PharmaCyte Biotech(PMCB) - 2021 Q4 - Annual Report

Financial Performance - The company has not generated any revenues and has accumulated a deficit of $107,409,493 as of April 30, 2021[541]. - The net loss for the year ended April 30, 2021, was $3,551,236, compared to a net loss of $3,826,888 for the year ended April 30, 2020[541]. - The total operating expenses for the year ended April 30, 2021 decreased by $203,414 to $3,622,981 from $3,826,395 in the previous year, primarily due to reduced compensation and consulting expenses[555]. - Research and Development (R&D) expenses increased by 204% to $916,249 in the year ended April 30, 2021, compared to $615,028 in the previous year[556]. - The company reported a net cash used in operating activities of $3,330,889 for the year ended April 30, 2021, compared to $2,338,373 in the previous year[561]. - The company had no revenues for the fiscal years ended April 30, 2021 and 2020[554]. - Other income for the year ended April 30, 2021 was $71,745, attributed to the forgiveness of a Paycheck Protection Program loan[559]. - The cash provided by financing activities increased to $4,636,807 in the year ended April 30, 2021, up from $2,725,848 in the previous year[561]. - The company expects to incur substantial and increasing losses in future periods as it continues its development activities[541]. - The company has not realized material revenue since commencing operations as a biotechnology company, with no assurance of future revenue generation[548]. Cash Position - Total cash in the bank was $2,202,106 as of April 30, 2021, compared to $894,861 as of April 30, 2020[541]. - As of April 30, 2021, the company had approximately $2,202,000 in cash, with cash expenditures of about $200,000 per month[549]. Capital and Financing - The company sold approximately 462,000 shares of common stock from May 1, 2020, to April 30, 2021, resulting in gross proceeds of approximately $4.7 million[547]. - The company incurred fees of approximately $472,000 related to the sale of shares under the Aeon Agreement[547]. - The company entered into an underwriting agreement for a public offering expected to raise gross proceeds of $15 million[552]. - The company is dependent on outside capital to fund its operations and may need to modify or abandon business plans if additional capital is not obtained[550]. Clinical Development - The company is preparing for a Phase 2b clinical trial in LAPC, but the FDA has placed the IND on clinical hold[527]. - The company has assembled a team of regulatory and scientific experts to address the FDA's clinical hold requirements[528]. - The company plans to develop therapies for cancer using its Cell-in-a-Box technology, including prodrugs based on cannabinoids[529]. - The company is developing a potential therapy for Type 1 and insulin-dependent Type 2 diabetes using encapsulated genetically modified insulin-producing cells[531].