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Creative Medical Technology Holdings, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing no revenues for the three-month period, compared to $6,000 in the same quarter the previous year.
Operating expenses for the quarter included research and development costs of $581,796, down from $992,272 in the previous year, primarily due to decreased general research and development expenses.
Selling, general, and administrative expenses were $498,607, compared to $531,042 in the previous year, with decreases in marketing and insurance costs.
The company reported an operating loss of $1,109,674 for the quarter, compared to $1,546,785 in the previous year.
Net loss for the quarter was $1,040,135, compared to $1,453,952 in the previous year, with the decrease attributed to reduced operating expenses.
For the nine-month period ended September 30, 2024, the company reported revenues of $8,000, up from $6,000 in the previous year.
Research and development expenses for the nine-month period totaled $1,928,937, up from $1,621,231 in the previous year, due to increased costs associated with clinical trials.
The company had a cash balance of $6,260,438 as of September 30, 2024, with net cash used in operating activities totaling $3,351,756 for the nine-month period.
Creative Medical Technology Holdings continues to focus on its biotechnology developments, including its ImmCelz platform and various clinical trials, despite the ongoing financial losses.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Creative Medical Technology Holdings Inc. quarterly 10-Q report dated November 8, 2024. To report an error, please email earnings@qz.com.