Third Harmonic Bio, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 08:25 am EST
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Third Harmonic Bio, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net loss was USD 7.34 million compared to USD 8.21 million a year ago. Basic loss per share from continuing operations was USD 0.19 compared to USD 0.9 a year ago.
For the nine months, net loss was USD 23.99 million compared to USD 23.67 million a year ago. Basic loss per share from continuing operations was USD 0.61 compared to USD 3.99 a year ago.
Third Harmonic Bio, Inc. is a biopharmaceutical company. The Company is focused on advancing the next wave of medicine for inflammatory diseases through the development of novel, small-molecule inhibitors of KIT, a cell surface receptor that serves as the master regulator of mast cell function and survival. It is developing medicine for the treatment of inflammatory diseases, including dermal, respiratory, and gastrointestinal diseases. Mast cells are a part of the immune system, and dysfunctional mast cell activity has been implicated in the pathophysiology of a broad range of inflammatory disorders including urticaria, asthma and gastrointestinal disorders, among others. The Company is advancing its lead product candidate, THB335, for the treatment of multiple mast cell-driven inflammatory diseases of the skin, airway and gastrointestinal tract. THB335 is a potent, highly selective, oral small molecule KIT inhibitor with a promising preclinical product profile.