Leap Therapeutics, Inc. reported their financial results for the first quarter of 2025 with a net loss of $15.4 million, an increase from the $13.8 million net loss recorded in the first quarter of 2024. The rise in net loss was primarily attributed to increased research and development expenses, which were $12.9 million compared to $11.3 million for the same period in 2024. This increase was mainly due to higher clinical trial costs associated with the expansion of Part B of the DeFianCe study and increased activity related to the end of Part C of the DisTinGuish study. General and administrative expenses decreased to $3.0 million from $3.5 million in the previous year, owing to reductions in professional fees and stock-based compensation expenses. Leap Therapeutics reported cash and cash equivalents totaling $32.7 million as of March 31, 2025. The company also highlighted positive data from their Phase 2 DeFianCe study of sirexatamab in colorectal cancer patients, showing significantly higher overall response rates and longer progression-free survival. The company continues to focus on advancing sirexatamab in colorectal cancer and FL-501 preclinically to maximize shareholder value.
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