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Bioxytran Inc (BIXT-1.38%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details Bioxytran's focus on developing therapeutic drugs to address hypoxia in humans, with its lead drug candidate, BXT-25, targeting hypoxic conditions in the brain resulting from stroke.
The company reported a net loss of $2,366,681 for the year, compared to a net loss of $4,472,525 in the previous year. The decrease in net loss is attributed to reduced research and development activities due to lack of funding.
Bioxytran's accumulated deficit was $18,921,168 as of December 31, 2024, up from $15,699,327 at the end of the previous year.
The company raised $63,000 through private placements during the year, compared to $550,361 raised in 2023.
Bioxytran's cash balance at the end of 2024 was $5,154, down from $26,086 at the end of 2023.
The company acquired NDPD Pharma, Inc., an affiliate, issuing shares of Preferred Stock valued at $12,169,884 and shares of Common Stock valued at $289,774 as consideration.
Bioxytran's management plans to seek additional capital through private placements and public offerings to continue its operations and drug development efforts.
The company acknowledges substantial doubt about its ability to continue as a going concern due to limited resources and operating history.
Bioxytran's stock is quoted under the symbol 'BIXT' on the OTCQB market, with a last reported sale price of $0.14894 per share on April 2, 2025.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Bioxytran Inc annual 10-K report dated April 3, 2025. To report an error, please email earnings@qz.com.