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Context Therapeutics Inc. reported on the FDA clearance of their IND application for a Phase 1 clinical trial of CTIM-76 and completed a $100 million financing round. They anticipate funding to last until 2028. The company showcased financial results for Q1 2024, emphasizing a decrease in R&D expenses and a net loss of $3.7 million for the quarter.
Context Therapeutics received FDA clearance for its IND application for a Phase 1 clinical trial of CTIM-76, a CLDN6 x CD3 T cell engaging bispecific antibody, focusing on gynecologic and testicular cancers. The Company aims to enroll the first patient by mid-2024.
Context Therapeutics Inc. announced a $100 million private placement with healthcare investors to advance medicines for solid tumors. The financing will extend the cash runway into 2028. The private placement is expected to close on May 6, 2024, and includes the sale of approximately 64.5 million shares of common stock at $1.55 per share.