Summary by Moomoo AI
Tharimmune, a clinical-stage biotechnology company, reported a net loss of $2,256,109 for the quarter ended March 31, 2024, a decrease from the net loss of $2,688,288 for the same period in 2023. The loss per share improved significantly to $(0.19) from $(5.84) year-on-year, reflecting an increase in the weighted average number of common shares outstanding from 460,580 to 11,757,808. Operating expenses for the quarter totaled $2,347,303, down from $2,714,398 in the previous year, with research and development expenses slightly decreasing to $1,025,258 from $1,047,677, and general and administrative expenses reducing to $1,322,045 from $1,666,721. Other income, net of expenses, increased to $91,194 from $26,110, primarily due to a rise in interest income to $95,894 from $32,248. Tharimmune's cash position decreased to $8,427,290 from $10,935,352 at the beginning of the period. The company's business development has been...Show More
