| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
2023 Year End Financial Results
Research and development (R&D) expenses increased by $3.1 million to $11.5 million for the year ended December 31, 2023, from $8.4 million for the year ended December 31, 2022. The increase in research and development expenses was primarily attributable to increases in external R&D services and external expenses related to the commencement and conduct of our Phase 1 clinical trial with our lead drug candidate GT-02287 for the treatment of GBA1 Parkinson's disease.
General and administrative (G&A) expenses increased by $1.3 million to $10.8 million for the year ended December 31, 2023, from $9.5 million for the year ended December 31, 2022. The increase in general and administrative expenses was primarily attributable to increases in professional fees for corporate compliance consulting and non-cash costs related to share-based compensation.
Net loss for the year ended December 31, 2023 was $22.3 million, compared to a net loss of $17.6 million for the year ended December 31, 2022. Net loss as of December 31, 2023 included non-cash compensation expenses of $3.3 million as compared to 2022 non-cash compensation expenses of $1.5 million. The increase in net loss for 2023 compared to 2022 was primarily attributable to increases in R&D expenses of $3.1 million and G&A expenses of $1.3 million.
GAAP basic and diluted net loss per share for the year ended December 31, 2023 was $1.71, as compared to basic and diluted net loss per share of $1.48 as of December 31, 2022.
Cash, cash equivalent and marketable securities were $16.8 million as of December 31, 2023. We anticipate that our existing cash, cash equivalent and marketable securities will be sufficient to support operations into Q1 2025.
Posted In: GANX
