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Propanc Biopharma Inc (PPCBD0.00%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing no revenue as the company continues its research and development activities. The company focuses on developing new cancer treatments targeting high-risk patients.
Administrative expenses for the quarter were reported at $153,593, a decrease from $318,185 in the same quarter the previous year. This reduction is attributed to lower consulting, legal, and employee remuneration expenses.
Research and development expenses for the quarter decreased to $54,388 from $114,022 in the previous year. The decrease is related to cost-cutting measures due to limited working capital.
The company reported a net loss of $430,183 for the quarter, compared to a net loss of $584,384 in the previous year. The decrease in net loss is primarily due to reduced operating expenses.
Interest expense for the quarter was $118,943, down from $264,462 in the previous year, primarily due to decreased amortization of debt discounts.
The company had a working capital deficit of $4,136,980 as of December 31, 2024, and acknowledges its dependence on future financing to continue operations.
Propanc Biopharma continues to focus on advancing its lead product candidate, PRP, through various stages of development, with ongoing efforts to secure additional funding.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Propanc Biopharma Inc quarterly 10-Q report dated February 14, 2025. To report an error, please email earnings@qz.com.