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Kairos Pharma, Ltd. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing a net loss of $1,047,000 for the three months ended September 30, 2024, compared to a net loss of $312,000 in the same quarter the previous year.
Operating expenses for the quarter were $383,000, with research and development expenses at $14,000 and general and administrative expenses at $369,000.
Other expenses for the quarter included $12,000 in interest expense, $537,000 in financing costs, and $115,000 in debt discount amortization.
For the nine months ended September 30, 2024, the company reported a net loss of $1,623,000, compared to $694,000 for the same period in 2023.
Research and development expenses for the nine months were $242,000, up from $75,000 in the previous year, primarily due to expenses related to the Phase 2 clinical trial for ENV 105.
General and administrative expenses for the nine months were $655,000, compared to $550,000 in the previous year, with no significant changes between periods.
The company completed its initial public offering (IPO) during the nine months ended September 30, 2024, raising $5,524,000 in net proceeds.
Cash provided by operating activities was negative $2,152,000, while cash provided by financing activities was $5,276,000 for the nine months ended September 30, 2024.
Kairos had a cash balance of $3,217,000 as of September 30, 2024, with expectations that this will last into the fourth quarter of 2025.
The filing details various agreements and commitments, including a master service agreement with Prevail Infoworks, Inc. and a bioassay services agreement with PreCheck Health Services, Inc.
The company continues to focus on advancing its product candidates through clinical trials and expects to incur significant expenses related to these activities.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Kairos Pharma Ltd. quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.