multiple goals. Additionally, PDS entered into a license arrangement with the National Cancer Institute to obtain intellectual property rights linked to the NCI’s unique T-cell receptor gamma alternative reading frame protein tumor antigen for use in PDS0102.
Registration into the research of the PDS0101 triple combination led by NCI was temporarily halted throughout the quarter, with PDS communicating with the NCI and treating existing patients. Additionally, PDS made an arrangement with the University of Georgia to license specific antigens that are to be used in the production of PDS0202, which is an unique Versamune-based universal flu vaccine.
Following the appointment of Matthew Hill as the chief financial officer, with over 25 years of expertise in finance and operational leadership roles for health sciences organizations, the company reinforced its staff. As per the report released by PDS, there was a net loss of around US$7 million for the three months ended until September 30, as compared to US$3.9 million a year ago, with R&D expenses totaling US$3.7 million this year, up from US$2.1 million the previous year. However, by September end, there was roughly $69.7 million in cash and cash equivalents.
NetScientific’s CEO, Ilian Iliev, appreciated PDS for its steady progress in the field as well as complimented the company’s financial strength. He said, “The Q3 2021 results by PDS show continued progress by the company in its clinical trials programme, strengthened team, and an ability to identify and exploit further opportunities. With $69.7m of cash at the end of period, the company is well funded to execute its strategy and exploit opportunities. We remain supportive of the PDS management and look forward to the pipeline development milestones in 2022 and 2023.”
