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Serina Therapeutics Reports Second Quarter 2024 Financial Results and Provides Business Highlights

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Serina Therapeutics (NYSE American: SER) reported Q2 2024 financial results and business highlights. Key points include:

1. Partnership with Enable Injections for SER-252 development in Parkinson's disease
2. Presentation of POZ-lipid immunogenicity data showing potential safety improvements for mRNA-LNP formulations
3. Appointment of Dr. Srini Tenjarla as SVP of CMC & Formulation

Financial highlights:
- Cash and equivalents: $6.1 million as of June 30, 2024
- Q2 2024 revenues: $51,000 (vs $7,000 in Q2 2023)
- Q2 2024 operating expenses: $3.9 million (vs $1 million in Q2 2023)
- Q2 2024 net income: $5.2 million or $0.61 per share (basic)

The company faces going concern considerations due to projected cash flows.

Serina Therapeutics (NYSE American: SER) ha riportato i risultati finanziari del secondo trimestre del 2024 e i principali punti salienti aziendali. I punti chiave includono:

1. Collaborazione con Enable Injections per lo sviluppo di SER-252 nella malattia di Parkinson
2. Presentazione dei dati sull'immunogenicità dei lipidi POZ che mostrano potenziali miglioramenti della sicurezza per le formulazioni mRNA-LNP
3. Nomina del Dr. Srini Tenjarla come SVP di CMC e Formulazione

Punti salienti finanziari:
- Liquidità e equivalenti: 6,1 milioni di dollari al 30 giugno 2024
- Ricavi del secondo trimestre 2024: 51.000 dollari (rispetto a 7.000 dollari nel secondo trimestre 2023)
- Spese operative del secondo trimestre 2024: 3,9 milioni di dollari (rispetto a 1 milione di dollari nel secondo trimestre 2023)
- Utile netto del secondo trimestre 2024: 5,2 milioni di dollari, ovvero 0,61 dollari per azione (base)

L'azienda deve considerare problemi di continuità operativa a causa dei flussi di cassa previsti.

Serina Therapeutics (NYSE American: SER) reportó los resultados financieros del segundo trimestre de 2024 y los aspectos destacados del negocio. Los puntos clave incluyen:

1. Asociación con Enable Injections para el desarrollo de SER-252 en la enfermedad de Parkinson
2. Presentación de datos sobre la inmunogenicidad de los lípidos POZ que muestran posibles mejoras en la seguridad de las formulaciones de mRNA-LNP
3. Designación del Dr. Srini Tenjarla como SVP de CMC y Formulación

Aspectos financieros destacados:
- Efectivo y equivalentes: 6.1 millones de dólares al 30 de junio de 2024
- Ingresos del segundo trimestre de 2024: 51,000 dólares (frente a 7,000 dólares en el segundo trimestre de 2023)
- Gastos operativos del segundo trimestre de 2024: 3.9 millones de dólares (frente a 1 millón de dólares en el segundo trimestre de 2023)
- Ingreso neto del segundo trimestre de 2024: 5.2 millones de dólares o 0.61 dólares por acción (básico)

La empresa enfrenta consideraciones sobre su capacidad para continuar, debido a los flujos de caja proyectados.

Serina Therapeutics (NYSE American: SER)는 2024년 2분기 재무 결과 및 사업 주요 사항을 보고했습니다. 주요 내용은 다음과 같습니다:

1. 파킨슨병 치료를 위한 SER-252 개발을 위한 Enable Injections와의 파트너십
2. mRNA-LNP 제형의 안전성 향상을 보여주는 POZ-지질 면역원성 데이터 발표
3. Dr. Srini Tenjarla를 CMC 및 제형의 SVP로 임명

재무 요약:
- 2024년 6월 30일 기준 현금 및 현금성 자산: 610만 달러
- 2024년 2분기 수익: 51,000달러 (2023년 2분기 7,000달러 대비)
- 2024년 2분기 운영 비용: 390만 달러 (2023년 2분기 100만 달러 대비)
- 2024년 2분기 순이익: 520만 달러 또는 주당 0.61달러 (기본)

회사는 예상되는 현금 흐름으로 인해 지속성 문제를 고려해야 합니다.

