Context Therapeutics Inc said it closed 2021 with a balance sheet of nearly $50 million.
As of December 31, 2021, the women's oncology company developing small molecule and immunotherapy treatments for breast and gynecological cancers said its cash, cash equivalents, and restricted cash were $49.7 million -- compared to $0.3 million at the end of 2020.
Context Therapeutics (NASDAQ:CNTX) said it expects that its cash and cash equivalents balance will be sufficient to fund its operations into 2024.
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"Context has bolstered our corporate, financial, and scientific efforts over the past two quarters,” said Martin Lehr, CEO of Context Therapeutics (NASDAQ:CNTX), in a statement.
“We've grown our R&D and operations teams, reported positive data on lead product candidate onapristone extended release (ONA-XR) in early breast cancer, and closed on a $31.25M private placement, which combined with our IPO, extends our cash runway into 2024.”
Lehr added: "We've set our sights on another exciting year as we work to realize the potential of our pipeline to advance treatments for women's cancers. We're looking forward to preliminary data from several of the ONA-XR Phase 2 clinical trials in 2022 and announcing our Claudin 6 x CD3 bispecific antibody clinical candidate for ovarian and endometrial cancers."
In March 2022, the company noted it announced the acceptance of five abstracts that highlight new preclinical data on ONA-XR and Claudin 6 (CLDN6) programs that will be presented at the American Association for Cancer Research Annual Meeting (AACR) 2022 on April 8-13 in New Orleans.
Additionally in 2022, the company said it anticipates selecting a candidate to support IND-enabling studies for its second clinical program, an anti-CD3 x anti-CLDN6 antigen bispecific monoclonal antibody (bsAb) intended to redirect T-cell-mediated lysis toward malignant cells expressing CLDN6.
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