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Autonomix Medical Inc. (AMIX+1.19%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing total operating expenses of $2.7 million, compared to $2.9 million in the same quarter the previous year. The decrease is attributed to a reduction in general and administrative expenses.
General and administrative expenses decreased to $1.7 million from $2.2 million in the previous year, primarily due to a reduction in advertising expenses.
Research and development expenses increased to $1.0 million from $0.7 million in the previous year, reflecting ongoing clinical trial and product development efforts.
The company reported a net loss of $2.7 million for the quarter, compared to $3.1 million in the previous year, with the decrease attributed to lower operating expenses.
Cash used in operating activities was $5.7 million for the nine months ended December 31, 2024, compared to $4.4 million in the previous year.
Autonomix had cash and cash equivalents of $11.8 million as of December 31, 2024. The company estimates its current cash resources are sufficient to fund operations into the first calendar quarter of 2026.
The filing also details a reverse stock split of 1-for-20 effective October 24, 2024, and a public offering completed in November 2024, raising gross proceeds of approximately $10.0 million.
The company acknowledges the need to raise additional capital to continue executing its business plan, including obtaining regulatory clearance for its products under development.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Autonomix Medical Inc. quarterly 10-Q report dated February 13, 2025. To report an error, please email earnings@qz.com.