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Pluri Inc. (PLUR-4.63%) has submitted its Form 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing revenues of $511,000 for the six-month period, an increase from $159,000 in the previous year. This increase is attributed to the launch of new business verticals in the CDMO field and a collaboration in the agtech field.
Cost of revenues for the period was $200,000, attributed to manufacturing costs and royalties payable to the European Investment Bank.
Research and development expenses, net of grants, were $5,814,000, a slight decrease from the previous year, due to a reduction in headcount and materials costs.
General and administrative expenses decreased to $4,652,000, primarily due to a decrease in share-based compensation expenses.
Other financial income, net, increased to $1,437,000, mainly due to exchange rate differences related to the EIB loan.
Net loss for the period was $9,146,000, compared to $10,092,000 in the previous year. The decrease is attributed to cost reduction efforts and new business launches.
Pluri reported a working capital surplus of $17,930,000 and total equity deficit of $2,917,000 as of December 31, 2024.
The company continues to seek additional funding through collaborations, grants, and sales of equity securities to support its operations and commercialization efforts.
Pluri has entered into a Securities Purchase Agreement for a private placement offering, raising gross proceeds of $6.5 million, and plans to use the funds for working capital and general corporate purposes.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Pluri Inc. quarterly 10-Q report dated February 11, 2025. To report an error, please email earnings@qz.com.