option Common Stock	Grant	Acquire A	No	No	6	140,000	840.00 k	140,000
15 Jan 25	Dennis Dean	RSU Common Stock	Grant	Acquire A	No	No	0	11,500	0.00	11,500
15 Jan 25	Dennis Dean	Employee Stock Option Common Stock	Grant	Acquire A	No	No	6	92,000	552.00 k	92,000
15 Jan 25	Christopher Dinsmore	RSU Common Stock	Grant	Acquire A	No	No	0	14,500	0.00	14,500
15 Jan 25	Christopher Dinsmore	Employee Stock Option Common Stock	Grant	Acquire A	No	No	6	116,000	696.00 k	116,000

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

News

From Benzinga Pro

Third Harmonic Bio Initiates Strategic Review, Lays Off 50% Staff Citing Competitive Landscape

12 Feb 25

Third Harmonic Bio plans a Phase 2 trial for THB335 in chronic spontaneous urticaria and will reduce its workforce by 50% while reviewing strategic options.

Morgan Stanley Downgrades Third Harmonic Bio to Equal-Weight, Lowers Price Target to $5

12 Feb 25

Morgan Stanley analyst Michael Ulz downgrades Third Harmonic Bio (NASDAQ:THRD) from Overweight to Equal-Weight and lowers the price target from $20 to $5.

12 Health Care Stocks Moving In Tuesday's Pre-Market Session

11 Feb 25

Raymond James Downgrades Third Harmonic Bio to Market Perform

11 Feb 25

Third Harmonic Bio Says Data From Its Phase 1 Trial Of THB335 In Healthy Volunteers Supports The Advancement Into A Phase 2 Trial In Chronic Spontaneous Urticaria; The Company Is Initiating A Strategic Review Process To Run In Parallel With Phase 2 Readiness Activities To Identify Opportunities To Maximize Shareholder Value

11 Feb 25