PharmaCyte Biotech(PMCB) - 2022 Q4 - Annual Report

Financial Position - As of April 30, 2022, the company's cash and cash equivalents totaled approximately $85.4 million, a significant increase from approximately $2.2 million as of April 30, 2021[456]. - The company raised approximately $87.4 million during the year ended April 30, 2022, through various offerings and warrant exercises[460]. - The company experienced an increase in cash of $83,198,550 for the year ended April 30, 2022, compared to an increase of $1,307,245 in 2021[469]. - Net cash provided by financing activities for the year ended April 30, 2022, was $87,311,244, significantly higher than $4,636,807 in 2021[469]. - The effect of currency rate exchange contributed $4,625 to cash flow for the year ended April 30, 2022, compared to $1,327 in 2021[469]. Operating Expenses - The total operating expenses for the year ended April 30, 2022, increased by $769,033 to $4,392,014 from $3,622,981 in the previous year, primarily due to increases in compensation, legal, and professional expenses[464]. - Operating expenses for R&D decreased by 25% to $690,937 in 2022 from $916,249 in 2021[465]. - Compensation expenses increased by 8% to $1,544,751 in 2022 from $1,429,150 in 2021[465]. - Research and development expenses are expensed as incurred, with costs for acquiring technologies utilized in R&D also expensed immediately[475]. Revenue and Income - The company reported no revenues for the fiscal years ended April 30, 2022, and 2021[463]. - Other income for the year ended April 30, 2022, was $152,853, compared to a net expense of $71,745 for the year ended April 30, 2021, primarily due to interest income of $157,645[467]. Clinical Trials and Research - The company is preparing for a Phase 2b clinical trial in LAPC, which has been placed on clinical hold by the FDA[442][443]. - The company has developed a potential therapy for Type 1 diabetes using encapsulated genetically modified insulin-producing cells[446]. - The company is exploring the use of its Cell-in-a-Box technology for therapies involving prodrugs based on constituents of the Cannabis plant, pending FDA approval[445]. - The company faces potential delays in clinical trials due to COVID-19, impacting various operational aspects including patient enrollment and supply chain[450][451]. Financial Reporting - Basic net loss per share for the year ended April 30, 2022, was calculated using the weighted-average number of shares outstanding, with potentially dilutive stock options excluded due to anti-dilutive effects[477]. - The company follows U.S. GAAP for financial reporting, requiring management to make estimates and judgments that could materially affect reported financial results[473]. Investing Activities - The company had no investing activities for the years ended April 30, 2022, and 2021[471].