Aditxt Inc. reported significant revenue decline for Q3 2024, with sales dropping to $6,854 from $124,486 in Q3 2023, primarily due to decreased COVID testing demand. The company posted a net loss of $6.98 million for the quarter, compared to $9.75 million in the same period last year. Operating expenses decreased to $4.24 million from $8.11 million, driven by reduced research and development spending and lower compensation costs.The company's financial position remains challenging with cash balance of $328,596 as of September 30, 2024. Total current liabilities stood at $24.37 million, including $14.59 million in accounts payable and accrued expenses. Management acknowledged substantial doubt about the company's ability to continue as a going concern, citing the need for significant additional capital to fund operations.To address capital needs, Aditxt has undertaken several financing...Show More

Aditxt Inc. reported significant revenue decline for Q3 2024, with sales dropping to $6,854 from $124,486 in Q3 2023, primarily due to decreased COVID testing demand. The company posted a net loss of $6.98 million for the quarter, compared to $9.75 million in the same period last year. Operating expenses decreased to $4.24 million from $8.11 million, driven by reduced research and development spending and lower compensation costs.The company's financial position remains challenging with cash balance of $328,596 as of September 30, 2024. Total current liabilities stood at $24.37 million, including $14.59 million in accounts payable and accrued expenses. Management acknowledged substantial doubt about the company's ability to continue as a going concern, citing the need for significant additional capital to fund operations.To address capital needs, Aditxt has undertaken several financing initiatives, including a $150 million equity line facility and various securities offerings. The company is also pursuing strategic transactions, including merger agreements with Evofem Biosciences and Appili Therapeutics, though facing challenges in meeting certain financial obligations required to complete these deals. Nasdaq compliance remains a concern, with the company subject to continued monitoring through December 2024.