Virax Biolabs Group Limited reported a net loss of $6.7 million for fiscal year 2024, compared to $5.5 million in 2023, as the company continues developing its ViraxImmune T-cell diagnostic platform. Revenue increased to $156,419 from $8,561 in the prior year, while operating expenses rose 14% to $6.5 million, primarily due to higher general and administrative costs and research investments.The company made significant progress on its ViraxImmune platform, focusing on developing comprehensive T-cell diagnostics and immune profiling solutions for post-viral syndromes and chronic inflammation. Research and development expenses were $1.6 million, down from $2.2 million in 2023, as the company advanced its diagnostic test development. The company ended the year with $3.6 million in cash, compared to $9.4 million at the end of fiscal 2023.Looking ahead, Virax plans to...Show More

Virax Biolabs Group Limited reported a net loss of $6.7 million for fiscal year 2024, compared to $5.5 million in 2023, as the company continues developing its ViraxImmune T-cell diagnostic platform. Revenue increased to $156,419 from $8,561 in the prior year, while operating expenses rose 14% to $6.5 million, primarily due to higher general and administrative costs and research investments.The company made significant progress on its ViraxImmune platform, focusing on developing comprehensive T-cell diagnostics and immune profiling solutions for post-viral syndromes and chronic inflammation. Research and development expenses were $1.6 million, down from $2.2 million in 2023, as the company advanced its diagnostic test development. The company ended the year with $3.6 million in cash, compared to $9.4 million at the end of fiscal 2023.Looking ahead, Virax plans to initially launch T-cell immune profiling assays as research-use-only products, followed by in-vitro diagnostic tests centered on T-cell exhaustion and chronic inflammation. The company is targeting the UK and North American markets first, citing rising healthcare expenditures and strong research support in these regions. Management continues to pursue additional funding options to support ongoing operations and development activities.