Thu, May 15, 9:32 PM (59 days ago)
**OCEAN BIOMEDICAL, INC. (OCEA)** **Q1 2025 Financial Summary** **Financial Health:** - **Cash Position:** No cash, $0.8 million in restricted cash, and a $25.1 million working capital deficiency as of March 31, 2025. - **Liabilities:** Total liabilities of $93.9 million, including $26.6 million in current liabilities. - **Stockholders' Deficit:** $92.4 million deficit as of March 31, 2025. **Performance Metrics:** - **Revenue:** No revenue generated. - **Operating Loss:** $8.2 million for Q1 2025, compared to a net income of $12.9 million in Q1 2024. - **Operating Expenses:** $958,000 in Q1 2025, up from $595,000 in Q1 2024. - **Other Income (Expense):** Significant fluctuations due to changes in fair value of financial instruments. **Cash Flow:** - **Operating Activities:** No cash inflows, $356,000 used in operations. - **Financing Activities:** $909,000 in proceeds from short-term loans. **Earnings Changes:** - **Net Loss:** $8.2 million in Q1 2025, primarily due to changes in fair value of financial instruments. - **Earnings Per Share:** $(0.09) for Q1 2025, compared to $0.48 in Q1 2024. **Quarterly Performance Discussion:** - **Operating Expenses:** Increase in general and administrative expenses due to year-end audit and Form 10-K filing. - **Other Income (Expense):** Significant changes due to fair value adjustments of financial instruments. - **Liquidity:** Dependence on additional funding to continue operations. **Trends and Uncertainties:** - **Market Conditions:** Global financial disruptions and macroeconomic factors may affect capital access. - **Funding:** Need for additional capital to fund operations and meet obligations. - **Operational Risks:** Dependence on research and development success and regulatory approvals. **Future Operations Impact:** - **Funding Requirements:** Substantial increase in expenses for preclinical and clinical development. - **Strategic Plans:** Seeking additional financing through private equity, debt, collaborations, and strategic alliances. - **Risk Factors:** High debt levels, potential dilution of stock, and dependence on market conditions. **Ticker:** OCEA **Note:** Amounts are in thousands, 000s.