Financial Performance - CervoMed reported a net loss of approximately $6.3 million for Q2 2025, compared to a net loss of approximately $2.3 million for the same period in 2024[8]. - Net loss for Q2 2025 was $(6,258,404), which is a 170.5% increase from $(2,316,905) in Q2 2024[16]. - Net loss per share for Q2 2025 was $(0.70), compared to $(0.27) in Q2 2024[16]. - Total comprehensive loss for Q2 2025 was $(6,280,410), compared to $(2,336,607) in Q2 2024, indicating a significant increase in overall losses[16]. - Loss from operations for Q2 2025 was $(6,616,275), compared to $(2,995,099) in Q2 2024, reflecting a 121.9% increase in losses[16]. Revenue and Expenses - Grant revenue for Q2 2025 was approximately $1.8 million, a decrease from approximately $3.3 million for the same period in 2024 due to the transition to the Extension phase of the RewinD-LB trial[5]. - Grant revenue for Q2 2025 was $1,757,724, a decrease of 46.5% compared to $3,288,971 in Q2 2024[16]. - Total operating expenses increased to $8,373,999 in Q2 2025, up 33.4% from $6,284,070 in Q2 2024[16]. - R&D expenses for Q2 2025 were approximately $5.1 million, an increase from approximately $3.8 million in Q2 2024, primarily due to increased CMC activities and clinical trial costs[7]. - Research and development expenses rose to $5,108,625 in Q2 2025, a 35.3% increase from $3,772,391 in Q2 2024[16]. - General and administrative expenses were approximately $3.3 million in Q2 2025, compared to approximately $2.5 million in Q2 2024, mainly due to headcount costs[8]. - General and administrative expenses increased to $3,265,374 in Q2 2025, up 30.1% from $2,511,679 in Q2 2024[16]. - Interest income decreased to $368,127 in Q2 2025, down 45.7% from $678,441 in Q2 2024[16]. Clinical Trials and Developments - In the Phase 2b RewinD-LB trial, patients treated with neflamapimod showed a 54% risk reduction in clinically significant worsening compared to control at Week 32 (p=0.0037)[3]. - Among patients with minimal evidence of Alzheimer's disease co-pathology, the risk reduction improved to 64% (p=0.0001) at Week 32[3]. - At Week 32, there was a statistically significant reduction in GFAP plasma levels, with a mean change of -18.4±4.0 pg/mL in all participants (N=107)[3]. - CervoMed enrolled the first patients in a Phase 2a trial of neflamapimod in patients recovering from acute stroke in Q2 2025[6]. - CervoMed plans to meet with the FDA in Q4 2025 to align on the design of the planned Phase 3 trial, which is expected to initiate in mid-2026[6]. Cash and Securities - As of June 30, 2025, CervoMed had approximately $33.5 million in cash, cash equivalents, and marketable securities, down from $38.9 million as of December 31, 2024[4]. - Weighted average shares outstanding for Q2 2025 was 8,950,521, an increase from 8,702,764 in Q2 2024[16].
DIFFUSION PHARMA(DFFN) - 2025 Q2 - Quarterly Results