Summary by Moomoo AI
Aditxt Inc. reported significant revenue decline for Q3 2024, with sales dropping to $6,854 from $124,486 in Q3 2023, primarily due to decreased COVID testing demand. The company posted a net loss of $6.98 million for the quarter, compared to $9.75 million in the same period last year. Operating expenses decreased to $4.24 million from $8.11 million, driven by reduced research and development spending and lower compensation costs.The company's financial position remains challenging with cash balance of $328,596 as of September 30, 2024. Total current liabilities stood at $24.37 million, including $14.59 million in accounts payable and accrued expenses. Management acknowledged substantial doubt about the company's ability to continue as a going concern, citing the need for significant additional capital to fund operations.To address capital needs, Aditxt has undertaken several financing...Show More
Comment(0)
Reason For Report