Summary by Moomoo AI
Virax Biolabs reported Q2 FY2025 financial results with revenue of $4,953, down from $76,500 in the same period last year, and a net loss of $2.8M. Operating expenses increased to $2.9M, primarily due to R&D costs of $726,412 and G&A expenses of $2.1M.The company strengthened its financial position through multiple capital raises, including a $5.1M registered direct offering of 1.1M shares at $4.50 per share in August 2024, and $787K from warrant exercises. Cash position improved to $7.3M as of September 30, 2024, up from $3.6M at March 31, 2024.Virax continues to focus on developing ViraxImmune, its T-cell diagnostic platform for viral diseases, while reducing emphasis on its ViraxClear and ViraxVet test kit distribution business. The company expanded its lab space at BioCity through multiple lease modifications and maintains sufficient working capital for operations over the next 12 months.