Serina Therapeutics (NYSE American: SER) a annoncé les résultats financiers du deuxième trimestre 2024 ainsi que les points forts de l'entreprise. Les points clés comprennent :

1. Partenariat avec Enable Injections pour le développement de SER-252 dans la maladie de Parkinson
2. Présentation des données d'immunogénicité des lipides POZ montrant des améliorations potentielles de sécurité pour les formulations mRNA-LNP
3. Nommer le Dr Srini Tenjarla au poste de SVP CMC et Formulation

Points financiers marquants :
- Liquidités et équivalents : 6,1 millions de dollars au 30 juin 2024
- Revenus du deuxième trimestre 2024 : 51 000 dollars (contre 7 000 dollars au deuxième trimestre 2023)
- Dépenses d'exploitation du deuxième trimestre 2024 : 3,9 millions de dollars (contre 1 million de dollars au deuxième trimestre 2023)
- Bénéfice net du deuxième trimestre 2024 : 5,2 millions de dollars ou 0,61 dollar par action (de base)

L'entreprise doit prendre en compte des considérations de continuité en raison des flux de trésorerie projetés.

Serina Therapeutics (NYSE American: SER) hat die finanziellen Ergebnisse für das zweite Quartal 2024 sowie die Highlights des Unternehmens berichtet. Die wichtigsten Punkte sind:

1. Partnerschaft mit Enable Injections zur Entwicklung von SER-252 bei Parkinson
2. Präsentation von Immunogenitätsdaten zu POZ-Lipiden, die mögliche Sicherheitsverbesserungen für mRNA-LNP-Formulierungen zeigen
3. Ernennung von Dr. Srini Tenjarla zum SVP für CMC & Formulierung

Finanzielle Höhepunkte:
- Zahlungsmittel und Zahlungsmitteläquivalente: 6,1 Millionen USD zum 30. Juni 2024
- Einnahmen im 2. Quartal 2024: 51.000 USD (im Vergleich zu 7.000 USD im 2. Quartal 2023)
- Betriebskosten im 2. Quartal 2024: 3,9 Millionen USD (im Vergleich zu 1 Million USD im 2. Quartal 2023)
- Nettogewinn im 2. Quartal 2024: 5,2 Millionen USD oder 0,61 USD pro Aktie (Basis)

Das Unternehmen sieht sich aufgrund der prognostizierten Cashflows mit Bedenken hinsichtlich der Fortführungsfähigkeit konfrontiert.

Positive
  • Partnership with Enable Injections for SER-252 development in Parkinson's disease
  • POZ-lipid technology shows potential to mitigate adverse effects in mRNA-LNP formulations
  • Appointment of experienced Dr. Srini Tenjarla as SVP of CMC & Formulation
  • Q2 2024 net income of $5.2 million, compared to $0.8 million in Q2 2023
  • Increase in revenues from $7,000 in Q2 2023 to $51,000 in Q2 2024
Negative
  • Operating expenses increased from $1 million in Q2 2023 to $3.9 million in Q2 2024
  • Research and development expenses increased by $1.1 million compared to Q2 2023
  • General and administrative expenses increased by $1.8 million compared to Q2 2023
  • Company faces going concern considerations due to projected cash flows
  • Current cash and expected proceeds may not be sufficient for 12 months of operations

Serina Therapeutics' Q2 2024 results reveal a complex financial picture. While revenues increased to $51,000 from $7,000 year-over-year, operating expenses surged to $3.9 million from $1 million. The net income of $5.2 million is primarily due to a $9.3 million change in fair value of derivative warrant liabilities, masking underlying operational challenges.

The company's cash position of $6.1 million and expected $10 million from Juvenescence warrants are insufficient for the next 12 months, raising substantial doubt about its going concern. With $11.2 million owed to Juvenescence, Serina's financial stability is precarious, necessitating immediate strategic action to secure additional funding or reduce burn rate.

Serina's partnership with Enable Injections for SER-252 (POZ-apomorphine) is a strategic move in Parkinson's disease treatment. The enFuse™ technology could potentially improve patient compliance and reduce healthcare costs. However, with the Phase 1 trial planned for 2025, revenue impact is distant.

