CervoMed (US:CRVO)2025-11-10 21:05Financial Performance - As of September 30, 2025, CervoMed had approximately $27.3 million in cash, cash equivalents, and marketable securities, down from $38.9 million as of December 31, 2024, indicating a decrease of about 29.1%[4] - Grant revenue for the three months ended September 30, 2025, was approximately $0.3 million, a significant decrease of 84.2% compared to approximately $1.9 million for the same period in 2024[5] - The net loss for the three months ended September 30, 2025, was approximately $7.7 million, compared to a net loss of approximately $4.8 million for the same period in 2024, representing an increase of 60.4%[8] - Grant revenue for Q2 2025 was $322,569, compared to $1,939,751 in Q2 2024, representing a significant decline[17] - Net loss for Q2 2025 was $7,726,639, compared to a net loss of $4,753,541 in Q2 2024, indicating an increase in losses of about 62.5%[17] - Total comprehensive loss for the first half of 2025 was $18,929,450, compared to $9,461,619 in the first half of 2024, indicating a year-over-year increase of approximately 99.5%[17] Expenses - Research and Development (R&D) expenses for the quarter ended September 30, 2025, were approximately $6.0 million, an increase of 17.6% from approximately $5.1 million in the same period in 2024[7] - General and Administrative (G&A) expenses were approximately $2.3 million during the three months ended September 30, 2025, compared to approximately $2.2 million in the same period in 2024, reflecting a slight increase of 4.5%[8] - Total operating expenses increased to $8,366,768 in Q2 2025 from $7,336,024 in Q2 2024, a rise of approximately 14.1%[17] - Research and development expenses rose to $6,040,442 in Q2 2025 from $5,125,097 in Q2 2024, an increase of approximately 17.9%[17] - General and administrative expenses increased to $2,326,326 in Q2 2025 from $2,210,927 in Q2 2024, an increase of approximately 5.2%[17] Clinical Trials and Developments - CervoMed reported a 64% risk reduction in clinically significant worsening in patients treated with neflamapimod compared to control over 32 weeks, with a p-value of less than 0.001[6] - The company plans to initiate a global pivotal Phase 3 trial for neflamapimod in DLB patients in the second half of 2026, following alignment with the FDA on trial design[3] - Initial biomarker data from a Phase 2a trial in a subtype of frontotemporal dementia (FTD) and topline results from a Phase 2a trial in recovery after stroke are expected in 2026[1] - CervoMed's recent Phase 2b RewinD-LB trial demonstrated a durable beneficial effect on clinical progression and substantial reductions in plasma levels of a biomarker of neurodegeneration[2] Management Changes - The company appointed Matthew Winton, Ph.D., as Chief Commercial and Business Officer and David Quigley to its Board of Directors in October 2025[6] Shareholder Information - Net loss per share for Q2 2025 was $0.84, compared to $0.55 in Q2 2024, reflecting a deterioration in per-share performance[17] - Weighted average shares outstanding increased to 9,252,719 in Q2 2025 from 8,702,764 in Q2 2024, a growth of about 6.3%[17] Other Income - Interest income decreased to $318,787 in Q2 2025 from $646,172 in Q2 2024, a decline of about 50.7%[17] - Total other income, net for Q2 2025 was $317,560, down from $642,732 in Q2 2024, a decrease of about 50.6%[17]