BioRestorative Therapies, Inc. reported significant financial developments in its 10-Q filing for the quarter ending September 30, 2024. The company experienced a notable increase in revenues, which reached $233,600, a substantial rise from $30,700 during the same period in 2023. This increase in revenue was accompanied by a gross profit of $215,357, compared to $30,700 in the prior year.

Total operating expenses for the three months ended September 30, 2024, decreased to $2,502,350 from $3,135,143 in the same quarter of 2023. This reduction in expenses contributed to a loss from operations of $(2,286,993), which improved from $(3,104,443) in the previous year. The net loss for the quarter was $(1,091,416), significantly lower than the $(4,768,261) reported in the third quarter of 2023. For the nine months ended September 30, 2024, the net loss was $(7,343,233), a decrease from $(8,113,710) for the same period in 2023.

The company’s cash and cash equivalents increased to $1,489,444 as of September 30, 2024, up from $884,377 on December 31, 2023. Investments in marketable securities also rose to $11,598,417 from $10,181,618 during the same timeframe. Total current assets reached $13,508,939, an increase from $11,390,526 at the end of 2023, while total assets grew to $14,573,451 from $12,611,720.

On the liabilities side, total current liabilities increased to $4,581,535 from $2,607,345 as of December 31, 2023. The additional paid-in capital rose to $164,019,809, up from $156,689,256. However, the accumulated deficit widened to $(154,042,567) from $(146,699,334) at the end of the previous fiscal year.

In terms of cash flow, net cash used in operating activities for the nine months ended September 30, 2024, was $(5,882,501), an increase from $(4,842,249) in the same period of 2023. Conversely, net cash provided by financing activities surged to $7,505,646, compared to $2,265,700 for the prior year.