The company's POZ-lipid technology shows promise in addressing immunogenicity issues in mRNA-LNP formulations. This could be a significant differentiator in the competitive mRNA space, potentially leading to licensing opportunities or partnerships. Dr. Tenjarla's appointment brings valuable expertise in drug development, which could accelerate Serina's pipeline progress. Despite these positives, the lack of near-term catalysts and financial constraints may hinder rapid advancement of these promising technologies.

HUNTSVILLE, Aug. 09, 2024 (GLOBE NEWSWIRE) -- Serina Therapeutics (“Serina”) (NYSE American: SER), a clinical-stage biotechnology company developing its proprietary POZ Platform drug delivery technology, today reported financial results for the quarter ended June 30, 2024 and provided business highlights.

Recent Highlights

 Partnership with Enable Injections. The Company will develop and commercialize SER-252 (POZ-apomorphine) in combination with enFuseTM for the treatment of Parkinson’s disease. The enFuseTM wearable technology from Enable is designed to overcome both IV infusion and other subcutaneous administration method shortcomings through fast, simple, and convenient delivery, benefiting patients, providers, as well as payers, with the ability for at home self-administration. The Company anticipates submission of an Investigational New Drug (IND) application to the U.S. Food and Drug Administration with plans to initiate a Phase 1 clinical trial in advanced Parkinson’s disease patients in 2025.
   
 Presentation of POZ-lipid immunogenicity data. The Company presented novel data on Serina’s innovative POZ-lipid, a proprietary technology that aims to significantly advance the safety and efficacy of mRNA-LNP formulations. These data show that POZ-lipid does not induce an IgM or IgG antibody response, even with repeated dosing in in vivo models. This finding is crucial because the PEG-lipids currently used in mRNA vaccines can elicit an anti-PEG antibody response. This response is associated with serious adverse events, including anaphylaxis, which can pose a life-threatening risk to patients. Serina’s POZ-lipid technology can potentially mitigate these adverse effects, thereby enhancing the safety and efficacy profile of mRNA-LNP medicines.
   
 Appointment of Dr. Srini Tenjarla as Senior Vice President of CMC & Formulation. Dr. Tenjarla joins Serina Therapeutics from Takeda Pharmaceuticals, where he served as Vice President and Head of Drug Product Development and Process Chemistry Development/Outsourcing in Pharmaceutical Sciences. Prior to his tenure at Takeda, Dr. Tenjarla held several leadership roles at Shire Pharmaceuticals, culminating in his position as Vice President of Pharmaceutical Sciences. Dr. Tenjarla has a proven track record in advancing programs through clinical phases to NDA/BLA submission and approval.
   

Liquidity and Capital Resources

On May 8, 2024, the repayment date of the Company’s borrowings under the Juvenescence Secured Note was extended from May 9, 2024 to December 31, 2024 and the line of credit increased by an additional $525,000 which we received entirely on May 9, 2024.

Balance Sheet Information

Cash, cash equivalents, and restricted cash totaled $6.1 million as of June 30, 2024. As of June 30, 2024, the Company owed Juvenescence Limited $11.2 million in principal and origination fees on account of loans extended to the Company.

Second Quarter Operating Results

Revenues: Revenues comprised entirely of grant revenues from the National Institutes of Health in the amount of $51,000 and $7,000 for the second quarter of 2024 and in the same period in 2023, respectively.

Operating expenses: Operating expenses for the three months ended June 30, 2024 were $3.9 million, as compared with $1 million for the same period in 2023.

Research and development expenses for the three months ended June 30, 2024 increased by approximately $1.1 million to $1.6 million from $0.5 million during the same period in 2023. The net increase was primarily attributable to a non-recurring $0.3 million severance expense, increases of $0.4 million in salaries and payroll related expenses and consulting services allocable to research and development expenses, $0.3 million in patent related professional fees primarily for the maintenance of certain patent and other intellectual property and biological material assets included in Legacy Assets, and $0.1 million in laboratory supplies and depreciation expenses allocable to research and development expenses.

