Benzinga | May 13, 2021 09:26AM EDT

Chemomab Q1 2021 Net Loss Of $17M

First Quarter 2021 Financial Highlights

* Cashand cash equivalents as of March 31, 2021 were $58.2 million which includes $45.5 million of gross proceeds from the private placement completed on March 22, 2021.

* Research and Development expenses for the three months ended March 31, 2021 were $1.2 million, compared to $1.6 million for the three months ended March 31, 2020. The decrease of $0.4 million was primarily related to a decrease in expenses to sub-contractors.

* General and administrative expenses were $0.5 million for the three months ended March 31, 2021, compared to $0.1 million for the three months ended March 31, 2020. The increase of $0.4 million was primarily related to merger related expenses.

* Net loss for the three months ended March 31, 2021 and 2020 was $1.7 million.