Corporate Transactions and Partnerships - The company completed a reverse merger with Coeptis Therapeutics, Inc., which is now the accounting acquirer, affecting the financial condition and results of operations [138]. - The company paid approximately $570,000 in cash and issued 4,000,000 shares of common stock to Deverra Therapeutics as part of an exclusive licensing arrangement, totaling $4,937,609 in consideration [160]. - A Shared Services Agreement was established with Deverra to collaborate on the development of GEAR and SNAP-CAR platforms for six months [161]. - The company has entered into strategic partnerships to co-develop therapies for the auto-immune and oncology markets, focusing on innovative products and technologies [146]. - The company has a 50% ownership interest in the CD38-Diagnostic and CD38-GEAR-NK product candidates, with revenue sharing agreements in place [158]. - The company has divested several ANDA products to a larger generic pharmaceutical manufacturer, shifting focus away from generic product commercialization [146]. Market Opportunities and Product Development - The global multiple myeloma market was valued at $19.48 billion in 2018 and is projected to reach $31 billion by 2026, indicating significant market opportunity for the CD38-GEAR-NK product [151]. - The CD38-Diagnostic has been classified as a Class II device by the FDA, allowing for better planning and execution of future development activities [155]. - The company has abandoned all activities and ownership pertaining to two anti-hypertension products launched in 2020 due to the COVID-19 pandemic's impact on sales [146]. - The company has ceased prioritizing the development of CPT60621 and is negotiating a buy-out of remaining ownership rights with Vici Health Sciences [162]. Financial Performance and Expenses - The company generated minimal revenue primarily from consulting arrangements and product sales, with no significant revenue expected for at least the next two years [167][170]. - Operating expenses increased from $2,922,383 in Q1 2024 to $4,074,702 in Q1 2025, driven by higher professional services and stock-based compensation expenses [171]. - Cash and cash equivalents rose from $1,029,244 in Q1 2024 to $4,268,368 in Q1 2025, indicating improved liquidity for operational funding [175]. - The company anticipates increased general and administrative expenses as it expands headcount to support business growth [168]. - Research and development costs are expected to rise in alignment with new strategic initiatives and collaborations [169]. - Interest expense decreased from $200,505 in Q1 2024 to $71,491 in Q1 2025 due to the satisfaction of the Purple Biotech convertible note [173]. - The change in fair value of derivative liabilities showed a significant increase from $34,875 in Q1 2024 to $596,120 in Q1 2025, reflecting market volatility and share price changes [174]. Operational Challenges - The company continues to face operational challenges due to the COVID-19 pandemic, impacting the launch and sales of its products [147]. Technological Advancements - The company acquired NexGenAI Affiliates Network Platform, enhancing its capabilities in AI-powered marketing and digital services [164][165]. - The company plans to utilize proprietary automation technologies to streamline client outreach and digital marketing operations [166].
ptis Therapeutics (COEP) - 2025 Q1 - Quarterly Report