General and administrative expenses for the three months ended June 30, 2024 increased by $1.8 million to $2.3 million as compared to $0.5 million during the same period in 2023. The net increase is attributable to increases of $0.6 million in professional legal and accounting services incurred largely in connection with the Merger which consummated on March 26, 2024, $0.5 million in director compensation and consulting services and noncash stock-based compensation for options granted to directors and consultants allocable to general and administrative expenses, $0.2 million in insurance expenses, $0.2 million in market research and Company website development related expenses, $0.1 million in salaries and payroll related expenses allocable to general and administrative expenses, $0.1 million in recruiting and hiring expenses, $0.1 million in rent and facilities maintenance related expenses, and $0.1 million in investor and public relations related expenses. These increases were offset to some extent by a $0.1 million decrease in miscellaneous expenses.

Other income, net: Net other income for the three months ended June 30, 2024 is primarily comprised of $9.3 million change in fair value of derivative warrant liabilities offset to some extent by $0.3 million amortization of deferred debt issuance costs and other debt related expenses.

Net income: The net income attributable to Serina for the three months ended June 30, 2024 was $5.2 million, or $0.61 per share (basic) and $0.51 per share (diluted) compared to net income of $0.8 million, or $0.37 per share (basic) and $0.11 per share (diluted), for 2023. Net loss for the three months ended June 30, 2024 as compared to net income in 2023 is partially attributable to the ramp up of operating activities following the consummation of the Merger on March 26, 2024 offset by the net change in fair value of derivative warrant liabilities and convertible promissory notes.

Going Concern Considerations

As required under Accounting Standards Update 2014-15, Presentation of Financial Statements-Going Concern (ASC 205-40), the Company evaluates whether conditions and/or events raise substantial doubt about its ability to meet its future financial obligations as they become due within one year after the date its financial statements are issued. Based on the Company’s most recent projected cash flows, the Company believes that its cash and cash equivalents of $6.1 million as of June 30, 2024 along with the approximately $10 million of cash proceeds expected to be received from Juvenescence through the exercise of Juvenescence’s remaining Post-Merger Warrants as provided in a “Side Letter” would not be sufficient to satisfy the Company’s anticipated operating and other funding requirements for the twelve months following the filing of the Company’s Quarterly Report on Form 10-Q for the three and six months ended June 30, 2024. These factors raise substantial doubt regarding the ability of the Company to continue as a going concern.

About SER-252 (POZ-apomorphine)

SER 252 is an investigational apomorphine therapy developed with Serina’s POZ platform and designed to provide continuous dopaminergic stimulation (CDS). CDS has been shown to reduce the severity of levodopa-related motor complications (dyskinesia) in Parkinson’s disease. Preclinical studies support the potential of SER 252 to provide CDS without skin reactions. Serina plans to advance SER 252 to clinical testing in 2025.

About the POZ Platform

Serina’s proprietary POZ technology is based on a synthetic, water soluble, low viscosity polymer called poly(2-oxazoline). Serina’s POZ technology is engineered to provide greater control in drug loading and more precision in the rate of release of attached drugs delivered via subcutaneous injection. The therapeutic agents in Serina’s product candidates are typically well-understood and marketed drugs that are effective but are limited by pharmacokinetic profiles that can include toxicity, side effects and short half-life. Serina believes that by using POZ technology, drugs with narrow therapeutic windows can be designed to maintain more desirable and stable levels in the blood.

Serina’s POZ platform delivery technology has potential for use across a broad range of payloads and indications. Serina intends to advance additional applications of the POZ platform via out-licensing, co-development, or other partnership arrangements, including the non-exclusive license agreement with Pfizer, Inc. to use Serina’s POZ polymer technology for use in lipid nanoparticle drug (LNP) delivery formulations.

About Serina Therapeutics

Serina is a clinical-stage biotechnology company developing a pipeline of wholly owned drug product candidates to treat neurological diseases and pain. Serina’s POZ PlatformTM delivery technology is engineered to provide greater control in drug loading and more precision in the rate of release of attached drugs, enabling the potential of challenging small molecules, while addressing the limitations of PEG (polyethylene glycol) and other biocompatible polymers. In addition, our POZ PlatformTM partners are at the forefront in advancing lipid nanoparticle (LNP) delivery technology to develop novel RNA therapeutics. Serina is headquartered in Huntsville, Alabama on the campus of the HudsonAlpha Institute of Biotechnology.

