Cynata Therapeutics Limited (AU:CYP) has released an update.
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Cynata Therapeutics Limited reported a 36.18% increase in revenue to $2.73 million and a significant reduction in net loss by 31.75% to $9.74 million for the financial year ended June 30, 2024. The company, a leader in the induced pluripotent stem cell field, has completed its first clinical trial and is advancing four clinical programs, including a Phase 2 and a Phase 3 trial. Despite these advancements and the appointment of a new Chief Business Officer, an audit raised concerns about the company’s ability to continue as a going concern.
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