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Bio-Path Holdings (NASDAQ: BPTH) announced its Q1 2024 financial results, marking progress in clinical and corporate milestones. The company strengthened its balance sheet with $3.5 million through share offerings and expanded its global patent portfolio. Key achievements include completing the second dose cohort in its Phase 1/1b trial for BP1002 in AML patients and the first dose cohort for BP1002 in lymphoma and CLL patients.
Financially, Bio-Path reported a net loss of $3.2 million, an improvement from the $5.3 million loss in Q1 2023. R&D expenses decreased to $2.3 million, while G&A expenses slightly increased to $1.4 million. The company had $0.2 million in cash as of March 31, 2024.
Bio-Path Holdings, Inc. will announce its first quarter 2024 financial results on May 15, 2024. The company specializes in developing cancer drugs using its proprietary DNAbilize® antisense RNAi nanoparticle technology. Bio-Path's lead product candidate, prexigebersen, is in Phase 2 study for blood cancers, and BP1001-A is in Phase 1/1b study for solid tumors. The company is also evaluating BP1002 for blood cancers and solid tumors, with an IND expected to be filed for BP1003. Bio-Path will host a live conference call to discuss the financial results and provide a business overview.