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Biora Therapeutics | 10-Q: Q2 2024 Earnings Report

Biora Therapeutics | 10-Q: Q2 2024 Earnings Report

Biora Therapeutics | 10-Q:2024財年二季報
美股SEC公告 ·  2024/08/12 16:38

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Biora Therapeutics reported Q2 2024 net income of $6.5 million compared to a net loss of $17.8 million in Q2 2023. Revenue increased to $0.3 million while operating expenses rose to $16.1 million, primarily due to increased clinical trial activities. The company ended the quarter with $5.1 million in cash and cash equivalents.The company made significant progress in its clinical programs, particularly with BT-600, its drug/device combination for ulcerative colitis treatment. Phase 1 clinical trial results demonstrated successful colonic delivery with NaviCap devices showing >95% accuracy in colon detection and no early drug release. The trial also indicated lower systemic drug exposure compared to conventional oral delivery.Management secured additional funding through convertible notes and equity offerings to advance its therapeutic platforms. In July 2024, the company entered into a $90 million equity distribution agreement and received forbearance agreements from noteholders while pursuing strategic financing options. However, the company noted substantial doubt about its ability to continue as a going concern without raising additional capital.
Biora Therapeutics reported Q2 2024 net income of $6.5 million compared to a net loss of $17.8 million in Q2 2023. Revenue increased to $0.3 million while operating expenses rose to $16.1 million, primarily due to increased clinical trial activities. The company ended the quarter with $5.1 million in cash and cash equivalents.The company made significant progress in its clinical programs, particularly with BT-600, its drug/device combination for ulcerative colitis treatment. Phase 1 clinical trial results demonstrated successful colonic delivery with NaviCap devices showing >95% accuracy in colon detection and no early drug release. The trial also indicated lower systemic drug exposure compared to conventional oral delivery.Management secured additional funding through convertible notes and equity offerings to advance its therapeutic platforms. In July 2024, the company entered into a $90 million equity distribution agreement and received forbearance agreements from noteholders while pursuing strategic financing options. However, the company noted substantial doubt about its ability to continue as a going concern without raising additional capital.
Biora Therapeutics報告2024年第二季度凈利潤爲650萬美元,而2023年第二季度則虧損1780萬美元。營業收入增加到30萬美元,而營業費用上升至1610萬美元,主要由於臨牀試驗活動的增加。該公司在現金及現金等價物方面以510萬美元結束了該季度。該公司在其臨牀項目上取得了顯著進展,特別是在Bt-600方面,這是其用於潰瘍性結腸炎治療的藥物/設備組合。第一階段臨牀試驗結果顯示,NaviCap設備在結腸檢測中顯示出超過95%的準確性,並且沒有早期藥物釋放。該試驗還表明,與傳統口服給藥相比,系統性藥物暴露較低。管理層通過可轉換票據和股權發行獲得了額外資金,以推進其治療平台。在2024年7月,該公司簽署了一項9000萬美元的股權分銷協議,並在追求戰略融資選項的同時獲得了持票人所提供的寬限協議。然而,該公司指出,若不籌集額外資金,繼續作爲一個持續經營的實體的能力存在重大疑慮。
Biora Therapeutics報告2024年第二季度凈利潤爲650萬美元,而2023年第二季度則虧損1780萬美元。營業收入增加到30萬美元,而營業費用上升至1610萬美元,主要由於臨牀試驗活動的增加。該公司在現金及現金等價物方面以510萬美元結束了該季度。該公司在其臨牀項目上取得了顯著進展,特別是在Bt-600方面,這是其用於潰瘍性結腸炎治療的藥物/設備組合。第一階段臨牀試驗結果顯示,NaviCap設備在結腸檢測中顯示出超過95%的準確性,並且沒有早期藥物釋放。該試驗還表明,與傳統口服給藥相比,系統性藥物暴露較低。管理層通過可轉換票據和股權發行獲得了額外資金,以推進其治療平台。在2024年7月,該公司簽署了一項9000萬美元的股權分銷協議,並在追求戰略融資選項的同時獲得了持票人所提供的寬限協議。然而,該公司指出,若不籌集額外資金,繼續作爲一個持續經營的實體的能力存在重大疑慮。
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