For more information, please visit https://serinatherapeutics.com.

Cautionary Statement Regarding Forward-Looking Statement

This release contains forward-looking statements within the meaning of federal securities laws. These statements are based on management’s current expectations, plans, beliefs or forecasts for the future, and are subject to uncertainty and changes in circumstances. Any express or implied statements in this press release that are not statements of historical fact, including statements about the potential of Serina’s POZ polymer technology, are forward-looking statements that involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things, the uncertainties inherent in research and development, including the ability to meet anticipated clinical endpoints, commencement and/or completion dates for clinical trials, regulatory submission dates, regulatory approval dates and/or launch dates, as well as the possibility of unfavorable new clinical data and further analyses of existing clinical data; the risk that clinical trial data are subject to differing interpretations and assessments by regulatory authorities; whether regulatory authorities will be satisfied with the design of and results from our clinical studies; whether and when any applications may be filed for any drug or vaccine candidates in any jurisdictions; whether and when regulatory authorities may approve any potential applications that may be filed for any drug or vaccine candidates in any jurisdictions, which will depend on a myriad of factors, including making a determination as to whether the product’s benefits outweigh its known risks and determination of the product’s efficacy and, if approved, whether any such drug or vaccine candidates will be commercially successful; decisions by regulatory authorities impacting labeling, manufacturing processes, safety and/or other matters that could affect the availability or commercial potential of any drug or vaccine candidates; and competitive developments. These risks as well as other risks are more fully discussed in the company’s Annual Report on Form 10-K for the year ended December 31, 2023, the company’s Current Report on Form 8-K that was filed with the SEC on April 1, 2024, and the company’s other periodic reports and documents filed from time to time with the SEC.

The Information contained in this release Is as of the date hereof, and Serina assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.

For inquiries, please contact:

Investor.relations@serinatherapeutics.com
(256) 327-9630

SERINA THERAPEUTICS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except par value amounts)

  June 30, 2024  December 31, 2023 
   (unaudited)     
ASSETS        
Current assets:        
Cash and cash equivalents $6,064  $7,619 
Grant receivable  51   - 
Prepaid expenses and other current assets  2,802   - 
Total current assets  8,917   7,619 
         
Restricted cash  50   - 
Property and equipment, net  540   573 
Right of use assets - operating leases  562   666 
Right of use assets - finance leases  98   110 
Intangible assets, net  541   - 
TOTAL ASSETS $10,708  $8,968 
         
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK, AND STOCKHOLDERS’ DEFICIT        
Current liabilities:        
Accounts payable and accrued liabilities $1,972  $1,163 
Loans due to Juvenescence, net of debt issuance costs  10,445   - 
Current portion of operating lease liabilities  200   214 
Current portion of finance lease liabilities  11   36 
Other current liabilities  5   - 
Total current liabilities  12,633   1,413 
         
Warrant liability  13,413   - 
Loans due to Juvenescence  693   - 
Convertible promissory notes, at fair value  -   2,983 
Operating lease liabilities, net of current portion  362   461 
Finance lease liabilities, net of current portion  -   1 
TOTAL LIABILITIES  27,101   4,858 
         
Commitments and contingencies        
         
Redeemable Convertible Preferred Stock:        
Redeemable convertible preferred stock, $0.01 par value; 10,000 authorized; nil and 3,438 issued and outstanding at June 30, 2024 and December 31, 2023, respectively  -   36,404 
Stockholders’ deficit:        
Preferred stock, $0.0001 par value, 5,000 shares authorized; none issued and outstanding  -   - 
Common stock, $0.0001 par value, 40,000 shares authorized; and 8,792 and 2,410 shares issued and outstanding  1   25 
Additional paid-in capital  6,821   858 
Accumulated deficit  (23,185)  (33,177)
Total Serina Therapeutics, