The company has not recorded any revenues for the current as well as previous quarter.

Operating loss for the quarter was $11.56 million, compared with an operating loss of $12.97 million in the previous year period.

"In the first quarter, we continued to build a solid management team and the financial foundation that will help us execute our core objectives over the next several years,” said Scott Myers, president and chief executive officer of Cascadian Therapeutics. "We are focused on enrolling HER2CLIMB, our pivotal study of tucatinib in combination for late-stage HER2-positive metastatic breast cancer for patients with and without brain metastases. We are very pleased with the current pace of enrollment and are expanding HER2CLIMB globally."