Net cash used in operating activities

Increased from –$73.63M to –$121.58M (≈65% increase)

Despite a lower reported net loss, the operating cash burn rose substantially. This is likely driven by changes in working capital requirements or timing differences such as increased cash outflows for operational needs compared to the prior period. " "

Net loss

Improved from –$95.21M to –$79.03M (≈17% reduction)

The improvement in net loss indicates better control of operating costs, with reductions in both R&D and G&A expenses contributing to a 17% decrease, reflecting overall cost containment efforts relative to the previous period. " "

Cash and cash equivalents

Fell from $218.10M to $73.89M (≈66% decrease)

The sharp decline in cash indicates heavy operational cash usage, which, combined with lower financing inflows or strategic use of cash reserves, resulted in a 66% drop compared to the previous period. " "

Total assets

Declined from $742.69M to $491.14M (≈34% decrease)

A 34% reduction in assets is primarily attributable to the significant decline in cash and short-term marketable securities, reflecting both the cash burn and changes in investment strategy compared to the previous period. " "

Operating expenses (R&D costs)

Decreased from $83.37M to $72.03M (≈14% decrease)

The 14% drop in R&D expenses suggests a scaling down of R&D activities, possibly due to the completion or consolidation of clinical development programs that were more active in the previous period. " "

Operating expenses (G&A expenses)

Decreased nearly 40% YoY

A nearly 40% reduction in G&A expenses reflects cost-cutting measures, including lower personnel and consultancy costs, perhaps driven by organizational restructuring compared to the previous period. " "

Weighted-average common shares outstanding

Dropped from 9.11M to 0.33M (≈96% reduction)

The dramatic 96% reduction is attributed to a share consolidation, which significantly reduced the number of outstanding shares. This strategic move improves per-share metrics and reflects a major capital structure adjustment relative to the last period. " "