Landos Biopharma Reports Net Loss of $15.8 Million for the Third Quarter of 2023

Landos Biopharma, Inc. [LABP], a leading biopharmaceutical company, published its financial results for the third quarter ended September 30, 2023. During this period, the company reported a net loss of $15.8 million and generated quarterly revenue of $5.9 million.

Financial Performance

In terms of financial performance, Landos Biopharma faced a challenging quarter with a net loss of $15.8 million. This represents a decrease compared to the same quarter last year, when the net loss was $7.9 million. The increased losses can be attributed to higher research and development expenses, which amounted to $3.1 million for the quarter. General and administrative expenses also rose to $2.1 million during the period, reflecting the company's investments in growth and operations.