PDS Biotechnology Q3 net loss narrows on lower R&D costs
PDSB•PDS Biotechnology’s third-quarter net loss narrowed year over year as research and development costs declined. Loss per share was $0.11, and the company completed the initial closing of a PIPE financing of up to $22.3 million led by Nant Capital.
1. Quarterly results
PDS Biotechnology’s third-quarter net loss narrowed year over year, mainly because research and development expenses fell with lower clinical trial, personnel and manufacturing costs. Loss per share was $0.11.
2. Development plans
The company is prioritizing PDS0301 for upcoming clinical trials and intends to pursue strategic partnerships for Phase 3 development of PDS0101. It expects a milestone PIPE financing closing upon submission of the Phase 3 protocol for PDS0301 to the FDA.
