Biora Therapeutics Inc. ( (BIOR) ) has released its Q3 earnings. Here is a breakdown of the information Biora Therapeutics Inc. presented to its investors.
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Biora Therapeutics, Inc. is a clinical-stage biotechnology company that focuses on developing smart pill-based therapeutics platforms for targeted drug delivery, particularly in the gastrointestinal tract and for large molecule oral delivery.
In its latest earnings report for the third quarter of 2024, Biora Therapeutics provided updates on its progress and financial performance. The company highlighted advancements in its BioJet device and NaviCap platform, as well as efforts to maintain its Nasdaq listing compliance.
The company has made significant strides with its BioJet device by creating a smaller, more efficient version that has attracted interest from pharmaceutical partners. Biora is shifting its strategy to focus on licensing this device across multiple verticals rather than co-development. Additionally, the NaviCap platform showed promising results in a Phase 1 trial, leading to considerations for a larger clinical trial in ulcerative colitis.
Financially, Biora reported a net loss of $18.4 million for the quarter, with operating expenses slightly reduced compared to the previous quarter. The company is actively working on increasing capitalization and reducing operating expenses to sustain its programs and listing status.
Looking ahead, Biora Therapeutics plans to continue its research and development activities while securing partnerships and financial stability to advance its innovative therapeutic delivery platforms.
