Nkarta: Autoimmune Disease Focused Nkarta Stock Trading Higher On Thursday

Nkarta, Inc. (NASDAQ:NKTX) reported a fourth-quarter earnings report on Wednesday with a loss of 35 cents per share, beating the consensus of a loss of 41 cents.The company announced restructuring and a workforce reduction of 34% (53 positions), including the freezing of some future hires, to extend the cash runway by more than one year to enable clinical milestones while having ample cash runway following the realization of those milestones.Cash payments resulting from the restructuring are estimated to be $5.5 to $6.5 million.Also Read: Small-Cap Firm Century Therapeutics' Expands into Autoimmune Diseases, Analyst Says Clade Therapeutics Acquisition IntriguingCash balance of $380.5 million on December 31, 2024, including cash, cash equivalents, and investments, is expected to fund operations into 2029.Nkarta's development program includes two clinical trials and two ...Full story available on Benzinga.com