Aditxt, Inc., a biotech innovation company, reported financial results for the quarter ended March 31, 2024. The company generated revenue of $79,680, a decrease from $218,415 in the same period last year. Cost of goods sold was $65,799, resulting in a gross profit of $13,881. Operating expenses totaled $11,549,527, with general and administrative expenses at $3,363,748, research and development costs at $8,145,266, and sales and marketing expenses at $40,513. The company incurred a net loss of $14,868,694 for the quarter. Aditxt's financial situation raises doubt about its ability to continue as a going concern, with an accumulated deficit of $142,575,090 and working capital of $(15,706,647). The company is seeking additional funding to continue operations and clinical trials. Aditxt's obligations to certain creditors are secured by assets, and default could lead to...Show More

Aditxt, Inc., a biotech innovation company, reported financial results for the quarter ended March 31, 2024. The company generated revenue of $79,680, a decrease from $218,415 in the same period last year. Cost of goods sold was $65,799, resulting in a gross profit of $13,881. Operating expenses totaled $11,549,527, with general and administrative expenses at $3,363,748, research and development costs at $8,145,266, and sales and marketing expenses at $40,513. The company incurred a net loss of $14,868,694 for the quarter. Aditxt's financial situation raises doubt about its ability to continue as a going concern, with an accumulated deficit of $142,575,090 and working capital of $(15,706,647). The company is seeking additional funding to continue operations and clinical trials. Aditxt's obligations to certain creditors are secured by assets, and default could lead to foreclosure. The company also faces the risk of being delisted from the Nasdaq Stock Market due to non-compliance with listing requirements. In terms of business development, Aditxt has formed subsidiaries Adimune, Pearsanta, and Adivir to focus on immune modulation therapeutic programs, personalized medicine, and antiviral products, respectively. Future plans include pursuing regulatory approval for AditxtScore assays and expanding the antiviral portfolio.