Pluri (US:PLUR)2025-11-12 21:01Financial Performance - Revenues for the three-month period ended September 30, 2025, were $316,000, a decrease of 3% compared to $326,000 for the same period in 2024[87]. - Net loss for the three-month period ended September 30, 2025, was $6,132,000, compared to a net loss of $6,036,000 for the same period in 2024, primarily due to increased R&D and administrative expenses[93]. - Loss per share for the three-month period ended September 30, 2025, was $0.65, a decrease from $1.08 loss per share in the same period of 2024, attributed to an increase in the weighted average number of shares outstanding[94]. Expenses - Cost of revenues increased by 59% from $126,000 in the three-month period ended September 30, 2024, to $201,000 in the same period of 2025, primarily due to higher personnel costs[88]. - R&D expenses, net, rose by 36% from $2,889,000 for the three-month period ended September 30, 2024, to $3,931,000 in 2025, attributed to increased salaries and new employee additions following the acquisition of Kokomodo[89]. - General and administrative expenses increased by 1% from $2,509,000 in the three-month period ended September 30, 2024, to $2,534,000 in 2025, mainly due to higher share-based compensation expenses[90]. Business Developments - The company launched a new business division, PluriCDMO™, in January 2024, offering cell therapy manufacturing services and generating revenues from several client agreements[77]. - The company completed the acquisition of approximately 79% of Kokomodo, an innovative agfood startup, on April 28, 2025, to enhance its capabilities in sustainable cacao production[80]. - In June 2024, Ever After Foods raised $10 million in a funding round to support its B2B technology platform for cultivated meat, with Pluri Biotech investing $1.25 million[83]. Strategic Initiatives - The company is actively pursuing collaborations in AgTech, including partnerships to enhance bio stimulant delivery and develop cell-cultured coffee and cacao[78][79]. - The company aims to expand its technology applications across various industries, including regenerative medicine, food technology, and agriculture technology[70]. - The company is focused on developing placenta-based cell therapy product candidates for inflammatory and hematologic conditions, as well as launching a novel immunotherapy platform utilizing MAIT cells[72][75]. Financial Position - Total current assets as of September 30, 2025, were $16,921,000, while total current liabilities were $32,160,000, resulting in a working capital deficit of $15,239,000[96]. - Cash used in operating activities increased to $5,428,000 during the three months ended September 30, 2025, compared to $4,064,000 in the same period of 2024[98]. - Cash provided by investing activities was $3,850,000 for the three months ended September 30, 2025, compared to $585,000 in the same period of 2024[99]. - As of September 30, 2025, cash and cash equivalents totaled $4,687,000, an increase from $3,563,000 as of September 30, 2024[97]. Liquidity and Going Concern - The company has accumulated a deficit of $448,905,000 since inception and does not anticipate generating significant revenues from product sales in the next twelve months[117]. - The company is addressing liquidity issues by implementing initiatives to continue operations, with cash balances totaling $16,393,000 as of September 30, 2025[118]. - Management estimates insufficient resources to meet operating obligations for at least twelve months from the issuance date of the financial statements, raising substantial doubt about the company's ability to continue as a going concern[120]. - The company received a total of $2.3 million in funding under the NIAID contract before its termination on April 15, 2025[109].