Aditxt, Inc. reported significant financial challenges in its latest 10-Q filing for the quarter ending September 30, 2024. The company experienced a drastic decline in revenue, with total revenue for the three months amounting to $6.9 thousand, a sharp decrease from $124.5 thousand in the same period of the previous year. For the nine months ended September 30, 2024, revenue totaled $130.8 thousand, down from $563.9 thousand in 2023. This decline in revenue has contributed to a net loss of $29.5 million for the nine months, compared to a loss of $21.4 million for the same period in 2023.

The company's total current assets decreased significantly from $6.9 million at the end of 2023 to $2.1 million as of September 30, 2024. Total assets also fell from $44.6 million to $29.8 million during the same period. Aditxt's total stockholders' equity saw a substantial decline, dropping from $16.0 million at the end of 2023 to $4.4 million by September 30, 2024.

Operating expenses for the third quarter were reported at $4.2 million, down from $8.1 million in the prior year, while total operating expenses for the nine months increased to $21.8 million from $18.2 million in 2023. The company’s gross profit for the third quarter was a loss of $460.7 thousand, compared to a profit of $17.6 thousand in the same quarter of 2023.

Aditxt has been actively pursuing capital-raising initiatives to address its financial needs, including a series of private placements and direct offerings. Notably, the company entered into a Registered Direct Purchase Agreement in August 2024, generating approximately $1.2 million in gross proceeds. However, the company has expressed substantial doubt about its ability to continue as a going concern, citing insufficient revenues and cash flow.

Strategically, Aditxt has been involved in several acquisitions and partnerships, including the merger agreement with Evofem Biosciences, which is subject to various conditions and regulatory approvals. The company has also formed several subsidiaries aimed at enhancing its product offerings in personalized medicine and immune modulation.

As of September 30, 2024, Aditxt had cash reserves of $328.6 thousand, a decrease from $1.7 million a year earlier. The company is currently facing significant overdue obligations, with approximately $11.8 million in accounts payable, of which about $9.3 million is over 90 days past due. This financial strain raises concerns about the company's operational viability and ability to meet its obligations moving forward.