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ASP Isotopes Inc. (ASPI+11.84%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing revenue of $1,087,695 from the sale of nuclear medical doses for PET scanning. This marks the first period of recognized revenue following the acquisition of a 51% stake in PET Labs Pharmaceuticals.
Cost of goods sold for the quarter was $793,714, resulting in a gross profit of $293,981.
Research and development expenses for the quarter were $1,034,446, reflecting increased personnel-related costs and consulting expenses.
Selling, general, and administrative expenses rose to $4,693,158, driven by higher personnel costs and professional fees.
The company reported a net loss of $7,271,239 for the quarter. This was impacted by a change in fair value of convertible notes payable and share liabilities.
Cash and cash equivalents were $51,571,540 as of September 30, 2024, with net cash provided by financing activities totaling $64,841,207.
The company completed a public offering of 13,800,000 shares in July 2024, raising approximately $32.3 million after expenses.
ASP Isotopes Inc. continues to focus on the development and commercialization of isotopes, with plans to expand production capabilities and explore new markets.
The filing also includes details on the company's strategic initiatives, including the development of quantum enrichment technology and potential future projects in the nuclear fuels segment.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the ASP Isotopes Inc. quarterly 10-Q report dated November 19, 2024. To report an error, please email earnings@qz.com.