Revenue and profitability metrics
- Revenue: Not disclosed / not reported for QQ2 2024 (no revenue reported in the period). The four-quarter data also shows null revenue for the reported quarter in USD terms.
- Operating income: -$7.983 million, with YoY change -118.65% and QoQ change -90.34% indicating a deepening loss driven by ongoing R&D and overhead deployment rather than commercial sales.
- Net income: -$5.241 million, YoY change -46.77% and QoQ change -25.56%, reflecting continued cash-burn in a pre-revenue stage.
- EBITDA: -$5.244 million.
- Earnings per share (EPS): -$0.33, with YoY change -50% and QoQ change -26.92%.
Liquidity, cash flow, and balance sheet health
- Net cash provided by operating activities: -$2.103 million in QQ2 2024, driven by net loss and working capital movements.
- Free cash flow: -$2.162 million, reflecting ongoing operating loss after capital expenditures of $59k in the period.
- Cash and cash equivalents: $14.554 million at period end, up from $16.278 million at the prior period start accounting for forex effects and cash burn.
- Net debt position: Negative net debt of approximately -$14.084 million, with total debt of $0.47 million and cash cushions contributing to a conservative balance sheet stance.
- Balance sheet health: Total assets $22.359 million; total liabilities $3.487 million; total stockholders’ equity $18.872 million. Retained earnings stand at approximately -$98.179 million, consistent with a long history of investment in development rather than profitability.
Operational efficiency and capital allocation
- R&D expenses: $2.638 million; G&A: $5.345 million; combined operating expenses of $7.983 million, indicating a significant burn focused on pipeline progression rather than monetization.
- R&D intensity and cash burn reflect a development-stage biotech profile, with cash runway contingent on potential partnerships or milestone-based funding going forward.