Biorestorative Therapies, Inc. ( (BRTX) ) has released its Q3 earnings. Here is a breakdown of the information Biorestorative Therapies, Inc. presented to its investors.
BioRestorative Therapies, Inc. is a regenerative medicine company specializing in stem cell-based therapies, focusing on treatments for disc/spine diseases and metabolic disorders, as well as developing BioCosmeceutical products. In its third quarter of 2024, BioRestorative reported a significant reduction in operational losses and highlighted the achievement of a provisional license from the New York State Department of Health for processing allogeneic donor tissue materials. The company also made strides in its Disc/Spine and Metabolic Programs, presenting new data on its BRTX-100 clinical trials and discussing potential licensing opportunities for its ThermoStem platform with a commercial stage regenerative medicine company. Financially, BioRestorative showed a loss from operations of $2.3 million, marking a 26% improvement year-over-year, with a strong cash position of $13.1 million and no debt. Looking ahead, the company remains optimistic about its progression towards sustainable profitability and the completion of its Phase 2 clinical trial for BRTX-100 by the end of 2024.
