Why Bio-Path Holdings Shares Are Falling Today

Bio-Path Holdings, Inc. BPTH shares are falling on Friday.

The company reported fourth-quarter earnings per share of $4.23 loss, narrower than the estimate of $5.40 loss. 

Bio-Path reported a net loss of $33.63 per share for the year ended Dec. 31, 2023, lower than $38.12 per share in the year-ago period.

Research and development expense for the full year increased to $11.6 million, compared to $9.2 million in the year-ago period.

As of Dec. 31, 2023, the company had cash of $1.1 million, compared to $10.4 million as of Dec. 31, 2022. 

In December, Bio-Path announced the completion of the first dose cohort of the dose escalation portion of its Phase 1 clinical trial of BP1002, evaluating the ability of BP1002 for the treatment of refractory/relapsed lymphoma and refractory/relapsed CLL patients.

“As we look to the months and year ahead, we expect to build on the clinical progress achieved to date to bring potentially life-saving new medicines to patients battling cancers,” Bio-Path CEO Peter Nielsen said.

Price Action: BPTH shares are trading lower by 4.98% to $5.920 on the last check Friday.

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