Mon, Jan 13, 1:26 PM (29 days ago)
For the quarter ended November 30, 2024, CNBX Pharmaceuticals Inc. (CNBX) reported a net loss of $34,352, a significant reduction from a loss of $178,523 in the same period of 2023. Total revenues for the quarter were $0, down from $89,437 year-over-year. Operating expenses decreased to $36,837 from $261,337, primarily due to a halt in research operations and reduced general administrative costs. Cash and cash equivalents fell to $17,339 from $81,647 in the prior year, indicating liquidity challenges. Current liabilities increased to $2,536,640, largely driven by a convertible loan and related party debts. The company has raised concerns regarding its ability to continue as a going concern, highlighting the need for additional capital to sustain operations. The management anticipates incurring at least $120,000 in expenses over the next year, stressing the urgency for funding through equity or debt issuance. The outlook remains uncertain, with future operations contingent on effective capital raising and market acceptance of its oncology-focused product pipeline, particularly RCC-33 for colorectal cancer.