Rakovina Therapeutics Inc (TSX-V:RKV) has handed down its financial results for the quarter and year ended December 31, 2023.
The biopharmaceutical company, which is focused on the development of new cancer treatments based on novel DNA-damage response technologies, exited the year with a working capital of $477,881.
Subsequent to the year-end, Rakovina in March 2024 announced it had been granted exclusive access to the proprietary Deep Docking AI platform for DNA-damage response targets.
The company will leverage the platform to quickly analyze billions of molecular structures to evaluate their potential as targeted cancer drugs.
“This approach is innovative to developing new drug therapies that target DNA-damage response-related vulnerabilities that are common in many types of cancer,” the company said in a statement.
Its net loss for the fourth quarter was $722,733 or $0.01 per share, with research and development operating costs amounting to $419,482.
For the full year, its net loss was $2.61 million or $0.04 per share, with the company incurring $1.67 million in research costs.