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Ainos Inc. (AIMD+3.25%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's focus on developing novel point-of-care testing (POCT) and therapeutics based on very low-dose interferon alpha (VELDONA). The company has pivoted away from COVID-19 antigen test kits, which were the main source of revenue in 2023, towards VELDONA Pet supplements and VOC POCT technologies.
The report highlights the company's financial performance, revealing a net loss of $14,863,161 for 2024, compared to a net loss of $13,770,549 in 2023. The increase in net loss is attributed to higher research and development expenses.
Ainos reported $20,729 in revenues for 2024, primarily from the sale of VELDONA Pet supplements, a decrease from $122,112 in 2023. The decline is due to lower sales of COVID-19 antigen test kits.
The company has outlined its liquidity plan, stating that it will rely on cash reserves, business revenues, and potential financing to fund operations over the next twelve months. As of December 31, 2024, Ainos had cash and cash equivalents of $3,892,919.
Ainos has engaged in several financing activities, including a Convertible Note and Warrant Purchase Agreement with ASE Test, Inc. for $9,000,000 and the retirement of senior secured convertible debt with Lind Global Fund II LP.
The company has also entered into a patent license agreement with Taiwan Carbon Nano Technology Corporation (TCNT) to bolster its AI Nose and POCT technologies.
Ainos continues to focus on its product pipeline, including the development of VOC POCTs and VELDONA human therapeutics, with clinical trials planned for 2025.
The filing also addresses compliance with Nasdaq listing requirements, noting a deficiency notice received for not meeting the $1.00 minimum bid price requirement, with an extension granted until July 14, 2025, to regain compliance.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Ainos Inc. annual 10-K report dated March 7, 2025. To report an error, please email earnings@qz.com.