Aditxt, Inc. has provided a comprehensive update on its financial and operational activities up to June 5, 2024, with financial statements reported as of March 31, 2024. The biotechnology company has been actively engaging in equity transactions, forming subsidiaries such as Adimune, Inc. and Pearsanta, Inc., and executing reverse stock splits in September 2022 and August 2023. Aditxt has also entered into significant license agreements with Loma Linda University and Leland Stanford Junior University for exclusive technology rights. Notably, the company has signed an Equity Line of Credit Purchase Agreement allowing for up to $150 million in common stock sales and has entered into an Arrangement Agreement with Appili Therapeutics, Inc. Financially, Aditxt reported a cash balance of $88,671 and a net loss of $14.9 million for the quarter...Show More

Aditxt, Inc. has provided a comprehensive update on its financial and operational activities up to June 5, 2024, with financial statements reported as of March 31, 2024. The biotechnology company has been actively engaging in equity transactions, forming subsidiaries such as Adimune, Inc. and Pearsanta, Inc., and executing reverse stock splits in September 2022 and August 2023. Aditxt has also entered into significant license agreements with Loma Linda University and Leland Stanford Junior University for exclusive technology rights. Notably, the company has signed an Equity Line of Credit Purchase Agreement allowing for up to $150 million in common stock sales and has entered into an Arrangement Agreement with Appili Therapeutics, Inc. Financially, Aditxt reported a cash balance of $88,671 and a net loss of $14.9 million for the quarter ended March 31, 2024. The company has raised funds through various public offerings, private placements, and the issuance of common stock and warrants. However, Aditxt is facing going concern uncertainty, necessitating additional funding to maintain operations. The company has also reported lease defaults and has engaged Dawson James Securities, Inc. for advisory on potential business combinations. Additional short-term financing has been secured through promissory notes issued to its CEO and Sixth Borough Capital Fund, LP.