Mon, Aug 19, 10:31 AM (148 days ago)
For the quarter ending June 30, 2024, TNF Pharmaceuticals, Inc. reported significant financial challenges, reflecting a net loss of $9,565,648, compared to a loss of $4,167,653 in the same quarter of 2023. The company's total operating expenses decreased to $3,369,645 from $5,781,632, driven by reductions in administrative and research and development costs. Notably, cash flow from operations was negative at $4,580,551, emphasizing ongoing financial strain. The firm held $536,026 in cash and $12,530,326 in marketable securities, with total assets of $26,382,074, significantly up from $17,862,270 at year-end 2023, primarily due to new equity financing. However, liabilities surged to $25,999,781, reflecting increased derivative and warrant liabilities, which totaled $19,291,000. The company is focused on advancing its drug candidates, MYMD-1 and Supera-CBD, but faces uncertainties regarding regulatory approvals and market acceptance. Future operations may be impacted by the need for additional funding, which could dilute existing shareholders due to the terms of recent preferred stock issuances and warrant adjustments.