Molecular Templates, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 10, 2022 at 04:52 pm EST
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Molecular Templates, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported revenue was USD 4.24 million compared to USD 2.38 million a year ago. Net loss was USD 24.64 million compared to USD 30.39 million a year ago. Basic loss per share from continuing operations was USD 0.44 compared to USD 0.54 a year ago. Diluted loss per share from continuing operations was USD 0.44 compared to USD 0.54 a year ago.
For the nine months, revenue was USD 17.14 million compared to USD 20.73 million a year ago. Net loss was USD 70.67 million compared to USD 72.77 million a year ago. Basic loss per share from continuing operations was USD 1.25 compared to USD 1.32 a year ago. Diluted loss per share from continuing operations was USD 1.25 compared to USD 1.32 a year ago.
Molecular Templates, Inc. is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted biologic therapeutics. The Companyâs proprietary drug platform technology, known as engineered toxin bodies (ETBs), leverages the resident biology of a genetically engineered form of Shiga-like Toxin A subunit to create novel therapies with potent and differentiated mechanisms of action for cancer. Its product pipeline includes MT-6402, MT-8421 and MT-0169. MT-6402 is an ETB consisting of a single chain variable fragments (scFv), with affinity for PD-L1, fused to the enzymatically active de-immunized SLTA and a HLA-A*02 class I antigen derived from the human cytomegalovirus (HCMV) pp65 protein. MT-8421, its ETB targeting CTLA-4, along with MT-6402. MT-0169 is designed to destroy CD38+ tumour cells through internalization of CD38 and cell destruction via a novel mechanism of action (enzymatic ribosomal destruction and immunogenic cell death).
MOLECULAR TEMPLATES, INC. 
