ProQR Therapeutics N.V. reported a net loss of $8.9 million, or 11 cents per share, for the third quarter ended September 30, 2024. The company's revenue for the period was $4.2 million, marking a 191% increase compared to the third quarter of 2023.
As of September 30, 2024, ProQR held €89.4 million in cash and cash equivalents. Net cash used in operating activities during the quarter was €5.7 million, an improvement from €7.5 million used in the same period last year.
The company also noted that it received $5.5 million in milestone payments from its collaboration agreement with Eli Lilly during the first three quarters of 2024. ProQR projects a financial runway into mid-2027, supported by the $82.1 million gross proceeds from its October financing, and anticipates AX-0810 will be its first Axiomer RNA editing program to enter the clinic.
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