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Molecular Templates (Nasdaq: MTEM) reported its first-quarter 2024 financial results. The company presented promising clinical data for MT-6402 at the AACR Annual Meeting, showing a tolerable safety profile and efficacy in relapsed/refractory HNSCC patients. Financially, MTEM had a net income of $0.6M, or $0.11 per basic share, a significant drop from $10.8M in the same period last year. Revenue declined to $11.1M from $36.6M. R&D expenses decreased to $7.4M from $19.0M, and G&A expenses fell to $3.7M from $5.8M. Cash and cash equivalents were $6.8M as of March 31, 2024. The company completed a $9.5M financing in April and expects to sustain operations into Q4 2024.