Intensity Therapeutics Q3 net loss widens on higher R&D costs
INTS•Intensity Therapeutics’ Q3 net loss widened year over year as R&D expenses increased; Q3 loss per share was $1.09. The company raised $1.5 million in net proceeds through its ATM facility and had $8.5 million in cash and cash equivalents at quarter-end.
1. Higher research costs
Intensity Therapeutics’ net loss widened year over year in Q3 as R&D expenses increased. The company attributed the higher costs to resumed patient enrollment in the INVINCIBLE-3 Study, a new INT230-6 manufacturing batch, bonus accrual and higher stock-based compensation. Q3 loss per share was $1.09.
2. Cash and trial outlook
The company raised $1.5 million in net proceeds during Q3 under its ATM facility and ended the quarter with $8.5 million in cash and cash equivalents. It expects increased site activation and patient enrollment in INVINCIBLE-3 as funding allows, targets completing enrollment in INVINCIBLE-4 by the end of 2027, and expects a safety data review for INVINCIBLE-4 in Q1 2027.
