Enlivex Therapeutics .(US:ENLV)2025-11-14 21:30Financial Performance - The net loss for the nine months ended September 30, 2025, was $7,525,000, compared to a net loss of $9,838,000 for the same period in 2024, reflecting a 23.5% improvement[7]. - Basic and diluted loss per share improved from $(0.50) in the nine months ended September 30, 2024, to $(0.31) in the same period of 2025[7]. - Total operating expenses for the nine months ended September 30, 2025, were $9,168,000, down from $10,256,000 in the same period of 2024, a decrease of approximately 10.6%[7]. - The company expects to continue incurring losses for at least the next several years and will need to raise additional financing to support its development activities[22]. - The company has not generated any revenues or product sales since its inception and has not achieved profitable operations[21]. Assets and Equity - Total assets decreased from $27,687,000 as of December 31, 2024, to $20,938,000 as of September 30, 2025, representing a decline of approximately 24.4%[5]. - Current assets decreased from $25,993,000 to $19,498,000, a reduction of about 25%[5]. - Total shareholders' equity decreased from $23,589,000 as of December 31, 2024, to $17,481,000 as of September 30, 2025, a decline of approximately 25.9%[5]. - Cash and cash equivalents increased from $3,301,000 to $4,083,000, an increase of about 23.6%[5]. - As of September 30, 2025, the company reported an accumulated deficit of $134,632 thousand[21]. Expenses - Research and development expenses for the three months ended September 30, 2025, were $1,484,000, down 36.8% from $2,348,000 in the same period of 2024[7]. - General and administrative expenses increased by 39.2% from $771,000 in Q3 2024 to $1,073,000 in Q3 2025[7]. - Total prepaid expenses and other receivables decreased to $1,289,000 as of September 30, 2025, compared to $2,299,000 as of December 31, 2024, indicating a reduction of approximately 43.9%[40]. - The total operating lease liabilities increased to $701,000 as of September 30, 2025, compared to $534,000 as of December 31, 2024, representing an increase of approximately 31.2%[47]. Cash Flow and Investments - The company generated cash flows from investing activities of $8,057 thousand for the nine months ended September 30, 2025, compared to $5,701 thousand for the same period in 2024[16]. - The company reported a cash and cash equivalents balance of $4,547 thousand as of September 30, 2025, up from $3,196 thousand at the end of the same period in 2024[16]. - The total short-term deposits decreased to $14,120,000 as of September 30, 2025, down from $20,195,000 as of December 31, 2024, reflecting a decline of about 30%[39]. Shareholder Information - The weighted average number of shares outstanding increased from 19,855,137 in the nine months ended September 30, 2024, to 23,898,093 in the same period of 2025[7]. - The number of outstanding warrants as of September 30, 2025, was 7,622,359, with a weighted average exercise price of $1.98[51]. - During the nine months ended September 30, 2025, the company issued 480,146 Ordinary Shares under its ATM agreement for gross consideration of $649,000[52]. - As of September 30, 2025, 6,900,704 Ordinary Shares were authorized for issuance under the 2019 Equity Incentive Plan, with 2,176,424 shares available for future grant[55]. Research and Development - The company announced a 24% reduction in knee pain and a 26% improvement in knee function in the Allocetra treatment arm compared to placebo in its phase I/II trial[23]. - The company reported a favorable safety profile for Allocetra, with no serious adverse events reported during the trial[23]. - The company plans to finance its operations through issuances of equity securities and expects to require additional cash investment for research and development activities[21][25]. Compensation and Stock Options - The Company recognized share-based compensation expenses of $104 thousand and $316 thousand for the three months ended September 30, 2025 and 2024, respectively, and $222 thousand and $682 thousand for the nine months ended September 30, 2025 and 2024, respectively[53]. - The total share-based compensation expense related to restricted stock units not yet recognized as of September 30, 2025 was $698 thousand, expected to be recognized over a weighted average period of 0.77 years[59]. - The number of non-vested restricted stock units at the end of the period was 1,045,398 shares with a weighted average grant date fair value of $1.41[56]. - The Company had 2,870,556 options outstanding at the end of the period with a weighted average exercise price of $5.38 as of September 30, 2025[56].