Wed, May 15, 8:14 PM (220 days ago)
TC Biopharm (Holdings) PLC's Q1 2024 report shows a decline in financial health. The company reported a net loss of £3.3 million, a significant increase from the £0.6 million loss in Q1 2023. Cash and cash equivalents dropped to £1.0 million from £2.5 million at year-end 2023. Operating expenses decreased by 17.4% to £3.4 million, driven by reduced R&D and administrative costs. R&D expenses fell 32.8% to £1.3 million due to a strategic refocus and reduced personnel. Administrative expenses decreased slightly by 4% to £2.1 million. The company raised £0.9 million through financing activities but expects to need additional funding to continue operations beyond July 2024. The report highlights the company's ongoing liquidity challenges and substantial doubt about its ability to continue as a going concern.