PainReform H1 2024 R&D Expenses $11.4M Due To Phase 3 Trial, Driving Net Loss To $12.8M; G&A Expenses Decrease To $1.5M; Cash Position At $2.8M Following $4M Public Offering In April
Portfolio Pulse from Benzinga Newsdesk
PainReform reported R&D expenses of $11.4M for H1 2024 due to a Phase 3 trial, resulting in a net loss of $12.8M. G&A expenses decreased to $1.5M, and the cash position is at $2.8M following a $4M public offering in April.
August 15, 2024 | 12:14 pm
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NEGATIVE IMPACT
PainReform's significant R&D expenses for H1 2024 due to a Phase 3 trial have driven a net loss of $12.8M. However, G&A expenses have decreased, and the company has a cash position of $2.8M following a $4M public offering in April.
The high R&D expenses and resulting net loss are likely to negatively impact investor sentiment in the short term. However, the decrease in G&A expenses and the cash position from the recent public offering may provide some cushion.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100