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F-star Therapeutics, Inc.

f-star.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2022 10-Q, filed Nov 10, 2022. Its latest SEC filing is a 15-12G from Mar 20, 2023.

The sections below describe the company as of the FY2021 annual report.

What Did They Do?

Develops antibody-based cancer drug candidates and licenses its antibody platform to pharmaceutical and biotechnology companies developing medicines in oncology, immunology and central nervous system conditions.

How Did They Make Money?

Pharmaceutical and biotechnology partners pay upfront for licenses and for research work as it is performed; other payments can come when options are exercised or development milestones are reached, and royalties may arrive when partner products sell.

FY2021 revenue

Who Were Their Customers?

Pharmaceutical and biotechnology companies work with F-star through license and collaboration agreements to develop drug candidates using its antibody platform.

Did Revenues Turn Into Profits?

No. It lost $31.3M in FY2021.

Operating income, FY2021
−145% of revenue
▲ +37% (Loss) vs FY2020 (−$22.4M, −199%)
Net income, FY2021
−148% of revenue
▲ +22% (Loss) vs FY2020 (−$25.6M, −228%)
Free cash flow, FY2021
−132% of revenue

How Were They Changing?

Since the FY2021 annual report
Latest quarter: Q3 FY2022, the three months to Sep 30, 2022
Revenue
▲ +50%
vs $751K in Q3 FY2021
Net income
▲ +71% (Loss)
vs −$10.8M in Q3 FY2021
  • Mar 9, 2023 invoX completed its acquisition of F-star F-star became a wholly owned subsidiary of invoX, and the company requested Nasdaq trading suspension and delisting.
  • Mar 7, 2023 CFIUS cleared invoX's proposed acquisition The clearance satisfied the final required regulatory approval for the merger.
  • Dec 29, 2022 CFIUS order temporarily blocked the pending merger The order cited unresolved national security risks and extended the tender offer to allow further discussions.

A shift to antibody-based cancer drugs The older report centered on small-molecule nucleotide drugs for viral and inflammatory diseases, especially chronic hepatitis B; the latest centers on antibody-based cancer immunotherapies and a bispecific antibody platform, with antibody candidates in clinical development.

More partner platform licensing The older report described compounds for which F-star retained exclusive global commercial rights; the latest also describes licensing its platform and partner-developed programs alongside its own product candidates.

Who Did They Compete With?

Competes with AstraZeneca, BMS, EMD Serono, Genentech, Eli Lilly, MSD, Novartis, Pfizer, Sanofi, Genmab, Inhibrx, MacroGenics, Merus, Pieris Pharmaceuticals, Hoffmann-LaRoche, Shattuck Labs, Xencor, Epimab, Innovent, and Regeneron

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