CytoMed Therapeutics (GDTC) - 2025 Q2 - Quarterly Report

Revenue and Income - Revenue for the six months ended June 30, 2025, was S$155,887, compared to S$0 in the same period of 2024, indicating a significant increase[3] - Other operating income decreased to S$385,779 in 2025 from S$421,763 in 2024, reflecting a decline of approximately 8.5%[3] - Revenue from private blood storage services for the six months ended June 30, 2025, was S$130,280, while revenue from retrieval of private blood services was S$25,607, totaling S$155,887[22] Loss and Expenses - Total comprehensive loss for the period increased to S$2,269,263 in 2025 from S$1,083,150 in 2024, representing an increase of about 109%[3] - Loss before income tax for the six months ended June 30, 2025, was S$2,245,828, compared to S$1,088,543 in 2024, marking an increase of approximately 106%[3] - The loss per share attributable to equity holders of the Company was S$0.19 for the six months ended June 30, 2025, compared to S$0.09 in 2024[3] - The group reported a total loss of S$360,871 in June 30, 2024, which improved to a gain of S$272,848 in June 30, 2025, primarily due to fair value changes on warrant liabilities and currency exchange[27] - Research expenses increased from S$974,402 in June 30, 2024 to S$1,162,467 in June 30, 2025, with clinical trial expenses rising from S$239,805 to S$283,559[28] - Employee benefits expenses rose from S$646,640 in June 30, 2024 to S$809,704 in June 30, 2025, with total expenses after research classification increasing from S$299,167 to S$386,091[29] Assets and Liabilities - Total assets decreased to S$8,357,067 as of June 30, 2025, from S$10,067,749 as of December 31, 2024, a decline of about 17%[4] - Cash and bank balances decreased to S$2,854,958 as of June 30, 2025, from S$4,970,367 as of December 31, 2024, a reduction of approximately 43%[4] - Total liabilities increased to S$1,134,861 as of June 30, 2025, from S$1,023,960 as of December 31, 2024, an increase of about 11%[4] - The Group's total equity attributable to equity holders of the Company as of June 30, 2025, was S$7,146,525, down from S$10,162,106 as of June 30, 2024[7] - The Group's accumulated losses increased to S$17,091,895 as of June 30, 2025, from S$13,419,835 as of June 30, 2024[7] - Total borrowings increased from S$463,250 in December 31, 2024 to S$489,604 in June 30, 2025, with current borrowings rising from S$45,912 to S$57,835[50] Cash Flow - The company reported a net cash used in operating activities of S$1,599,164 for the six months ended June 30, 2025, compared to S$1,155,878 in 2024, indicating a worsening cash flow situation[5] - The Group's cash flow from operating activities was negative S$1,599,164 as of June 30, 2025, with working capital at S$3,380,056[17] - The Group had S$2,854,958 in cash and bank balances as of June 30, 2025, which is unrestricted for withdrawal and use[17] - Cash and cash equivalents decreased from S$4,697,047 in December 31, 2024 to S$2,854,958 in June 30, 2025, primarily due to a reduction in short-term fixed deposits[34] Shareholder Information - The weighted average number of ordinary shares used in computing basic and diluted loss remained relatively stable at approximately 11.54 million shares for both periods[3] - As of June 30, 2025, the total number of ordinary shares increased to 11,540,000, with a share capital amounting to S$23,793,950[51] - The company recognized share-based payments totaling S$448,327 for the period ending June 30, 2025, which includes S$86,941 in employee benefits expenses and S$361,386 in other expenses[54] Business Operations and Future Outlook - The Company completed the acquisition of the license and certain assets of Cellsafe International Sdn Bhd on August 15, 2024, expanding its market presence[12] - The Group's principal activities include research and development of immune cell and stem cell-based therapies, indicating a focus on innovation in the healthcare sector[11] - Management expects to recognize approximately S$335,000 in revenue from unsatisfied performance obligations in the next reporting period, with S$219,000 expected in the following year and S$23,000 beyond that[25] - The company operates in two business segments, focusing on immune cell-based immunotherapy and stem cell-based therapy[58] Commitments and Agreements - The company has a total capital commitment of S$137,234 as of June 30, 2025, with S$10,900 due within one year[60] - A loan commitment of S$500,000 is in place to establish a presence in China, with an interest rate of 5.0% per annum[61] - On July 1, 2025, the company issued 130,431 ordinary shares to professional service providers for approximately U.S.$309,121[63] - The company entered into an ATM Sales Agreement on August 18, 2025, allowing for the sale of ordinary shares up to an aggregate offering price of U.S.$4.30 million[64] Asset Management - The group acquired property, plant, and equipment worth approximately S$347,797 as of June 30, 2025, down from S$1,400,225 in December 31, 2024[35] - The total trade and other receivables increased from S$1,530,336 in December 31, 2024 to S$1,728,190 in June 30, 2025, with trade receivables rising from S$18,782 to S$24,705[33] - The total trade and other payables increased from S$441,023 in December 31, 2024 to S$477,690 in June 30, 2025, with trade payables rising from S$38,633 to S$82,735[44] - Non-current assets increased from S$3,846,096 on December 31, 2024, to S$4,063,570 on June 30, 2025, reflecting growth in asset value[56]