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CERo Therapeutics Holdings, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing details the company's financial position, including total assets of $6,491,997 and liabilities of $10,194,422 as of September 30, 2024. The company reported a stockholders’ deficit of $3,702,425.
Research and development expenses for the quarter were $1,774,210, with general and administrative expenses totaling $2,628,028. The company reported a net loss of $4,227,967 for the quarter.
The company completed a private placement of 2,853 shares of Series C Preferred Stock and warrants to purchase 8,175,166 shares of Common Stock, raising approximately $1.25 million.
The report notes that the FDA placed a clinical hold on CERo Therapeutics' IND for its product candidate CER-1236, which the company is working to address.
The company’s cash and cash equivalents totaled $3,380,204 at the end of the quarter, with net cash used in operating activities amounting to $10,738,473 for the nine months ended September 30, 2024.
The filing highlights the company's ongoing need for additional capital to fund its research and development activities and meet its operational obligations.
CERo Therapeutics is actively exploring options to regain compliance with Nasdaq (NDAQ+0.56%) listing requirements following notices of non-compliance related to its stock price and market value.
The company continues to focus on the development of its CERo therapeutic platform and the potential commercialization of its product candidates, pending regulatory approval.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the CERo Therapeutics Holdings Inc. quarterly 10-Q report dated November 19, 2024. To report an error, please email earnings@qz.com.