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Harvard Apparatus Regenerative Technology Inc. (HRGN-6.25%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's ongoing clinical-stage biotechnology efforts focused on regenerative medicine treatments for gastro-intestinal disorders and other organ-related conditions. The company highlights its technology platform based on a proprietary cell-therapy method using a patient's own stem cells.
During 2024, Harvard Apparatus Regenerative Technology reported product revenue of $430,000, primarily from its consumer health products launched in Asia. This represents an increase from $103,000 in 2023.
Research and development expenses decreased to $2.3 million from $3.1 million in the previous year, reflecting adjustments in clinical trial activities. The company continues to focus on advancing its esophageal implant through clinical trials.
General and administrative expenses were $5.0 million, down from $5.7 million in 2023, attributed to reduced share-based compensation expenses.
Net loss for the year was reported at $7.7 million, compared to $8.9 million in 2023. The company continues to seek additional financing to support its operations beyond the second quarter of 2025.
The filing also discusses the company's strategic collaborations with medical and research institutions to enhance product development and market awareness.
Harvard Apparatus Regenerative Technology acknowledges the challenges in patient recruitment for its clinical trials and is actively working to mitigate these issues.
The company remains focused on expanding its presence in international markets, including potential regulatory pathways in China and Europe.
The filing includes a discussion of risks related to regulatory approvals, market acceptance, and competition in the regenerative medicine and consumer health sectors.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Harvard Apparatus Regenerative Technology Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.