PainReform reported a net loss of $12.8M for H1 2024, compared to $4.5M in H1 2023, primarily due to increased Phase 3 trial expenses. Research and development costs rose to $11.4M from $2.7M, while general and administrative expenses decreased to $1.5M from $2.0M. The company has enrolled over 200 patients across eight U.S. clinical sites for its PRF-110 post-operative pain treatment trial.The company raised $4.0M through a public offering in April 2024, but management indicates current funds will only support operations through Q4 2024. With cash and cash equivalents of $2.8M as of June 30, 2024, and negative working capital of $1.9M, PainReform faces substantial doubt about its ability to continue as a going concern without additional funding.The Phase 3 clinical trial for PRF-110 continues to progress, with preliminary top-line results expected in Q3 2024. Following completion of the bunionectomy trial, PainReform plans to initiate a second trial for hernia repair operations. The company's development strategy focuses on reformulating established therapeutics using its proprietary extended-release drug-delivery system.

PainReform reported a net loss of $12.8M for H1 2024, compared to $4.5M in H1 2023, primarily due to increased Phase 3 trial expenses. Research and development costs rose to $11.4M from $2.7M, while general and administrative expenses decreased to $1.5M from $2.0M. The company has enrolled over 200 patients across eight U.S. clinical sites for its PRF-110 post-operative pain treatment trial.The company raised $4.0M through a public offering in April 2024, but management indicates current funds will only support operations through Q4 2024. With cash and cash equivalents of $2.8M as of June 30, 2024, and negative working capital of $1.9M, PainReform faces substantial doubt about its ability to continue as a going concern without additional funding.The Phase 3 clinical trial for PRF-110 continues to progress, with preliminary top-line results expected in Q3 2024. Following completion of the bunionectomy trial, PainReform plans to initiate a second trial for hernia repair operations. The company's development strategy focuses on reformulating established therapeutics using its proprietary extended-release drug-delivery system.