Aditxt, Inc. reported a net loss of $35.0 million for the fiscal year ending December 31, 2024, compared to a loss of $32.4 million in the previous year. The company's revenue decreased to $134,000 from $645,000 in 2023, primarily due to a decline in sales of its AditxtScore product. The cost of sales also fell to $627,000 from $757,000, reflecting the reduced sales volume. The accumulated deficit as of December 31, 2024, stood at approximately $168.1 million, raising concerns about the company's ability to continue as a going concern.
In terms of strategic developments, Aditxt has made significant moves, including the formation of two subsidiaries, Adimune, Inc. and Pearsanta, Inc., in January 2023. Adimune focuses on immune modulation therapies, particularly the ADI-100 product candidate, which is designed to treat autoimmune diseases. Pearsanta aims to develop molecular tests for early cancer detection, leveraging the acquired Mitomic Technology platform from MDNA Life Sciences. The company also entered into a merger agreement with Evofem Biosciences and an arrangement agreement with Appili Therapeutics, although the completion of these transactions remains uncertain.
Operationally, Aditxt's employee count was reported at 26 as of December 31, 2024. The company operates a CLIA-certified laboratory in Richmond, Virginia, which is essential for its testing services. However, it faces challenges in maintaining compliance with regulatory requirements, which could impact its ability to offer its assays. The company has also been actively seeking additional funding to support its operations and product development, indicating a reliance on external capital to sustain its business model.
Looking ahead, Aditxt's management expressed uncertainty regarding future profitability and the need for significant additional capital to fund ongoing operations and clinical trials. The company has initiated various financing efforts, including private placements and agreements to sell common stock, to bolster its financial position. However, the ability to secure necessary funding remains contingent on market conditions and the progress of its clinical development programs. The company’s outlook is cautious, with substantial doubt about its ability to continue operations without further capital infusion.
About Aditxt, Inc.
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