Sirnaomics Ltd reported QQ3 2024 revenue of $0.434 million with a gross profit of $0.145 million, yielding a gross margin of 33.3%. The quarter was characterized by persistent and elevated research and development (R&D) and administrative expenses, resulting in an EBITDA loss of $5.40 million and a net loss of $5.16 million. R&D expenditure remained the principal driver of operating losses, underscoring the company’s strategy to aggressively advance its RNA therapeutics pipeline over near-term profitability.
On the balance sheet, liquidity remains constrained despite a cash position of approximately $11.77 million at quarter-end. Current liabilities substantially exceed current assets, producing a current ratio of 0.52 and a cash ratio of 0.32, with an overall negative shareholders’ equity of about $1.68 million. The company reported net cash outflow from operating activities of about $2.18 million and a free cash flow burn of roughly $2.16 million for the quarter, partially offset by financing activities that added about $3.26 million. These dynamics imply a continued dependence on external funding or partnering arrangements to sustain pipeline development and working capital needs.
Management commentary is not available in the provided transcript data, limiting the ability to quote management-specific guidance or sentiment. Investors should monitor pipeline milestones, potential licensing or collaboration arrangements, and any new capital initiatives as levers for future value creation.