Total Revenue

–1.3% (from $2,286K in Q4 2023 to $2,270K in Q4 2024)

The slight decrease in revenue likely reflects minor variability in revenue recognition from the ongoing Collaboration and License Agreement with Genentech, which yielded most revenue in previous periods; a slight decline in incremental work or timing differences may account for the 16K drop. " "

Operating Loss

42.6% improvement (loss improved from –$27,344K to –$15,716K)

The marked reduction in operating loss is driven by substantial cost-cutting measures, including steep reductions in both R&D expenses (down ~55%) and G&A expenses (down ~55%), thereby narrowing the loss despite relatively consistent revenue levels from the prior period. " " "

R&D Expense

–55% (from $18,704K in Q4 2023 to $8,409K in Q4 2024)

The significant drop in R&D spending suggests a shift in the company’s research strategy or a discontinuation/narrowing of certain trials, aligning with cost-cutting initiatives that reduced expenditure compared to the prior period’s higher investment in research activities. " "

General & Administrative Expense

–55% (from $10,926K in Q4 2023 to $4,924K in Q4 2024)

The substantial decline in G&A costs indicates effective restructuring measures—likely through headcount reduction and reduced professional fees—which helped lower administrative overhead compared to the previous quarter. " "

Cash and Cash Equivalents

+31% (from $64,326K in Q4 2023 to $84,571K in Q4 2024)

The increase in liquidity is evidence of improved cash management, where positive cash flows from operations or financing activities offset earlier lower balances, reflecting a stronger cash position compared to the previous period. " "

Short-term Investments

–74% (from $108,671K in Q4 2023 to $27,851K in Q4 2024)

The steep decline in short-term investments suggests that the company reallocated funds—possibly to cover operating and restructuring costs—which in turn contributed to a 41.7% drop in total assets and a 45% decline in stockholders’ equity relative to the prior period. " "