Lisata Therapeutics Inc (NASDAQ:LSTA) CEO David Mazza told investors that he expects 2025 to be a “data-rich year” in a statement accompanying its full-year 2024 financial results.
The pharmaceutical company highlighted progress in its clinical pipeline, including encouraging preliminary data from a Phase 2b pancreatic cancer trial.
Lisata completed enrollment in Qilu’s Phase 2 trial evaluating its lead candidate, certepetide, for the treatment of metastatic pancreatic ductal adenocarcinoma (mPDAC), with additional data expected in the coming months.
“Following the encouraging preliminary results from the ASCEND and iLSTA trials reported at this year’s ASCO-GI Symposium, we remain committed to exploring the broad application of certepetide’s unique mechanism of action,” Mazza said in the statement.
“Our development portfolio encompasses multiple clinical and preclinical trials evaluating certepetide for the treatment of various solid tumors, including pancreatic cancer, cholangiocarcinoma, glioblastoma, colon cancer, appendiceal cancer, and melanoma.”
Lisata is also exploring certepetide’s ability to treat non-cancerous conditions such as endometriosis.
For the year ended December 31, 2024, Lisata reported $1 million in revenue for 2024, stemming from an upfront license fee related to a collaboration agreement with Kuva Labs. The company had no revenue in 2023.
Operating expenses declined to $23.4 million from $25.7 million in 2023, primarily due to reduced costs related to the ASCEND trial and lower general and administrative expenses. R&D expenses fell 11% to $11.3 million, while general and administrative costs declined 6.9% to $12.1 million.
Lisata reported a net loss of $20 million for 2024, slightly lower than its $20.8 million loss in 2023.
The company ended the year with $31.2 million in cash, cash equivalents, and marketable securities, expecting its current funds to sustain operations into Q2 2026.
Lisata also secured $0.9 million in non-dilutive funding through New Jersey’s Technology Business Tax Certificate Transfer Program, bringing its total proceeds from the program to $18.4 million.