ptis Therapeutics (US:COEP)2025-11-13 23:01Business Developments - The company completed a reverse merger with Coeptis Therapeutics, Inc., which is now its primary operating subsidiary[147]. - The company entered into exclusive option agreements with Vy-Gen-Bio, Inc. for technologies aimed at treating CD38-related cancers[157]. - An exclusive licensing arrangement was established with Deverra Therapeutics for a proprietary allogeneic stem cell expansion platform[169]. - The company has abandoned all activities related to two previously launched anti-hypertension products due to pandemic-related challenges[155]. - The company has divested from ANDA products and is no longer focusing on the commercialization of generic products[155]. - The co-development agreement with Vy-Gen includes a 50% revenue sharing model for the CD38 product candidates[167]. - The company is focusing on innovative products and technologies to transform its current offerings in the biopharmaceutical sector[155]. - The company is continuing its development focus on GEAR and SNAP-CAR platforms and is considering strategic partners for development[171]. Financial Performance - Revenues for the three months ended September 30, 2025, were $237,441, compared to $0 for the same period in 2024, driven by lead generation and webinar services[179]. - Operating expenses increased from $2,141,789 in Q3 2024 to $2,669,314 in Q3 2025, primarily due to increased professional services and stock-based compensation[180]. - General and administrative expenses rose from $584,667 in the nine months ended September 30, 2024, to $998,707 in the same period of 2025, mainly due to arbitration resolution fees[186]. - Cash and cash equivalents increased from $1,137,452 in September 2024 to $4,908,487 in September 2025, primarily from a private placement common stock offering[190]. - The change in fair value of derivative liabilities was $856,180 for the nine months ended September 30, 2025, compared to $235,125 for the same period in 2024[188]. - The company recognized an unrealized loss on marketable securities of $568,868 for the three months ended September 30, 2025, reflecting a decline in market value[183]. Research and Development - The CD38-Diagnostic tool has been classified as a Class II device by the FDA, facilitating future development activities[164]. - The company made initial payments totaling $750,000 under the CD38 Agreements to acquire exclusive options for co-development rights[166]. - The total consideration paid to Deverra was approximately $4,937,609, fully expensed in research and development for the year ended December 31, 2023[170]. - Research and development costs are expected to increase to support new strategic initiatives and collaborations[178]. - The year-over-year decrease in research and development expense is attributed to the termination of the Shared Services Agreement with Deverra in December 2024[180]. Market Insights - The global multiple myeloma market was valued at $19.48 billion in 2018 and is projected to reach $31 billion by 2026[160].