180 Life Sciences Corp. reported Q2 2024 financial results, with net income of $11,781 compared to a net loss of $3.68 million in Q2 2023. The improvement was primarily driven by $1.7 million in insurance proceeds received from AmTrust and a $157,000 gain from liability settlements. Total operating expenses decreased 50% to $1.85 million from $3.68 million in the prior year period.Research and development expenses declined 38% to $488,323, while general and administrative expenses decreased 56% to $1.22 million, reflecting reduced legal fees, professional services, and stock-based compensation. The company ended the quarter with $1.15 million in cash and a working capital deficit of $1.67 million, down from $1.98 million cash at year-end 2023.The company faces ongoing Nasdaq compliance challenges regarding minimum stockholders' equity requirements and audit committee composition. While receiving an extension until September 30, 2024 to regain compliance, management is exploring strategic alternatives including potential mergers, acquisitions, or asset sales to maximize shareholder value. The company has significantly reduced R&D activities across its therapeutic platforms due to resource constraints.

180 Life Sciences Corp. reported Q2 2024 financial results, with net income of $11,781 compared to a net loss of $3.68 million in Q2 2023. The improvement was primarily driven by $1.7 million in insurance proceeds received from AmTrust and a $157,000 gain from liability settlements. Total operating expenses decreased 50% to $1.85 million from $3.68 million in the prior year period.Research and development expenses declined 38% to $488,323, while general and administrative expenses decreased 56% to $1.22 million, reflecting reduced legal fees, professional services, and stock-based compensation. The company ended the quarter with $1.15 million in cash and a working capital deficit of $1.67 million, down from $1.98 million cash at year-end 2023.The company faces ongoing Nasdaq compliance challenges regarding minimum stockholders' equity requirements and audit committee composition. While receiving an extension until September 30, 2024 to regain compliance, management is exploring strategic alternatives including potential mergers, acquisitions, or asset sales to maximize shareholder value. The company has significantly reduced R&D activities across its therapeutic platforms due to resource constraints.