Propanc Biopharma, Inc. reported its financial results for the three months ended September 30, 2024, revealing a mixed performance compared to the same period in 2023. Total current assets decreased to $21,534 from $25,441, while total assets fell from $72,365 to $63,644. Total liabilities increased significantly from $3,851,424 to $4,171,729, contributing to a rise in total stockholders’ deficit from $(3,779,059) to $(4,108,085). The accumulated deficit also grew from $(66,698,220) to $(67,052,530).

For the quarter, Propanc reported administration expenses of $220,759, a notable decrease from $393,828 in Q3 2023. Total operating expenses were $290,790, down from $417,219 in the prior year. The company experienced a loss from operations of $(290,790), an improvement from $(417,219) in Q3 2023. However, the net loss available to common stockholders was $(354,310), slightly worse than the $(350,866) reported in the same quarter last year. Total comprehensive loss increased to $(453,253) from $(419,767).

The company’s financial activities showed a net cash used in operating activities of $(235,515), an improvement from $(333,457) in Q3 2023. Net cash provided by financing activities decreased to $215,699 from $350,347. The cash balance at the end of the period was $9,268, up from $6,625 a year earlier.

Significant changes in the company’s capital structure were noted, with common stock issued and outstanding rising from 478,802,488 shares to 688,022,017 shares. The additional paid-in capital surged from $626,229 to $61,132,262, reflecting the company's efforts to bolster its financial position.

Propanc continues to focus on developing new cancer treatments, particularly targeting high-risk patients and cancer survivors, with its lead product candidate, PRP, in preclinical development. The company holds 84 granted or allowed patents related to proenzymes against solid tumors. A reverse stock split of 1-for-1,000 was executed on May 1, 2023, affecting stock options and warrants.

As of September 30, 2024, the company recognized a cumulative exchange gain of approximately $677,000 on intercompany loans, a significant turnaround from a cumulative exchange loss of approximately $669,000 a year prior. The company operates with the Australian dollar as its functional currency while reporting in U.S. dollars.