Mon, Jul 15, 8:17 PM (54 days ago)
Burzynski Research Institute, Inc.'s Form 10-Q for the quarter ended May 31, 2024, highlights key financial and operational metrics. The company reported a net loss of $371,000, up from $287,000 in the same quarter of 2023, driven by increased research and development costs ($226,000 vs. $182,000) and general and administrative expenses ($145,000 vs. $105,000). Current assets decreased to $997 from $2,310, while current liabilities surged to $128,865 from $27,433. The company remains dependent on funding from Dr. Burzynski’s medical practice, which contributed $58,517 in capital and covered $210,070 in FDA clinical trial expenses. The company's IND 43742 remains under a full clinical hold, preventing new patient enrollment. Future operations hinge on lifting this hold and securing additional funding.