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Creative Medical Technology Holdings Inc. (CELZ-6.36%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's focus on developing biotechnology solutions in fields such as immunotherapy, endocrinology, urology, neurology, and orthopedics. The company's platforms include ImmCelz, StemSpine, and AlloCelz, which are aimed at treating various conditions using stem cell technologies.
The company reported a net loss of $5.5 million for the year, compared to a loss of $5.3 million in the prior year. Revenues for the year were $11,000, up from $9,000 in the previous year, primarily from sales of CaverStem kits.
Research and development expenses increased to $2.4 million from $2.0 million, reflecting ongoing clinical trials and development of new cell lines in collaboration with Greenstone Biosciences.
The company received FDA clearance for a Phase I/II clinical trial for its AlloStemSpine treatment for chronic lower back pain and initiated patient recruitment in 2023.
In October 2024, the company conducted a registered direct offering, raising approximately $1.6 million through the sale of common stock and warrants.
As of December 31, 2024, Creative Medical Technology Holdings reported $5.9 million in cash and short-term investments, with a working capital of approximately $5.8 million.
The company continues to explore partnerships and collaborations to advance its clinical programs and expand its product offerings in the biotechnology sector.
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. annual 10-K report dated March 14, 2025. To report an error, please email earnings@qz.com.