Tue, Nov 12, 9:02 PM (97 days ago)
Pluri Inc. (PLUR) reported its Q1 2025 results for the period ending September 30, 2024. The company’s revenues increased significantly to $326,000 from $54,000 year-over-year, primarily driven by its Contract Development and Manufacturing Organization (CDMO) and agtech initiatives. Despite this growth, Pluri incurred a net loss of $6,036,000 compared to $5,098,000 in Q1 2024, attributed to higher financial expenses and increased operating costs, particularly in general and administrative expenses. Cash and cash equivalents decreased to $3,198,000 from $6,783,000 at the end of the previous quarter, with a negative cash flow from operations of $4,064,000. Total liabilities rose to $30,922,000, largely due to the European Investment Bank loan, which now stands at $25,365,000. The company’s accumulated deficit reached $426,354,000, reflecting ongoing challenges in achieving profitability. Management anticipates continued reliance on existing cash resources and plans to explore additional funding avenues, including grants and equity sales, to support operations amidst uncertainties stemming from geopolitical tensions in Israel. The company remains focused on expanding its CDMO services and advancing its biotechnology initiatives.