Summary by Futu AI
ZyVersa Therapeutics, a clinical stage biopharmaceutical company, has released its annual financial report for the year ended December 31, 2023. The report indicates that the company has faced significant financial challenges, including a substantial working capital deficiency and significant losses. The company's current assets as of December 31, 2023, stood at $3,353,133, a decrease from $6,362,546 in the previous year. The total assets were reported at $22,114,284, down from $118,506,271 in the previous year. ZyVersa incurred a net loss of $98,297,946 for the year ended December 31, 2023, compared to a net loss of $14,047,607 for the period from January 1, 2022, through December 12, 2022. The company's research and development expenses were $3,207,573, and general and administrative expenses were $11,213,201 for the year. The report also highlighted impairments of in-process research and development and...Show More