Pluri Inc reported QQ4 2024 results with minimal revenue and a substantial operating loss consistent with a late-stage clinical program company still in pre-commercial mode. Revenue for Q4 2024 was $96k, down 13.5% year over year from $111k in QQ4 2023, but up 35.2% quarter over quarter from Q3 2024. The quarter featured aggressively funded R&D and general/administrative spending (R&D $3.395m; SG&A $2.731m), driving an EBITDA of approximately -$5.58m and an operating loss of -$6.03m. Net loss to shareholders was -$5.73m, or -$1.06 per share on 5.408m weighted shares, reflecting ongoing burn as the company advances its PLXR18 and PLXPAD programs. Net cash used in operating activities was -$4.31m, with free cash flow of -$4.32m. Financing activities contributed $8.84m, yielding a modest sequential uptick in cash to $7.67m at quarter-end. The balance sheet shows substantial long-term debt (~$29.05m) and total liabilities of ~$34.11m against ~ $39.53m of assets, with a robust current ratio (~7x) driven by a low-revenue base. Management commentary is not reflected in transcripts (no transcript provided in the data set), leaving forward guidance and near-term milestones as the primary near-term catalysts to watch. Overall, Pluri remains in a high-risk, high-uncertainty phase with meaningful upside potential if PLXPAD and pipeline assets deliver compelling clinical data and potential partnerships or licensing deals materialize.