Wed, Aug 14, 8:30 PM (114 days ago)
OS Therapies Incorporated reported its Q2 2024 financial results, revealing a significant net loss of $3,016.5K, an improvement from $4,352.0K in Q2 2023. Operating expenses decreased to $1,410.0K primarily due to reduced R&D costs, which fell to $758.4K from $1,743.4K in the previous year, reflecting lower vendor expenses related to clinical trials. Cash at the end of Q2 2024 was $94.9K, up from $39.0K at the end of 2023, but liquidity remains a concern as the company relies on external financing for operations. The company’s total liabilities rose to $28.4M, with convertible debt playing a significant role. A key development was the completion of its IPO on August 2, 2024, raising $6.4M, which is expected to enhance cash flow and support ongoing clinical trials for its lead product, OST-HER2. The transition to public company status and the conversion of convertible notes into common stock are anticipated to strengthen the company's financial position moving forward. However, uncertainties remain regarding future capital needs and operational sustainability.