Serina Therapeutics, Inc.(US:SER)2025-11-13 11:05Financial Performance - The net loss for Q3 2025 was $4.6 million, or $0.45 per share, compared to a net income of $1.4 million, or $0.16 per share, in Q3 2024[9]. - The net loss attributable to Serina Therapeutics, Inc. for the three months ended September 30, 2025, was $4,585 thousand, compared to a net income of $1,410 thousand in 2024[24]. - Basic net loss per common share for the three months ended September 30, 2025, was $(0.45), compared to $0.16 in 2024[24]. - Total revenues for the three months ended September 30, 2025, were $14 million, compared to $0 million for the same period in 2024, representing a significant increase[24]. Operating Expenses - Operating expenses for Q3 2025 were $6.4 million, up from $5.3 million in Q3 2024, representing a 20.8% increase[4]. - General and administrative expenses decreased to $2.7 million in Q3 2025 from $2.9 million in Q3 2024, a reduction of 6.9%[7]. - Total operating expenses for the nine months ended September 30, 2025, were $17,945 thousand, compared to $11,569 thousand in 2024, indicating a 55% increase[24]. Research and Development - R&D expenses increased to $3.6 million in Q3 2025 from $2.4 million in Q3 2024, a rise of 50% driven by outsourced research services and clinical activities[6]. - Research and development expenses increased to $3,651 thousand for the three months ended September 30, 2025, up from $2,415 thousand in 2024, reflecting a 51% increase[24]. - SER-270 is on track for formulation optimization and pre-IND activities in 2026, targeting tardive dyskinesia treatment[5][16]. - The SER-252 registrational study is designed to evaluate safety and efficacy in adults with Parkinson's disease, involving 40 participants in the single-ascending-dose component[15]. Cash and Financing - Cash and cash equivalents increased to $8.6 million as of September 30, 2025, compared to $3.7 million as of December 31, 2024[10][22]. - Net cash used in operating activities for the nine months ended September 30, 2025, was $(11,922) thousand, slightly improved from $(12,548) thousand in 2024[26]. - Net cash provided by financing activities for the nine months ended September 30, 2025, was $16,931 thousand, compared to $8,181 thousand in 2024, showing a 107% increase[26]. - Cash and cash equivalents at the end of the period on September 30, 2025, were $8,620 thousand, up from $3,235 thousand at the end of the same period in 2024[26]. - Serina secured up to $20 million in funding through a convertible note and warrant financing agreement, with the first tranche of $5 million drawn in September 2025[5]. - As of November 7, 2025, Serina issued 474,712 shares of common stock at a gross average price of $6.00, resulting in net proceeds of $2.8 million[5]. Shareholder Information - The weighted average number of common shares outstanding for the three months ended September 30, 2025, was 10,339 thousand, compared to 8,851 thousand in 2024, reflecting a 17% increase[24]. - Total other income, net for the three months ended September 30, 2025, was $1,797 thousand, down from $6,695 thousand in 2024, indicating a decrease of 73%[24]. Regulatory Milestones - The FDA supported advancing SER-252 under a 505(b)(2) NDA pathway, marking a significant regulatory milestone[3][5].