NANO Nuclear Energy Inc. reported financial results for Q2 2024 ended March 31. The company, still in pre-revenue stage, saw research and development expenses decrease 26% year-over-year to $290,539, primarily due to lower R&D equity-based compensation. General and administrative expenses rose 26% to $1,423,309, reflecting increased office and staff costs to support R&D activities.Net loss for the quarter was $1,677,628, compared to $1,520,434 in Q2 2023. The company's cash position stood at $5,955,028 as of March 31, 2024. NANO Nuclear Energy is developing two advanced nuclear microreactors, ZEUS and ODIN, with estimated expenditures of $4 million over the next 12 months for R&D and administrative costs.The company is progressing on multiple fronts, including microreactor development, fuel fabrication facility design, and fuel transportation solutions. NANO Nuclear Energy aims to commercially launch a microreactor by 2030, pending regulatory approvals. The company also plans to enter the nuclear consultation services market by the end of 2024, either through acquisition or by building an internal capability.

NANO Nuclear Energy Inc. reported financial results for Q2 2024 ended March 31. The company, still in pre-revenue stage, saw research and development expenses decrease 26% year-over-year to $290,539, primarily due to lower R&D equity-based compensation. General and administrative expenses rose 26% to $1,423,309, reflecting increased office and staff costs to support R&D activities.Net loss for the quarter was $1,677,628, compared to $1,520,434 in Q2 2023. The company's cash position stood at $5,955,028 as of March 31, 2024. NANO Nuclear Energy is developing two advanced nuclear microreactors, ZEUS and ODIN, with estimated expenditures of $4 million over the next 12 months for R&D and administrative costs.The company is progressing on multiple fronts, including microreactor development, fuel fabrication facility design, and fuel transportation solutions. NANO Nuclear Energy aims to commercially launch a microreactor by 2030, pending regulatory approvals. The company also plans to enter the nuclear consultation services market by the end of 2024, either through acquisition or by building an internal capability.