Biora Therapeutics reported Q3 2024 financial results with a net loss of $18.4M and operating expenses of $16.3M. The company has made significant progress in developing a smaller 00-size BioJet device, which now offers the largest payload capacity in the ingestible injectables category at over 300 microliters, enabling delivery of up to 50mg doses.The company is shifting strategy from co-development to licensing the 00-size clinical BioJet device, with testing in advanced animal models planned for Q4 2024. Following successful Phase 1 trials of BT-600, Biora is considering proceeding directly to a larger clinical trial in ulcerative colitis patients.Biora received a Nasdaq compliance extension until December 9 and has reduced operating expenses by 40% to under $2.5M monthly. The company is working with noteholders to increase capitalization while exploring strategic alternatives. Testing of collaborators' molecules in primates is expected to begin in early 2025, with completion anticipated during Q1 2025.

Biora Therapeutics reported Q3 2024 financial results with a net loss of $18.4M and operating expenses of $16.3M. The company has made significant progress in developing a smaller 00-size BioJet device, which now offers the largest payload capacity in the ingestible injectables category at over 300 microliters, enabling delivery of up to 50mg doses.The company is shifting strategy from co-development to licensing the 00-size clinical BioJet device, with testing in advanced animal models planned for Q4 2024. Following successful Phase 1 trials of BT-600, Biora is considering proceeding directly to a larger clinical trial in ulcerative colitis patients.Biora received a Nasdaq compliance extension until December 9 and has reduced operating expenses by 40% to under $2.5M monthly. The company is working with noteholders to increase capitalization while exploring strategic alternatives. Testing of collaborators' molecules in primates is expected to begin in early 2025, with completion anticipated during Q1 2025.