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BriaCell Therapeutics Corp. (BCTX-1.30%) has submitted its 10-Q filing for the quarterly period ended October 31, 2024.
The filing includes financial statements for the quarter, showing total assets of $10,414,330 and a positive working capital of $3,230,459. The company reported an accumulated deficit of $91,245,872.
Operating expenses for the quarter totaled $5,152,832, with research and development expenses amounting to $3,665,341 and general and administrative expenses at $1,487,491.
Net financial income for the quarter was $11,714, down from $179,822 in the previous year. The decrease is attributed to lower interest income.
The company reported a net loss of $5,829,276 for the quarter, compared to a net income of $5,958,872 in the previous year. The loss is primarily due to a change in the fair value of the warrant liability.
BriaCell continues to focus on its pivotal Phase 3 study in metastatic breast cancer, with 35 clinical sites active and enrolling patients. The study aims to compare overall survival in patients treated with the Bria-IMT™ combination regimen.
Cash and cash equivalents increased by $4,930,176 during the quarter, primarily due to financing activities that raised $11,960,252.
The company acknowledges the uncertainty of its ability to raise financial capital and continue as a going concern. It plans to explore additional sources of capital and manage existing working capital resources.
BriaCell does not anticipate any unregistered sales of equity securities during the quarter.
The company reported no material changes to its risk factors or critical accounting policies from its previous annual report.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the BriaCell Therapeutics Corp. quarterly 10-Q report dated December 16, 2024. To report an error, please email earnings@qz.com.