Inhibikase Q2 net loss widens on higher R&D, SG&A costs
IKT•R&D and SG&A costs rise
The company attributed the increase in research and development expenses to advancement of its global Phase 3 IMPROVE-PAH clinical trial for IKT-001.
Selling, general and administrative expenses also rose year over year, reflecting higher operating costs.
Funding, regulatory progress and outlook
Inhibikase said it raised $50 million in July through a share sale to RA Capital to help fund the Phase 3 trial.
The company said IKT-001 was granted FDA Orphan Drug Designation, which could provide development incentives and market exclusivity upon approval.
It expects cash reserves to support operations through the topline data readout in the Phase 3 study and said it continues regulatory submissions for the IMPROVE-PAH trial in additional countries.
Quarterly loss widens on higher spending
Inhibikase said its second-quarter net loss widened year over year on higher research and development and selling, general and administrative costs.
The company reported a second-quarter loss per share of $0.11 and a net loss of $19.60 million.
