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Aditxt Inc. (ADTX-11.98%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details a net loss of $35,020,058 for the year, an increase from the previous year's net loss of $32,390,447. The company attributes this increase to continued investment in research and development.
Revenue for the year was $133,985, a decrease from $645,176 in the previous year, primarily due to reduced sales of AditxtScore products.
General and administrative expenses totaled $16,286,216, down from $18,607,142 the previous year, reflecting cost-cutting measures.
Research and development expenses increased to $10,886,130 from $7,074,339, as the company continued to invest in its product pipeline.
The company reported a working capital deficit of $21,407,282 as of December 31, 2024, and highlighted the need for additional capital to continue operations and fund clinical trials.
Aditxt's cash position at the end of the year was $833,031, compared to $97,102 at the end of the previous year.
The company has entered into multiple financing agreements throughout the year to support its operations, including the issuance of convertible preferred stock and warrants.
Aditxt's management acknowledges the company's dependence on securing additional funding to meet its financial obligations and continue its business operations.
The filing also notes the company's ongoing efforts to expand its product offerings and pursue strategic acquisitions to enhance its market position.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Aditxt Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.