NASDAQ$THRD
Third Harmonic Bio Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Announced first quarter 2024 financial results and provided business update.
Third Harmonic Bio reported a net loss of $7.9 million for the first quarter of 2024, with cash and cash equivalents totaling $262.8 million as of March 31, 2024. The company believes its cash will be sufficient to fund operations through at least 2026. They also announced U.S. FDA clearance of its Investigational New Drug application for THB335.
- U.S. FDA cleared Investigational New Drug application for THB335.
- Phase 1 SAD/MAD clinical trial initiated, with results expected during 1H’25.
- Christopher J. Dinsmore, Ph.D., appointed to Chief Scientific Officer.
- Cash and cash equivalents totaled $262.8 million as of March 31, 2024.
Headline financials
Revenue & EPS history
Third Harmonic · Revenue · Quarterly
$0
Forward guidance
Third Harmonic Bio expects that its existing cash and cash equivalents will be sufficient to fund its operating expenses and capital expenditure requirements through at least 2026.
Tailwinds
- Existing cash and cash equivalents will be sufficient to fund operating expenses and capital expenditure requirements through at least 2026.
- Advancing the development of a potentially best-in-class oral KIT inhibitor.
- Continuing development efforts with urgency given the significant unmet need in CSU.
- Phase 1 SAD/MAD clinical trial initiated and subject screening underway.
- Planned rapid expansion into additional mast cell-mediated disorders.
Headwinds
- Numerous risks and uncertainties related to cash forecasts.
- Risks related to the ability to advance product candidates.
- Uncertainties related to the receipt and timing of potential regulatory submissions.
- Risks related to protecting intellectual property.
- The timing and results of preclinical and clinical trials.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 5 quarterly earnings reports · overlaid with Q1 2024
+1.0%
Avg return
Earnings day
+14.2%
Avg return
5 days after
+13.0%
Avg return
30 days after
40%
6 / 15 earnings
Positive
+13.0%
Q3 2024
Best reaction
-11.1%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2025 | — | — | — | |
| Q1 2025 | +0.6% | -0.2% | +5.8% | |
| Q4 2024 | -1.1% | +42.1% | +41.9% | |
| Q3 2024 | +13.0% | +13.0% | -11.2% | |
| Q2 2024 | +10.6% | +11.5% | +9.2% | |
| Q1 2024 | +10.2% | +11.8% | +3.3% | |
| Q4 2023 | +8.0% | +7.1% | +29.2% | |
| Q3 2023 | +0.8% | — | — | |
| Q2 2023 | -6.4% | — | — | |
| Q1 2023 | -11.1% | — | — | |
| Q4 2022 | -3.5% | — | — | |
| Q3 2021 | -1.2% | — | — | |
| Q4 2021 | -1.2% | — | — | |
| Q3 2022 | -1.2% | — | — | |
| Q1 2022 | -1.2% | — | — | |
| Q2 2022 | -1.2% | — | — | |
| Q2 2021 | — | — | — | |
| Q1 2021 | — | — | — |
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