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Neoleukin Therapeutics (NASDAQ: NLTX) announced significant preclinical data on its lead immunotherapy candidate, NL-201, designed to enhance CAR-T cell activity. Presentations at the AACR Virtual Annual Meeting II included insights on the molecule's immunogenicity in non-human primates and extended half-life characteristics. The company also unveiled a novel method for conditional activation of proteins, which could improve the therapeutic index of immunotherapies. Following the presentations, Neoleukin plans a virtual investor event to discuss these findings and the potential of its de novo protein design technology.
Neoleukin Therapeutics (NASDAQ: NLTX) reported a net loss of $8.6 million for Q1 2020, a significant increase from $2.2 million in Q1 2019. The company holds $139.4 million in cash, down from $143.1 million at the end of 2019, which is projected to support operations through 2022. R&D expenses surged to $5.5 million, attributed to IND-enabling activities for NL-201. General and administrative expenses rose to $3.6 million due to increased headcount. The IND submission for NL-201 is anticipated by year-end 2020, with three abstracts set for AACR-II presentation.