Summary by Moomoo AI
Biora Therapeutics, a clinical-stage biotechnology company, reported a net income of $6.465 million for the three months ended June 30, 2024, a significant turnaround from a net loss of $17.807 million in the same period the previous year. The company's diluted loss per share was $0.04, compared to a diluted loss per share of $0.06 for the six months ended June 30, 2024. Despite a net loss on a diluted basis, the company saw an increase in revenues to $318,000 for the quarter, up from $2,000 in the prior year, attributed to collaboration revenue. Operating expenses for the quarter were $16.104 million, with research and development expenses increasing to $7.704 million due to higher clinical trial expenses, salaries, and laboratory supplies. Selling, general and administrative expenses decreased slightly to $8.400 million...Show More