Genprex(US:GNPX)2019-05-15 19:14Financial Performance - As of March 31, 2019, the company had an accumulated deficit of $31,983,537, having never generated revenue from product sales since inception [107]. - The company anticipates needing to raise additional capital to fund future operations, as it does not expect to generate revenue from product sales in the near term [110]. Expenses - Research and development expense increased to $508,042 for the three months ended March 31, 2019, compared to $51,621 for the same period in 2018, reflecting a rise of $456,421 driven by commercialization activities [102]. - General and administrative expense rose to $1,659,796 for the three months ended March 31, 2019, up from $634,063 in 2018, an increase of $1,025,733 attributed to higher headcount and operational activities [103]. - Net cash used in operating activities was $1,641,793 for the three months ended March 31, 2019, compared to $203,712 in 2018, marking an increase of $1,438,081 primarily due to higher general and administrative expenses [112]. - Net cash used in investing activities was $13,331 for the three months ended March 31, 2019, compared to $10,452 in 2018, an increase of $2,879 due to equipment purchases and patent prosecution [113]. - The company did not provide any cash from financing activities during the three months ended March 31, 2019, compared to $77,398 in 2018, due to no stock sales or debt issuance [114]. Cash Position - The company had $6,945,794 in cash as of March 31, 2019, with no outstanding debt [109][105]. Future Outlook - The company expects research and development expenses to increase as it advances its product candidates through clinical trials and seeks regulatory approval [98]. - The company has implemented all new accounting pronouncements that may affect its financial statements and does not foresee any material impact from other new accounting standards [87].