Aditxt, Inc., a biotech company specializing in immune modulation therapy and diagnostics, reported financial results for the quarter ended June 30, 2024. The company generated revenue of $44,276, a decrease from $220,978 in the same period last year. Cost of goods sold was $23,134, resulting in a gross profit of $21,142. Operating expenses totaled $5,997,123, leading to a net loss from operations of $5,975,981. General and administrative expenses accounted for $4,419,545 of the operating expenses, including significant payroll and professional fees. Research and development expenses were $1,553,360, primarily due to consulting expenses. The company also reported a net loss of $7,623,879 for the quarter. As of June 30, 2024, Aditxt had cash reserves of $91,223 and an accumulated deficit of $150,024,555. The company's financial situation raises substantial doubt about its ability to continue as...Show More

Aditxt, Inc., a biotech company specializing in immune modulation therapy and diagnostics, reported financial results for the quarter ended June 30, 2024. The company generated revenue of $44,276, a decrease from $220,978 in the same period last year. Cost of goods sold was $23,134, resulting in a gross profit of $21,142. Operating expenses totaled $5,997,123, leading to a net loss from operations of $5,975,981. General and administrative expenses accounted for $4,419,545 of the operating expenses, including significant payroll and professional fees. Research and development expenses were $1,553,360, primarily due to consulting expenses. The company also reported a net loss of $7,623,879 for the quarter. As of June 30, 2024, Aditxt had cash reserves of $91,223 and an accumulated deficit of $150,024,555. The company's financial situation raises substantial doubt about its ability to continue as a going concern. Aditxt's business development includes the acquisition of MDNA's Mitomic Technology Platform and ongoing efforts to integrate these assets. The company is also pursuing clinical studies targeting autoimmune diseases and has entered into agreements with Mayo Clinic. For future plans, Aditxt is focused on completing product development, manufacturing, and clinical validation of its acquired technologies, as well as seeking additional funding to support its operations and clinical trials.