Purple Biotech .(PPBT) - 2022 Q4 - Annual Report

Financial Performance - Research and development expenses for the year ended December 31, 2022 were $16.3 million, an increase of $4.5 million, or 38.1%, compared to $11.8 million for the year ended December 31, 2021[427] - Operating loss for the year ended December 31, 2022 amounted to $22.6 million, an increase of $4.7 million, or 26.3%, compared to $17.9 million for the year ended December 31, 2021[429] - Net loss for the year ended December 31, 2022 amounted to $21.8 million, or $1.20 per basic and diluted ADS, compared to a net loss of $18.5 million, or $1.01 per basic and diluted ADS, in 2021[432] - Adjusted operating loss for the year ended December 31, 2022 was $20.2 million, an increase of $4.3 million compared to $15.9 million for the year ended December 31, 2021[430] - Selling, general and administrative expenses for the year ended December 31, 2022 were $6.3 million, an increase of $0.2 million compared to $6.1 million for the year ended December 31, 2021[428] Cash Flow and Liquidity - Net cash flow used in operating activities for the year ended December 31, 2022 was approximately $16.7 million, compared to approximately $14.9 million for the year ended December 31, 2021[446] - Net cash provided by investing activities from continuing operations was $19.9 million for the year ended December 31, 2022, compared to $13.4 million for the year ended December 31, 2021[447] - As of December 31, 2022, the company had approximately $31.7 million in cash and cash equivalents, sufficient to satisfy liquidity requirements for the next 12 months[445] - The company raised approximately $1.3 million in net proceeds from the ATM program during the twelve months ended December 31, 2022[444] Foreign Exchange Impact - As of December 31, 2022, a 2% decrease in the U.S. dollars/NIS exchange rate could result in an income loss of $4,000, while a 5% decrease could lead to a loss of $10,000[705] - A 2% increase in the U.S. dollars/Euro exchange rate could result in an income loss of $21,000, while a 5% increase could lead to a loss of $53,000[705] - Cash and cash equivalents and deposits would see a potential income change of $19,000 with a 2% decrease in the U.S. dollars/NIS exchange rate[705] - Total income from changes in the U.S. dollars/NIS exchange rate shows a potential loss of $10,000 with a 5% decrease[705] - Cash and cash equivalents and deposits could experience an income change of $45,000 with a 2% decrease in the U.S. dollars/Euro exchange rate[705] - Other current assets could see an income change of $17,000 with a 2% decrease in the U.S. dollars/NIS exchange rate[705] - Accounts payable could incur a loss of $205,000 with a 5% decrease in the U.S. dollars/NIS exchange rate[705] - Other payables could incur a loss of $1,668,000 with a 5% decrease in the U.S. dollars/NIS exchange rate[705] - Post employment benefit liabilities could incur a loss of $145,000 with a 5% decrease in the U.S. dollars/NIS exchange rate[705] - Total income from changes in the U.S. dollars/Euro exchange rate shows a potential gain of $21,000 with a 2% decrease[705]