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BioRestorative Therapies Inc (BRTX-1.08%). has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing outlines the company's ongoing development of its Disc/Spine Program, with its lead product candidate, BRTX-100, aimed at treating chronic lower back pain arising from degenerative disc disease. The company has commenced a Phase 2 clinical trial for BRTX-100.
BioRestorative is also advancing its ThermoStem Program, which involves the use of brown adipose tissue for the treatment of metabolic disorders such as type 2 diabetes and obesity. The company has secured multiple patents related to this program in various jurisdictions.
The company operates a biocosmeceuticals platform, producing a cell-based secretome serum intended for cosmetic use. A supply agreement with Cartessa Aesthetics, LLC was announced for the distribution of this serum.
BioRestorative reported a net loss of $8,979,381 for the year ended December 31, 2024, compared to a net loss of $10,417,704 for the previous year. The company highlighted ongoing financial challenges and the need for additional funding to continue its operations and development programs.
The company's cash and cash equivalents at year-end were $547,890, with investments in marketable securities totaling $10,184,701. BioRestorative's working capital stood at $7,395,815.
BioRestorative continues to seek additional financing through various means, including an at-the-market offering program and potential strategic partnerships.
The filing also notes the company's dependence on regulatory approvals for its product candidates and the potential impact of competition and technological changes on its business.
BioRestorative acknowledges the risks associated with its business, including its limited operating history, ongoing losses, and the need for significant additional capital to achieve its strategic goals.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the BioRestorative Therapies Inc annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.