Wed, Aug 14, 9:05 PM (328 days ago)
AIM ImmunoTech Inc. reported a net loss of $1,836,000 for Q2 2024, a significant reduction from $4,909,000 in Q2 2023, driven by increased interest income and reduced R&D expenses. Total revenues slightly rose to $50,000 from $42,000, mainly from the Ampligen Cost Recovery Program. Operating expenses decreased overall, particularly in R&D, which fell to $1,145,000 from $2,953,000. However, general and administrative expenses increased to $2,591,000, reflecting higher legal and investment banking fees. Cash flow from operating activities was negative at $7,823,000, up from $5,838,000 in 2023, while financing activities generated $5,270,000, bolstered by a note payable and stock sales. As of June 30, 2024, cash and cash equivalents totaled $3,554,000, a decline from $5,439,000 at year-end 2023. AIM continues to focus on clinical trials for Ampligen, with plans for future fundraising to support ongoing operations and development efforts. The company is navigating uncertainties related to regulatory approvals and market conditions, particularly in Argentina, where currency devaluation poses risks.