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GRANT INCOME
 1 Months Ended
Jan. 31, 2022
GRANT INCOME.  
GRANT INCOME

NOTE 11: GRANT INCOME

In August 2021, the Company received notice of a Product Development Research award totaling approximately $13.1 million from CPRIT to support the Company's Phase 2 clinical trial of MT-401. The CPRIT award is intended to support the adjuvant arm of the Company's Phase 2 clinical trial evaluating MT-401 when given as an adjuvant therapy to patients with acute myeloid leukemia following a hematopoietic stem cell transplant. The primary objectives of the adjuvant arm of the trial are to evaluate relapse-free survival after MT-401 treatment when compared with a randomized control group.

During the fourth quarter of 2021, the Company received $2.4 million advancement of funds in relation to the CPRIT grant. The Company recorded $1.0 million of grant income related to the CPRIT grant as revenue for the three months ended March 31, 2022.  At March 31, 2022, $0.2 million was recorded as Restricted Cash and Deferred Revenue on the Company’s consolidated financial statements.