BiomX(US:PHGE)2025-11-12 12:45Financial Performance - Net loss for Q3 2025 was $9.2 million, compared to a net income of $9.6 million in Q3 2024, primarily due to changes in the fair value of warrants[10] - The operating loss narrowed to $8,536 million in Q3 2025 from $11,328 million in Q3 2024, a reduction of approximately 24.7%[22] - Net loss increased to $9,166 million in Q3 2025, compared to a net income of $9,642 million in Q3 2024[22] - Basic loss per share was $0.29 in Q3 2025, compared to a loss of $0.31 per share in Q3 2024[22] - Loss before tax was $9,163 million in Q3 2025, compared to a loss of $9,642 million in Q3 2024[22] - The company reported a loss from change in fair value of warrants of $730 million in Q3 2025, compared to a gain of $20,559 million in Q3 2024[22] Cash Position - Cash balance as of September 30, 2025, was $8.1 million, down from $18 million as of December 31, 2024, primarily due to net cash used in operating activities[6] - BiomX's cash, cash equivalents, and restricted cash are estimated to be sufficient to fund operations into the first quarter of 2026[6] Research and Development - Research and development expenses for Q3 2025 were $6.1 million, a decrease from $7.3 million in Q3 2024, driven by reduced salary expenses and lower rent expenses[8] - R&D expenses decreased to $6,122 million in Q3 2025 from $7,279 million in Q3 2024, a reduction of approximately 15.9%[22] - BiomX plans to prioritize diabetic foot infections as the lead indication for regulatory development, following positive Phase 2 results from BX211[7] - The FDA has provided positive feedback on BX011, confirming a clear clinical development path for the treatment of diabetic foot infections[3] - BiomX expects to report topline results from the Phase 2b study of BX004 in the first quarter of 2026[7] General and Administrative Expenses - General and administrative expenses for Q3 2025 were $2.4 million, down from $3.2 million in Q3 2024, mainly due to reduced salary and share-based compensation expenses[9] - General and administrative expenses fell to $2,414 million in Q3 2025 compared to $3,248 million in Q3 2024, representing a decrease of about 25.6%[22] Other Financial Metrics - Interest expenses remained stable at $5 million for both Q3 2025 and Q3 2024[22] - Goodwill impairment was recorded at $801 million in Q3 2024, with no impairment in Q3 2025[22] Funding and Collaborations - The company received approximately $40 million in non-dilutive funding from the DHA and Department of Navy for the development of phage therapies[14] - The company is in discussions with the U.S. Defense Health Agency regarding the utilization of phage therapy for S. aureus-driven infections[7]