Thu, Nov 14, 9:09 PM (247 days ago)
PDS Biotechnology Corporation (PDSB) reported its Q3 2024 results, revealing ongoing financial challenges typical for a clinical-stage biotech firm. As of September 30, 2024, the company had $49.8 million in cash and equivalents, down from $56.6 million at year-end 2023, primarily due to net losses of $10.7 million for the quarter and $29.7 million for the nine months ended September 30, 2024. Operating expenses decreased 3% year-over-year to $10.2 million, driven by reduced general and administrative costs, though research and development expenses rose slightly by 6%. The company remains in a loss position with no revenue generation anticipated in the near term, relying on equity and debt financing to fund operations. PDSB's accumulated deficit reached $174.2 million, raising concerns about its ability to continue as a going concern without additional financing. The firm has entered into a new sales agreement to raise up to $50 million and has ongoing clinical trials for its immunotherapy candidates, which may impact future operational viability. The completion of clinical trials and regulatory approvals remains critical for potential revenue generation.