180 Life Sciences Corp. reported financial results for the quarter ended March 31, 2024, with a net loss of $1,069,744, a decrease from the net loss of $4,762,078 for the same period in 2023. Research and development expenses decreased by 37% to $365,186, while general and administrative expenses saw a significant reduction of 61% to $1,556,740. The company also reported other income of $1,022,724, primarily due to the forgiveness of certain R&D program-related liabilities. Despite these changes, the company continues to face challenges, including non-compliance with Nasdaq's continued listing standards regarding minimum stockholders' equity, which has resulted in a delisting determination letter from Nasdaq. The company is actively seeking to regain compliance and is considering strategic alternatives to maximize shareholder value. Future plans include continued development of...Show More

180 Life Sciences Corp. reported financial results for the quarter ended March 31, 2024, with a net loss of $1,069,744, a decrease from the net loss of $4,762,078 for the same period in 2023. Research and development expenses decreased by 37% to $365,186, while general and administrative expenses saw a significant reduction of 61% to $1,556,740. The company also reported other income of $1,022,724, primarily due to the forgiveness of certain R&D program-related liabilities. Despite these changes, the company continues to face challenges, including non-compliance with Nasdaq's continued listing standards regarding minimum stockholders' equity, which has resulted in a delisting determination letter from Nasdaq. The company is actively seeking to regain compliance and is considering strategic alternatives to maximize shareholder value. Future plans include continued development of therapeutics for unmet medical needs in chronic pain, inflammation, fibrosis, and other inflammatory diseases, with a focus on three product development platforms: fibrosis and anti-TNF, CBD derivatives, and α7nAChR. However, due to resource constraints, research and development activities in the SCA and anti-TNF platforms have slowed, and the α7nAChR platform has been suspended.