BiomX Reports Fourth Quarter and Full Year 2024 Financial Results and Provides Business and Program Updates

Core Insights - BiomX Inc. reported financial results for Q4 and full year 2024, highlighting progress in clinical trials and financing activities [1][6][5] - The company is finalizing the analysis of topline results from the Phase 2 trial of BX211, with results expected by the end of March 2025 [2][7] - BiomX completed a financing round in Q1 2025, generating $12 million in gross proceeds to support ongoing clinical trials and regulatory discussions [2][5] Clinical Program Updates - BX211 is being evaluated for the treatment of diabetic foot osteomyelitis (DFO) associated with Staphylococcus aureus, with topline results expected by the end of March 2025 [3][7] - BX004 is a fixed phage cocktail targeting cystic fibrosis patients with chronic pulmonary infections caused by Pseudomonas aeruginosa, with topline results anticipated in Q1 2026 [4][15] Financial Performance - As of December 31, 2024, the cash balance was $18 million, an increase from $15.9 million in 2023, primarily due to funds raised in March 2024 [6] - Research and development expenses for 2024 were $24.7 million, up from $16.7 million in 2023, driven by preparations for clinical trials and increased operational costs [9] - The net loss for 2024 was $17.7 million, a decrease from $26.2 million in the prior year, attributed to changes in the fair value of warrants [13] Business Update - BiomX entered into a securities purchase agreement in February 2025, raising approximately $12 million to fund its clinical studies [5] - The company expects to have sufficient funding to reach significant milestones, including topline results for BX004 in Q1 2026 [5][8] Impairments and Expenses - Goodwill impairment for 2024 was $0.8 million, and in-process research and development impairment was $3.2 million, both resulting from the acquisition of Adaptive Phage Therapeutics [11][12] - General and administrative expenses increased to $11.8 million in 2024 from $8.7 million in 2023, mainly due to the consolidation of expenses following the acquisition [10]