Portage Biotech (US:PRTG)2025-07-25 20:25Financial Performance - The company reported a net loss of approximately $6.8 million for the fiscal year ended March 31, 2025, a significant decrease of approximately $68.6 million compared to a net loss of $75.4 million in the previous fiscal year[3]. - The total comprehensive loss for the year was $6.8 million, a significant reduction from $75.4 million in the previous year[14]. - The company reported a basic and diluted loss per share of $5.72 for Fiscal 2025, compared to $77.83 in Fiscal 2024[14]. Operating Expenses - Operating expenses totaled $7.4 million in Fiscal 2025, down from $18.2 million in Fiscal 2024, representing a decrease of approximately 59.5%[4]. - General and administrative (G&A) expenses decreased by approximately $1.4 million, or 24.9%, from $5.7 million in Fiscal 2024 to $4.3 million in Fiscal 2025[6]. - Research and development (R&D) expenses decreased by approximately $9.4 million, or 75%, from $12.5 million in Fiscal 2024 to $3.1 million in Fiscal 2025[5]. Financial Position - As of March 31, 2025, the company had cash and cash equivalents of approximately $1.7 million and total current liabilities of approximately $1.1 million[9]. - Total assets decreased from $7.8 million in Fiscal 2024 to $2.2 million in Fiscal 2025[16]. - The company’s accumulated deficit increased to approximately $245.5 million as of March 31, 2025, from $239.3 million in the previous year[16]. Tax Benefits - The company recognized a non-cash net deferred income tax benefit of $3 thousand in Fiscal 2025, compared to $10.5 million in Fiscal 2024[8].