As of September 30, 2024, Kairos Pharma, Ltd. reported significant financial improvements compared to the previous fiscal period. Total assets surged to $5,004,000, a substantial increase from $965,000 at the end of 2023. Current assets also rose dramatically to $4,742,000 from $101,000, with cash holdings climbing to $3,217,000 from $93,000. Total liabilities decreased to $1,672,000 from $3,043,000, leading to a notable turnaround in shareholders' equity, which improved to $3,332,000 from a deficit of $(2,078,000).

Operating expenses for the three months ended September 30, 2024, were $383,000, up from $287,000 in the same period of 2023. Research and development expenses decreased to $14,000 from $33,000, while general and administrative expenses increased to $369,000 from $254,000. For the nine months ended September 30, 2024, total operating expenses reached $897,000, compared to $625,000 in 2023. The net loss for the three months was $(1,047,000), a significant increase from $(312,000) in the prior year, while the nine-month net loss rose to $(1,623,000) from $(694,000).

The company completed its initial public offering (IPO) on September 16, 2024, raising gross proceeds of $6,200,000 and net proceeds of $5,524,000. This capital infusion contributed to a net cash increase of $3,124,000 for the nine months ended September 30, 2024, compared to a decrease of $(338,000) in the same period of 2023. The cash balance at the end of the reporting period is expected to sustain operations for at least the next 12 months.

Strategically, Kairos Pharma has entered into several agreements, including a master service and technology agreement with Prevail Infoworks, Inc., and a Bioassay Services Agreement with PreCheck Health Services, Inc., both aimed at advancing clinical trials. The company has also established exclusive license agreements with Cedars-Sinai Medical Center for various cancer treatment patents.

Despite these advancements, the company continues to face challenges, including a substantial accumulated deficit of $(7,835,000) as of September 30, 2024, and ongoing operational losses. The company has indicated that it will require additional funding to support its clinical development and commercialization efforts, pending regulatory approvals.