Fri, Nov 8, 9:55 PM (70 days ago)
For the quarter ending September 30, 2024, Creative Medical Technology Holdings, Inc. (CELZ) reported no revenue, a significant decline from $6,000 in Q3 2023. Operating expenses decreased to $1,109,674 from $1,546,785, driven by reduced research and development costs, particularly in general research. The net loss narrowed to $1,040,135 compared to a loss of $1,453,952 in the prior year, indicating improved expense management. Cash flow from operations showed a reduction in cash used, totaling $3,351,756, down 45% year-over-year. As of September 30, 2024, the company held $6,260,438 in cash, reflecting a decrease in overall working capital from $9,899,504 at year-end 2023. The firm continues to invest in clinical trials, including those for Type 1 Diabetes and chronic lower back pain, which may impact future revenues positively. However, uncertainties remain regarding product commercialization and market competition, particularly in the biotechnology sector. The company is also navigating challenges related to capital raising in a fluctuating economic environment.