On August 12, 2024, Biora Therapeutics, Inc. announced its financial results for the second quarter ended June 30, 2024. The company reported a net income of $6.5 million, a significant improvement from a net loss of $17.8 million in the same period the previous year. This positive outcome included non-cash items of $22.8 million due to the change in fair value of warrant and derivative liabilities. Operating expenses remained consistent at $16.1 million for the quarter, with non-cash stock-based compensation expenses of $1.6 million. The company also highlighted the completion of a Phase 1 clinical trial for BT-600, which met all trial objectives, demonstrating precise drug delivery to the colon with limited systemic exposure. Biora Therapeutics secured up to $16 million in funding from existing investors, reflecting institutional...Show More

On August 12, 2024, Biora Therapeutics, Inc. announced its financial results for the second quarter ended June 30, 2024. The company reported a net income of $6.5 million, a significant improvement from a net loss of $17.8 million in the same period the previous year. This positive outcome included non-cash items of $22.8 million due to the change in fair value of warrant and derivative liabilities. Operating expenses remained consistent at $16.1 million for the quarter, with non-cash stock-based compensation expenses of $1.6 million. The company also highlighted the completion of a Phase 1 clinical trial for BT-600, which met all trial objectives, demonstrating precise drug delivery to the colon with limited systemic exposure. Biora Therapeutics secured up to $16 million in funding from existing investors, reflecting institutional support for its programs. The company is in active partnership discussions for its BioJet platform and anticipates concluding at least one agreement in the near term. Biora Therapeutics specializes in smart pill-based therapeutics platforms, focusing on the NaviCap platform for colon-targeted treatment of IBD and the BioJet platform for oral delivery of large molecules.