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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
TFF Pharmaceuticals
TFF Pharmaceuticals (TFFP) investor relations material
TFF Pharmaceuticals has been delisted
TFF Pharmaceuticals Q2 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2024 earnings summary14 Aug, 2024
Executive summary
TFF Pharmaceuticals focuses on inhaled dry powder drugs using Thin Film Freezing (TFF) technology, with TFF TAC and TFF VORI as main candidates in Phase 2 trials as of June 2024.
Positive Phase 2 TFF TAC data show strong safety, efficacy, and biomarker improvements for lung transplant rejection prevention, with 13 patients enrolled and all completing 12 weeks opting for long-term extension.
No mortality or severe adverse events in TFF TAC trial; kidney function maintained and one minimal acute rejection case resolved.
The company prioritized TFF TAC development in March 2024 and is evaluating strategic options for TFF VORI.
Strategic initiatives include partnership evaluations, government-funded MCM development, and advancing universal influenza vaccines to preclinical testing.
Financial highlights
Revenue for Q2 2024 was $650,222, up 95% from $333,351 in Q2 2023, mainly from grants and feasibility agreements.
Net loss for Q2 2024 was $4.5 million, improved from $5.0 million in Q2 2023; net loss for the six months ended June 30, 2024 was $10.2 million, down from $12.1 million in the prior year period.
Operating expenses for Q2 2024 decreased 14% year-over-year to $4.6 million, with R&D at $2.6 million (down 3%) and G&A at $2.0 million (down 24%).
Cash and cash equivalents as of June 30, 2024 were $4.4 million, with working capital of $2.3 million.
Accumulated deficit reached $128.5 million as of June 30, 2024.
Outlook and guidance
Management expresses substantial doubt about the company’s ability to continue as a going concern over the next 12 months without additional capital.
The company plans to seek further funding through equity, debt, licensing, or partnerships and may adjust its business plan to conserve capital.
Enrollment in the TFF TAC Phase 2 study is expected to end in the second half of 2024; TFF VORI Phase 2 trials have concluded.
Next TFF TAC study design is being finalized with regulatory update expected later in the fall.
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Frequently asked questions
TFF Pharmaceuticals Inc develops and commercializes innovative inhalable therapeutics using its proprietary Thin Film Freezing technology. Its focus areas include respiratory diseases, infectious diseases, and immunology. The company is headquartered in Austin, Texas, and its shares are listed on the NASDAQ.