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LadRx Corp (LADX0.00%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's focus on the discovery, research, and clinical development of novel anti-cancer drug candidates. This includes the LADR™ technology platform, which targets chemotherapeutic drugs to solid tumors.
LadRx Corp reported a net loss of $1.6 million for the year ended December 31, 2024, compared to a net income of $400,443 in the previous year. The loss is attributed to ongoing research and development expenses and general administrative costs.
The company has no significant recurring revenue and has relied on capital raising to sustain its operations. As of December 31, 2024, LadRx had cash and cash equivalents of approximately $0.8 million.
LadRx announced plans to seek marketing approval for aldoxorubicin under the FDA's Section 505(b)(2) pathway, which could reduce the regulatory burden by relying on existing data for doxorubicin.
The company has entered into agreements with XOMA for the sale of certain royalty and milestone payments related to aldoxorubicin and arimoclomol, receiving $5 million, with potential additional payments based on future milestones.
LadRx's future plans include completing the work necessary for aldoxorubicin's marketing approval and initiating human clinical trials for LADR-7. The company continues to explore funding and development strategies for its LADR™ platform.
The report also discusses the company's significant risks, including its reliance on third-party manufacturers, competition in the biotechnology industry, and the need for additional funding to continue operations.
LadRx Corp's stock is traded on the OTC Market under the symbol 'LADX'. As of March 28, 2025, there were approximately 190 holders of record of the company's common stock.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the LadRx Corp annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.