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BriaCell Therapeutics Corp. (BCTX+2.64%) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing includes financial statements for the quarter, showing a decrease in research, development, and clinical trial expenses to $5,684,777 from $8,257,455 in the same quarter the previous year. This reduction was primarily driven by lower clinical trial sites and investigational drug costs.
General and administrative expenses for the quarter were $1,484,666, compared to $1,571,991 in the previous year, reflecting operational efficiencies.
The company reported an operating loss of $7,169,443 for the quarter, compared to $9,829,446 in the previous year.
A gain of $806,841 was recorded from the change in fair value of the warrant liability, compared to a loss of $1,567,747 in the previous year.
Net loss for the quarter was $6,337,828, down from $11,333,910 in the previous year. The decrease in net loss was primarily driven by the reduction in research, development, and clinical trial expenses.
Cash used in operating activities was $12,875,298, while cash provided by financing activities was $17,176,863.
BriaCell had total assets of $9,363,567 as of January 31, 2025, with a positive working capital of $1,931,735.
The filing also details various financial activities, including the issuance of common shares and warrants in connection with multiple offerings completed during the period.
BriaCell continues to focus on advancing its Bria-IMT™ targeted immunotherapy in combination with an immune checkpoint inhibitor in a pivotal Phase 3 study in metastatic breast cancer.
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 March 12, 2025. To report an error, please email earnings@qz.com.