ABIO
ARCA biopharma Inc
ARCA biopharma Inc
$ABIO reports Q1 2023 financial results with stable cash position and strategic review process in progress
ARCA biopharma has reported its Q1 2023 financial results and corporate update, revealing cash and cash equivalents of $40.9m, enough to support operations until mid-2024. The R&D expenses decreased by $1.8m YoY, while G&A expenses rose by $0.3m due to increased consulting expenses and one-time termination benefits. The company recorded a net loss of $1.3m this quarter, compared to $3.3m YoY. ARCA is currently reviewing its assets, collaborations, and further strategic options to maximize stockholder value, but no specific timeline or action has been defined yet.
5mo ago
$ABIO