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Coeptis Therapeutics Holdings Inc. (COEP-0.64%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements showing a net loss of $10,877,412 for the year, compared to a net loss of $21,266,537 in the previous year. The decrease in net loss is attributed to reduced research and development expenses.
Operating expenses for the year were $10,054,488, down from $21,491,125 in 2023, primarily due to lower professional services expenses and research and development costs.
The company reported no revenue for the year, consistent with its focus on research and development activities.
Coeptis completed a series A preferred stock offering, raising $4.3 million in June 2024, with additional closings bringing the total to $6.5 million by year-end.
The company entered into a Standby Equity Purchase Agreement with Yorkville, allowing for the sale of up to $20 million in common stock, with a $1,304,758 convertible note issued in connection with the agreement.
Coeptis continues to develop its product pipeline, including the CD38-GEAR-NK and CD38-Diagnostic assets, with a focus on oncology and diagnostic applications.
The company maintains a going concern qualification due to its accumulated deficit and ongoing net losses, with plans to raise additional capital to support operations.
Coeptis holds investments in privately held companies valued at $5.7 million, acquired through the satisfaction of subscription receivables.
The company has entered into various licensing and collaboration agreements to support its product development efforts, including an expanded agreement with the University of Pittsburgh for its SNAP-CAR technology.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Coeptis Therapeutics Holdings Inc. annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.