In This Story
Pure Bioscience Inc (PURE+26.93%). has submitted its 10-Q filing for the quarterly period ended October 31, 2024.
The filing includes financial statements for the quarter, showing net product sales of $555,000, a decrease from $718,000 in the same quarter the previous year. The decrease is attributed to reduced sales across the end user customer base.
Cost of goods sold for the quarter was $231,000, compared to $280,000 in the previous year. Gross margin percentage decreased to 58% from 61% due to the sale of higher packaging configurations.
Selling, general, and administrative expenses were $881,000, down from $1,073,000, primarily due to decreased personnel costs and facilities expenses.
Research and development expenses were $71,000, compared to $80,000 in the previous year.
Interest expense increased to $62,000 from $24,000, due to accrued interest on convertible notes payable to related parties.
The company reported a net loss of $689,000 for the quarter, compared to a net loss of $735,000 in the previous year.
Cash and cash equivalents as of October 31, 2024, were $421,000. The company used $503,000 in operating activities during the quarter.
Pure Bioscience has a stockholders' deficiency of $3,496,000 as of October 31, 2024, and continues to face substantial doubt regarding its ability to continue as a going concern.
The company highlights its strategy to grow and support its distribution network, develop additional proprietary products, and protect its intellectual property.
The filing also details convertible note agreements with related parties, including terms and conversion options, and recent share-based compensation activities.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Pure Bioscience Inc quarterly 10-Q report dated December 16, 2024. To report an error, please email earnings@qz.com.