Wed, May 15, 10:31 AM (232 days ago)
Qrons Inc. reported a net loss of $42,616 for Q1 2024, an improvement from a net loss of $68,458 in Q1 2023. Operating expenses increased to $86,374 from $36,942 due to higher research and development costs driven by stock-based compensation. General and administrative expenses also rose. Other income was $43,758, primarily due to a gain from changes in derivative liabilities, offset by interest expenses. Cash used in operations was $19,283, funded by $22,500 in related party advances. The company’s cash balance was $3,637, raising substantial doubt about its ability to continue as a going concern without additional financing. Qrons continues to seek strategic partnerships and financing to support its biotech initiatives.