Thu, Aug 29, 8:49 PM (138 days ago)
Silexion Therapeutics Corp reported significant financial metrics for the quarter ending June 30, 2024, reflecting ongoing operational challenges. The company incurred a net loss of $2.9 million, slightly higher than the $2.6 million loss in the same period last year. Research and development expenses decreased by 10.5% to $1.7 million, while general and administrative expenses surged by 200% to $0.9 million, indicating increased operational costs. Cash and cash equivalents stood at $1.7 million, down from $4.6 million at the beginning of the period, raising concerns about liquidity and the ability to fund future operations. The company's accumulated deficit reached $29.7 million, and it continues to rely on external financing for operations, with substantial doubt about its ability to sustain operations without additional capital. The completion of a business combination with Moringa Acquisition Corp and the associated PIPE financing of $2 million may provide temporary relief, but ongoing losses and cash flow challenges remain significant uncertainties for future performance. The company must navigate these financial pressures while advancing its clinical programs focused on KRAS-driven cancers.