Ann: Trading Halt, page-103

https://www.biospace.com/article/releases/fresh-tracks-therapeutics-reports-first-quarter-2023-financial-results-and-provides-corporate-update/

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First Quarter 2023 Financial Results

The Company reported cash and cash equivalents of $10.8 million as of March 31, 2023, compared to $8.7 million as of December 31, 2022. The Company expects its cash and cash equivalents as of March 31, 2023 will be sufficient to fund its operations for at least the next 12 months.

Revenue was $9 thousand for the first quarter of 2023, compared to $92 thousand for the first quarter of 2022. Revenue in 2023 primarily consisted of contract revenue recognized for services provided under a transition services agreement with Botanix, while revenue in 2022 was driven by royalty revenue earned on a percentage of net sales of ECCLOCK^® (sofpironium bromide gel, 5%) in Japan under a licensing agreement with Kaken Pharmaceutical Co., Ltd.

Research and development expenses were $1.9 million for the first quarter of 2023, compared to $6.0 million for the first quarter of 2022. The decrease in research and development expenses of $4.1 million was driven primarily by lower clinical expenses of $2.2 million related to sofpironium bromide, decreased costs of $1.9 million related to our STING inhibitor program, and lower personnel and other unallocated expenses of $0.2 million, partially offset by increased costs of $0.2 million related to our DYRK1A inhibitor program.

General and administrative expenses were $2.4 million for the first quarter of 2023, compared to $3.5 million for the first quarter of 2022. The decrease of $1.1 million was primarily related to decreased expenses in the 2023 period of $0.6 million for legal and compliance fees, $0.3 million for other expenses, and $0.2 million for compensation-related expenses.

The Company’s net loss was $4.3 million for the first quarter of 2023 compared to $9.4 million for the first quarter of 2022.