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TNF Pharmaceuticals, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing a net loss attributable to stockholders of $24,025,339 for the nine months ended September 30, 2024. As of September 30, 2024, the company had working capital of $5,038,212 and stockholders’ equity of $16,777,343.
General and administrative expenses for the quarter were $1,104,130, a decrease from $1,334,690 in the same quarter of the previous year, due to reduced personnel costs.
Research and development expenses for the quarter were $707,747, down from $1,912,322 in the previous year, primarily due to the completion of the Phase II study for Sarcopenia.
Stock-based compensation expenses decreased significantly to $13,762 from $595,576 in the previous year, attributed to the accelerated vesting of stock options in the prior year.
Other income and expenses resulted in a net expense of $103,752 for the quarter, compared to a net income of $7,885,582 in the previous year, influenced by changes in fair value of warrant liabilities and derivative liabilities.
Cash flows used in operating activities were $8,212,233 for the nine months ended September 30, 2024, primarily due to the net loss and changes in working capital.
The company raised $12,487,399 through private placements of Series F-1 and Series G Preferred Stock during the nine months ended September 30, 2024.
The filing details various financial agreements, including amendments to the terms of Series F, F-1, and G Preferred Stock and associated warrants, impacting conversion prices and exercise prices.
The company continues to focus on developing its MYMD-1 and Supera-CBD therapeutic platforms, with ongoing research and development activities highlighted in the filing.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the TNF Pharmaceuticals Inc. quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.