Financial Position - As of September 30, 2025, Lunai Bioworks Inc. reported cash and cash equivalents of $624,808 and an accumulated deficit of $507,643,549[142]. - The company has a working capital deficit of $18,922,114, raising substantial doubt about its ability to continue as a going concern for one year after the financial statements are issued[142]. - Total assets decreased to $6,960,663 as of September 30, 2025, from $8,230,840 as of June 30, 2025, primarily due to impairments[158]. - Total liabilities decreased to $20,001,437 as of September 30, 2025, from $29,580,681 as of June 30, 2025, mainly due to reductions in notes payable and accrued expenses[159]. - The company incurred net cash used in operating activities of $1,349,110 for the three months ended September 30, 2025, compared to $2,016,328 for the same period in 2024[160]. - Cash provided by financing activities was $1,343,357 for the three months ended September 30, 2025, compared to $2,029,183 in the same period of 2024[160]. Company Performance - The company reduced operating expenses for the three months ended September 30, 2025, to $3,308,360, a decrease of $50,030,194 or approximately 94% compared to $53,338,554 in the same period of 2024[149]. - General and administrative expenses decreased by $2,890,735 or approximately 55%, from $5,301,251 in Q3 2024 to $2,410,516 in Q3 2025[150]. - Research and development expenses fell by $365,782 or approximately 94%, from $390,189 in Q3 2024 to $24,407 in Q3 2025[151]. - The company reported a net income of $2,819,021 for the three months ended September 30, 2025, compared to a net loss of $44,212,036 in the same period of 2024, representing a decrease in net loss of $47,031,057 or approximately 106%[153]. - As of September 30, 2025, the company had $624,808 in cash, an increase of 574% compared to $92,700 in cash as of June 30, 2025[157]. Business Development - Renovaro Biosciences is developing allogeneic cell and gene therapies aimed at long-term cancer remission and treatment of serious infectious diseases like HIV[117]. - The allogeneic cell therapy platform has completed the pre-IND and IND-enabling phase, focusing on solid tumors such as pancreatic and triple negative breast cancers[122]. - BioSymetrics, acquired on April 8, 2025, integrates multimodal data sources to advance biomarker discovery and precision medicine[127]. - BioSymetrics has developed proprietary machine learning pipelines for analyzing complex datasets, enhancing pharmaceutical research and early disease detection[128]. - The Phenograph knowledge graph maps human genes and phenotypes to model systems, containing 5,856 diseases and 16,676 human genes[131]. - BioSymetrics screened 1,400 compounds in a zebrafish model, identifying a hit compound that showed efficacy in a mouse seizure model[133]. - The company aims to expand its platform across biopharmaceutical and healthcare markets while complying with healthcare data privacy regulations[137]. - Lunai Bioworks Inc. has undergone several name changes and acquisitions, with the latest being the acquisition of BioSymetrics in April 2025[141]. - The company plans to secure additional funding through equity or debt financing to support commercialization and development of its AI-driven cancer diagnostics platform[143].
Renovaro Biosciences (RENB) - 2026 Q1 - Quarterly Report