Tue, May 20, 9:04 PM (33 days ago)
**Lomond Therapeutics Holdings, Inc. (LOMO) Q1 2025 Financial Summary** Lomond Therapeutics Holdings, Inc. (LOMO) reported a net loss of $6.2 million for the first quarter of 2025, compared to a net loss of $0.2 million in the same period last year. The company's total operating expenses increased significantly, reaching $6.5 million, up from $0.2 million in Q1 2024. This surge was primarily driven by a substantial rise in research and development (R&D) expenses, which soared to $5.2 million, a 6,590% increase year-over-year. General and administrative expenses also saw a notable rise, increasing by 848% to $1.4 million. The company's cash position improved, with cash and cash equivalents totaling $37.6 million as of March 31, 2025, up from $28.4 million at the end of 2024. This increase was partly due to the issuance of common stock, which raised $20 million in financing activities. However, the company also invested $10.1 million in short-term investments, leading to a net increase in cash and cash equivalents of $9.2 million for the quarter. Lomond Therapeutics continues to focus on developing its product candidates, including lomonitinib and lonitoclax, for the treatment of acute myeloid leukemia (AML). The company has incurred significant operating losses since its inception and does not yet have any approved products. It relies on funding from equity offerings, debt financings, or other capital sources to support its operations and growth strategy. The company's future operations and financial performance are subject to various risks and uncertainties, including the success of its clinical trials, regulatory approvals, market acceptance of its products, and its ability to raise additional capital. Despite these challenges, Lomond Therapeutics remains committed to advancing its product candidates and achieving its strategic goals.