Molecure is entering FY23 with two active clinical programmes. OATD-01, the company’s lead proprietary asset, is in development for the treatment of sarcoidosis, but management expects to expand into new indications if the data are supportive. The first patient is due to be dosed in the Phase II trial for this asset in H223. Molecure also recently reported the first dosing in the Phase I trial for OATD-02, a novel drug for the treatment of solid tumours; an update for this study is expected in Q423. The company reported a 22.3% y-o-y increase in operating expenses for FY22, due to higher costs of external services and personnel expenses during the year. With a net cash position of PLN54.0m at end FY22, management anticipates a cash runway into early FY24 (at least 12 months).
