Leap Therapeutics Inc. has released its financial results for the second quarter of 2025. The company reported a net loss of $16.6 million, an improvement from the $20.4 million net loss experienced during the same period in 2024. This decrease in net loss was largely attributed to a reduction in research and development and general and administrative expenses, although it was partially offset by restructuring charges due to a workforce reduction. Research and development expenses for the second quarter of 2025 were $10.5 million, down from $17.9 million in the second quarter of 2024. This $7.4 million decrease resulted from lower clinical trial costs, payroll and headcount-related expenses, manufacturing costs, and stock-based compensation expenses. Significant business updates include the company's strategic restructuring, which involved a 75% workforce reduction aimed at preserving capital. Additionally, the Board of Directors has initiated a process to explore strategic alternatives to maximize shareholder value, including potential sales or partnerships for its therapies sirexatamab and FL-501. Raymond James & Associates, Inc. has been engaged as the exclusive financial advisor to assist in this strategic evaluation.