Fusion Pharmaceuticals Inc.
fusionpharma.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q1 FY2024 10-Q, filed May 7, 2024. Its latest SEC filing is a 15-12G from Jun 17, 2024.
10-Q for Q1 FY2024, filed May 7, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Develops alpha-radiation cancer drugs that attach radioactive isotopes to targeting molecules to deliver treatment to tumors, for patients with cancer.
10-K for FY2023, filed Mar 20, 2024We are a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines. We have…View ↗
Radiopharmaceuticals are drugs that contain medical isotopes, which are unstable elements that emit radiation and can be used to diagnose…View ↗
We are leveraging our proprietary TAT platform to build on the successes of currently available radiation therapies and create the next…View ↗
How Did They Make Money?
Partners pay upfront license fees when a license is transferred; they may also pay research and development milestones and royalties tied to product sales. Revenue can also come from research and development services provided under collaboration agreements.
10-K for FY2023, filed Mar 20, 2024At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services…View ↗
The Company’s revenue generating arrangements typically include upfront license fees, milestone payments and/or royalties.View ↗
If a license is determined to be distinct from the other performance obligations identified in the arrangement, the Company recognizes…View ↗
At the inception of an agreement that includes research and development milestone payments, the Company evaluates each milestone to…View ↗
For arrangements that include sales-based royalties, including milestone payments based on the level of sales, and the license is deemed to…View ↗
For the years ended December 31, 2023 and 2022, the Company recorded $2.1 million and $1.5 million, respectively, of revenue under…View ↗
$2.1M
-
10-K for FY2023, filed Mar 20, 2024
$2.1M ↗
Who Were Their Customers?
Pharmaceutical collaborators, including AstraZeneca, work with Fusion to discover, develop and commercialize radiopharmaceuticals and combination treatments; Fusion may license its intellectual property and provide research and development services under these arrangements.
10-K for FY2023, filed Mar 20, 2024
Did Revenues Turn Into Profits?
No. It lost $94.9M in FY2023.
10-K for FY2023, filed Mar 20, 2024
−$99.2MView ↗
10-K for FY2023, filed Mar 20, 2024
−$94.9MView ↗
10-K for FY2023, filed Mar 20, 2024
−$85.7MView ↗
How Were They Changing?
- Net income
-
Sources
10-Q for Q1 FY2024, filed May 7, 2024
−$33.7MView ↗
- ▲ +39% (Loss)
- vs −$24.3M in Q1 FY2023
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Jun 4, 2024
AstraZeneca completed its acquisition of Fusion.
Fusion became a wholly owned subsidiary, and its shares will be delisted from Nasdaq.
Sources
8-K, filed Jun 4, 2024
In connection with the Arrangement, effective at 12:01 a.m. (Toronto Time) (the “Effective Time”) on June 4, 2024 (the “Closing Date”)…View ↗
A new lead program
The older report centered on its growth-factor receptor-targeting candidate and described another candidate as moving toward clinical development. The latest report identifies an acquired prostate-cancer candidate as its most advanced and also describes the growth-factor receptor-targeting candidate.
10-K for FY2020, filed Mar 25, 2021 10-K for FY2023, filed Mar 20, 2024
Broader targeting molecules
The older report described the platform as connecting alpha-emitting isotopes to antibodies and other targeting molecules. The latest report specifies that it can also radiolabel small molecules and peptides.
10-K for FY2020, filed Mar 25, 2021 10-K for FY2023, filed Mar 20, 2024We are a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines. We have…View ↗
We are a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines. We have…View ↗
Who Did They Compete With?
Competes with Bayer, Novartis, Actinium Pharmaceuticals, Johnson & Johnson, Orano Med, Telix Pharmaceuticals, Eli Lilly and, Bristol-Myers Squibb, Aktis Oncology, ARTBIO, AdvanCell Isotopes, Radionetics Oncology, Full-Life Technologies, Mariana Oncology, Lantheus Holdings, Q BioMed, Y-mAbs Therapeutics, and Clarity Pharmaceuticals
10-K for FY2023, filed Mar 20, 2024We consider our most direct competitors to be companies developing targeted alpha radiopharmaceuticals for the treatment of cancer. There…View ↗
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