Summary by Moomoo AI
NeuroSense Therapeutics, a clinical-stage biotechnology company, reported a net loss of $10.1 million for the year ended December 31, 2023, compared to a net loss of $10.5 million for the previous year. The company's research and development expenses increased by 30.2% to $7.3 million, primarily due to clinical study costs and an increase in employee numbers. General and administrative expenses slightly decreased by 3.9% to $4.8 million. Financing income netted a gain of $1.9 million, mainly from the revaluation of warrants. As of December 31, 2023, NeuroSense had cash and cash equivalents of $2.6 million. The company's financial statements have been prepared on a going concern basis, and it has been indicated that existing cash will not suffice for the next 12 months without additional financing. NeuroSense's lead product candidate, PrimeC, is in development for treating neurodegenerative diseases such as ALS, with ongoing clinical trials and regulatory processes. The company has not generated any revenue to date and expects to continue incurring losses as it invests in product development and seeks regulatory approvals.