Molecular Templates Inc (OQ:MTEM)
Business Focus: Bio Therapeutic Drugs
| Sector: Healthcare | Industry: Biotechnology & Medical Research |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 9301 Amberglen Blvd Ste 100 AUSTIN TX 78729-1153 |
| Tel: | N/A |
| Website: | https://mtem.com |
| IR: | See website |
| Key People | ||
| Jason S. Kim President, Chief Financial Officer | Eric E. Poma Chief Executive Officer, Chief Scientific Officer, Director | Kristen Quigley Chief Operating Officer | Grace Kim Chief Strategy Officer and Head of Investor Relations |
| Business Overview |
| Molecular Templates, Inc. is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted biologic therapeutics. The Company's proprietary drug platform technology, known as engineered toxin bodies (ETBs), leverages the resident biology of a genetically engineered form of Shiga-like Toxin A subunit to create novel therapies with potent and differentiated mechanisms of action for cancer. Its product pipeline includes MT-6402, MT-8421 and MT-0169. MT-6402 is an ETB consisting of a single chain variable fragments (scFv), with affinity for PD-L1, fused to the enzymatically active de-immunized SLTA and a HLA-A*02 class I antigen derived from the human cytomegalovirus (HCMV) pp65 protein. MT-8421, its ETB targeting CTLA-4, along with MT-6402. MT-0169 is designed to destroy CD38+ tumour cells through internalization of CD38 and cell destruction via a novel mechanism of action (enzymatic ribosomal destruction and immunogenic cell death). |
| Financial Overview |
| For the three months ended 31 March 2024, Molecular Templates Inc revenues decreased 70% to $11.1M. Net income decreased 95% to $572K. Revenues reflect Research and development revenue decrease of 68% to $10.9M, Grant revenue decrease of 95% to $162K. Net income also reflects Interest and other income, net decrease of 76% to $109K (income). Basic Earnings per Share excluding Extraordinary Items decreased from $2.89 to $0.11. |
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