Financial Performance - The company reported net losses of $4,082,000 for the nine months ended September 30, 2025, and $2,603,000 for the year ended December 31, 2024, with an accumulated deficit of $12,897,000 as of September 30, 2025[88]. - For the nine months ended September 30, 2025, total operating expenses were $4,157, up from $897 in the same period of 2024, resulting in a net loss of $4,082[113]. - Cash used in operating activities was $2,357 for the nine months ended September 30, 2025, compared to $2,152 in the same period of 2024[121]. - Other income improved to $37 in Q3 2025 compared to a loss of $(664) in Q3 2024, driven by interest income from a money market account[112]. Operating Expenses - Total operating expenses for the three months ended September 30, 2025, were $1,435,000, compared to $383,000 for the same period in 2024, representing an increase of 274%[109]. - Research and development expenses for the three months ended September 30, 2025, were $608,000, up from $14,000 in the same period in 2024[109]. - General and administrative expenses increased to $827,000 for the three months ended September 30, 2025, compared to $369,000 for the same period in 2024, reflecting a rise of 124%[109]. - The increase in vendor advances amortization expense in 2025 was a significant factor in the rise of general and administrative expenses[115]. - The company incurred non-cash expenses of $2,301 during the nine months ended September 30, 2025, primarily from vendor advances amortization[121]. Revenue Generation - The company has not generated any revenue from product sales to date, with no sales recorded during the nine months ended September 30, 2025, and 2024[101]. Financing Activities - The company entered into an Equity Line of Credit Agreement with Helena Global Investment Opportunities I LTD for up to $30,000,000 in common stock purchases[91]. - During the nine months ended September 30, 2025, the company sold 3,510,000 shares of common stock to Helena for net proceeds of $3,205,000[94]. - Financing activities generated $6,660 in cash for the nine months ended September 30, 2025, compared to $5,276 in the same period of 2024, including $3,058 from private financing[123]. - The company expects to finance its operations through public or private equity offerings, debt financings, and potential collaboration agreements[90]. Regulatory Status - The company has not yet received regulatory approval for any of its product candidates, which are still in clinical trials[86]. - The company anticipates significant and increasing expenses and operating losses as it advances its product candidates through clinical development[88]. Going Concern - The company’s ability to continue as a going concern depends on raising additional capital to meet operating needs and repay liabilities[118]. - The company had cash and cash equivalents of $5,575 and shareholders' equity of $7,664 as of September 30, 2025, with expectations to fund operations for at least 12 months[117].
Kairos Pharma, Ltd.(KAPA) - 2025 Q3 - Quarterly Report