Virios Therapeutics(VIRI) - 2024 Q3 - Quarterly Results

Financial Performance - The net loss for Q3 2024 was $2.3 million, or$2.05 per share, compared to a net loss of $1.2 million, or$1.62 per share in Q3 2023[10]. - General and administrative expenses rose by $0.9 million in Q3 2024 compared to Q3 2023, mainly due to higher legal and professional fees of$1.0 million related to the business combination[9]. - Research and development expenses increased by $0.2 million in Q3 2024 compared to Q3 2023, primarily due to a$0.3 million increase in expenses related to a grant for a Long-COVID study[8]. - The company has a current cash balance of $2.0 million as of September 30, 2024, which is insufficient to fund operations for the next 12 months without securing additional financing[11]. - Total liabilities as of September 30, 2024, were$1.33 million, compared to $0.36 million as of December 31, 2023[17]. - Total stockholders' equity decreased to$949,431 as of September 30, 2024, from $3.81 million as of December 31, 2023[17]. Funding and Financing - Dogwood Therapeutics raised$19.5 million in committed debt financing, with $16.5 million funded as of October 7, 2024, and an additional$3.0 million expected in Q1 2025[4]. Clinical Development - Top-line results from the ongoing IMC-2 Long-COVID Phase 2a study are expected by mid-November 2024[5]. - Interim data from the Halneuron® Phase 2b study for chemotherapy-induced neuropathic pain is anticipated in the second half of 2025[6]. - Dogwood's pipeline includes three late-stage assets: Halneuron® in Phase 2b, IMC-1 ready for Phase 3, and IMC-2 in Phase 2[3].