NAYA Biosciences Inc. (NAYA) reports earnings

The report was filed on November 19, 2024

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NAYA Biosciences, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.

The filing includes financial statements for the quarter, showing an increase in revenue to $1,433,151 from $974,894 in the same quarter the previous year. The increase is attributed to the acquisition of Wisconsin Fertility Institute.

Cost of revenue for the quarter was $988,465, compared to $580,968 in the same quarter of the previous year, reflecting the acquisition's impact.

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Selling, general, and administrative expenses increased to $1,514,593 from $1,257,044, primarily due to the addition of Wisconsin Fertility Institute.

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Net loss for the quarter was $1,630,662, compared to $1,248,440 in the previous year. Loss from equity investments was $27,372, compared to a loss of $8,163 in the previous year.

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Cash used in operating activities was $2,357,021, while cash used in investing activities was $29,239. Cash provided by financing activities was $2,625,427.

NAYA had a working capital deficit of $6,697,977 as of September 30, 2024. The company acknowledges its dependence on raising additional funding to meet its liquidity needs.

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The filing details the company's acquisition of Wisconsin Fertility Institute and the strategic focus on expanding fertility clinic operations.

NAYA completed a merger with Legacy NAYA Therapeutics, Inc., expanding its focus into oncology and autoimmune diseases.

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The company does not anticipate cash dividend payments to common stockholders in the near future.

The filing also discusses the issuance of Series A and Series B Preferred Stock and various financing activities undertaken during the quarter.

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NAYA continues to focus on expanding its fertility clinic operations and leveraging its newly acquired therapeutics to increase patient access to treatments.

This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the NAYA Biosciences Inc. quarterly 10-Q report dated November 19, 2024. To report an error, please email earnings@qz.com.