TYME is an emerging biotechnology company developing cancer metabolism-based therapies (CMBTs™) that are intended to be effective across a broad range of solid tumors and hematologic cancers, while also maintaining patients’ quality of life through relatively low toxicity profiles. Our definitions of adjusted net loss and adjusted loss per share may not be comparable to similar measures reported by other companies. These Non-GAAP Measures should be considered a supplement to, not a substitute for, or superior to, the corresponding financial measures calculated in accordance with GAAP. These items are adjusted because they are not operational or because they are significant noncash charges and management believes these adjustments are meaningful to understanding the Company's performance during the periods presented.
In the reconciliation tables that follow, we present adjusted net loss and adjusted net loss per share, reconciled to their comparable GAAP measures, net loss and net loss per share. generally accepted accounting principles ("Non-GAAP Measures"). These financial measures are presented on a basis other than in accordance with U.S. The adjustments relate to the change in fair value of warrant liability, amortization of employees, directors and consultants stock options and gain on warrant exchange. See “Use of Non-GAAP Measures” below for a reconciliation to the comparable GAAP measures.Īdjusted net loss and adjusted net loss per share as presented in this report are non-GAAP measures. Adjusted net loss and adjusted net loss per share are non-GAAP measures. The difference of $0.5 million was due to $2.4 million of amortization of employee, director, and consultant stock options substantially offset by the change in fair value of the warrant liability of $1.8 million.
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The decrease in net loss compared to the prior year reflected lower ongoing trial costs due to the discontinued TYME-88-Panc Part 2 third-line Metastatic Pancreatic Cancer and Precision Promise trials, partially offset by costs incurred related to the OASIS clinical trial as well as various preclinical studies that commenced in the fiscal year.Īdjusted net loss was $23.0 million, or ($0.13) per share for the year ended Macompared to the GAAP net loss of $23.6 million. Net loss for the year ended Mawas $23.6 million, or ($0.14) per share compared to $29.0 million or ($0.22) per share for the year ended March 31, 2021. The cash burn rate, which reflects the Company’s cash operating expenses, was somewhat higher than previous projections primarily due to severance costs of $2.2 million recognized in the period. TYME’s operational cash burn rate for the fourth quarter of fiscal year 2022 was $7.7 million compared to $4.5 million for the third quarter and $5.2 million for the fourth quarter of fiscal year 2021.
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Fourth Fiscal Quarter and Full Year 2022 Financial ResultsĪs of the quarter ended March 31, 2022, the Company had approximately $84.0 million in cash and marketable securities, compared to $92.0 million as of the quarter ended December 31, 2021.
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