Summary by Moomoo AI
Aditxt, Inc., a biotech company specializing in immune modulation therapy and diagnostics, reported financial results for the quarter ended June 30, 2024. The company generated revenue of $44,276, a decrease from $220,978 in the same period last year. Cost of goods sold was $23,134, resulting in a gross profit of $21,142. Operating expenses totaled $5,997,123, leading to a net loss from operations of $5,975,981. General and administrative expenses accounted for $4,419,545 of the operating expenses, including significant payroll and professional fees. Research and development expenses were $1,553,360, primarily due to consulting expenses. The company also reported a net loss of $7,623,879 for the quarter. As of June 30, 2024, Aditxt had cash reserves of $91,223 and an accumulated deficit of $150,024,555. The company's financial situation raises substantial doubt about its ability to continue as...Show More
