Mon, Jul 15, 2:59 PM (54 days ago)
CNBX Pharmaceuticals Inc.'s Form 10-Q for the quarter ended May 31, 2024, highlights a significant decline in revenues to $130,074 from $310,165 year-over-year. Operating expenses also decreased to $660,680 from $1,080,046, largely due to reduced research and development and general administrative costs. The net loss narrowed to $634,614 from $3,136,680, driven by lower capital losses and operating expenses. Cash and cash equivalents fell to $73,406 from $129,696, reflecting higher operational cash outflows. The company's going concern status remains uncertain due to ongoing losses and limited cash reserves, necessitating additional financing to sustain operations.