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Increased R&D spending results in larger loss for Edgewise

BOULDER — Clinical-stage, pre-revenue pharmaceutical company Edgewise Therapeutics Inc. (Nasdaq: EWTX), which markets itself as a developer of “orally bioavailable, targeted, small molecule therapies for the treatment of devastating muscle disorders,” spent $19.9 million on research and development in the first quarter of 2023, up from $16.6 million for the immediately preceding period. 

General and administrative expenses were also up slightly quarter over quarter. 

Edgewise posted a net loss of $22.8 million in the most recent period, up from $19.4 million in the immediately preceding quarter.

The company finished the first quarter of 2023 with cash, cash equivalents and marketable securities worth $328 million.

Edgewise’s stock price finished trading Thursday at $9.52, down 3.99% on the day.

Source: BizWest