Fri, Mar 28, 10:35 AM (30 days ago)
### Summary of LadRx Corporation (LADX) 2024 Annual Report **Financial Performance:** - **Revenue:** $0 for both 2024 and 2023. - **Net Income:** A net loss of $1.6 million for 2024 and a net income of $400,443 for 2023. - **Operating Expenses:** Total operating expenses were $3.6 million for 2024 and $3.8 million for 2023. - **Earnings per Share:** Basic and diluted net loss per share was $3.21 for 2024 and $0.68 for 2023. **Strategic Overview:** - **LADR Technology:** Focuses on targeting chemotherapeutic drugs to solid tumors, reducing off-target toxicities. - **Aldoxorubicin:** A lead drug candidate with Orphan Drug Designation for treating soft tissue sarcoma, ovarian cancer, pancreatic cancer, and non-small cell lung cancer. - **LADR 7-10:** Next-generation drugs with completed IND-enabling work, including in-silico modeling and in-vitro efficacy testing. - **ACDx:** A companion diagnostic to identify patients likely to benefit from LADR treatments. **Future Outlook:** - **Aldoxorubicin:** Plans to seek marketing approval under the FDA’s Section 505(b)(2) pathway, with an estimated $5.5 million in additional funding needed. - **LADR 7:** Plans to initiate Phase IA studies in human subjects within 6 months of securing additional funding. - **Partnerships:** Seeking strategic alliances or additional financing for the development of LADR drug candidates. **Risk Factors:** - **Financial:** Operating at a loss, dependence on capital raising, and substantial doubt about the ability to continue as a going concern. - **Regulatory:** Lengthy and unpredictable regulatory approval processes, potential delays, and the need for additional clinical trials. - **Competitive:** Intense competition from major pharmaceutical and biotechnology companies. - **Operational:** Dependence on third-party manufacturers, potential supply chain disruptions, and the need for additional technologies or products. **Financial Condition:** - **Cash and Cash Equivalents:** $759,742 as of December 31, 2024. - **Total Assets:** $839,512 as of December 31, 2024. - **Total Liabilities:** $2,258,941 as of December 31, 2024. - **Stockholders’ Equity:** A deficit of $1,419,429 as of December 31, 2024. **Market Position Changes:** - **Stock Performance:** The stock has experienced volatility, with high and low prices reflecting market conditions and company developments. - **Market Capitalization:** Approximately $1.3 million as of June 30, 2024, based on the closing price of the common stock. **Amendments:** - **10-K/A:** No significant amendments noted in the provided text.