Fri, Aug 16, 10:09 AM (151 days ago)
For the second quarter ending June 30, 2024, Coeptis Therapeutics Holdings, Inc. reported a net loss of $3,035,345, a slight improvement from a loss of $3,202,620 in the same period last year. The company generated no revenue, maintaining a focus on product development and capital raising. Total operating expenses decreased to $2,828,102 from $3,684,984, largely due to reduced professional services costs. As of June 30, 2024, cash and cash equivalents rose to $1,555,075 from $1,469,134 at year-end 2023. However, the company has significant liabilities totaling $4,508,480, leading to an accumulated deficit of $93,392,993. The company is heavily reliant on external financing for future operations, reflecting uncertainties in achieving profitability. The ongoing development of CD38-related therapies and strategic partnerships remains critical, with management projecting continued investment in R&D. The company faces risks related to maintaining sufficient liquidity and executing its operational strategies amidst a challenging market environment.