Mon, Jan 13, 9:16 PM (32 days ago)
Burzynski Research Institute, Inc. (BZYR) reported its financial results for the quarter ended November 30, 2024, showing a net loss of $352,239, a decrease from $433,015 in the same quarter of 2023. Operating expenses totaled $352,239, with research and development costs rising by 38% to $301,183 due to increased personnel and facility costs. General and administrative expenses dropped significantly by 76% to $51,056, reflecting reduced professional fees. For the nine months ended November 30, 2024, the net loss increased to $1,093,409 compared to $972,524 in 2023, driven by higher research costs. The company’s total assets decreased from $2,310,000 to $713,000, while liabilities rose to $22,039,000, indicating ongoing financial strain. Cash and cash equivalents at the end of the period were $613,000, down from $1,310,000. The company remains economically dependent on funding from Dr. S.R. Burzynski, which is critical for ongoing clinical trials, currently under FDA hold. Future operations hinge on securing additional funding or lifting the clinical hold, with no assurance of achieving positive cash flow.