Financial Highlights
Cash Position: As of June 30, 2019, the Company held cash and cash equivalents of $184.1 million, compared to $208.8 million as of March 31, 2019. The Company currently expects cash and cash equivalents will be sufficient to fund operations into 2021.
Revenues: Revenue for the three months ended June 30, 2019 was $2.5 million, compared to $3.1 million during the same period 2018. The decrease reflects the October 2018 termination of the development of S100A1 under our collaboration with Bristol-Myers Squibb.
R&D Expenses: Research and development expenses were $24.2 million for the three months ended June 30, 2019, compared to $18.5 million during the same period 2018. The change was primarily related to increased activities associated with our ongoing clinical studies of AMT-061, the planned Phase I/II study of AMT-130, increased share-based compensation and the hiring of additional clinical and operations staff at our Lexington site.
SG&A Expenses: Selling, general and administrative expenses were $7.9 million for three months ended June 30, 2019, compared to $5.9 million during the same period 2018. The change was primarily related to increases in personnel and consulting expenses, professional fees and share-based compensation expenses.
Net Loss: The net loss for the three months ended June 30, 2019 was $31.4 million, or $0.83 per share, compared to $20.6 million, or $0.57 per share during the same period 2018.