Celyad Oncology reports Q1 results
- Celyad Oncology press release (NASDAQ:CYAD): Q1 As of March 31, 2023, the Company had cash and cash equivalents of €9.2 million ($10.0 million).
- Net cash burn during the first quarter of 2023 amounted to €3.2 million, in line with expectations.
- The company projects that its existing cash and cash equivalents should be sufficient to fund operating expenses and capital expenditure requirements into the fourth quarter of 2023.
The company continues to project that its existing cash and cash equivalents will not be sufficient to fund its estimated operating and capital expenditures over at least the next 12 months from the date that this release is issued.
The company is currently evaluating different financing options to obtain the required funding to extend the company’s cash runway beyond 12 months from the date this release is issued.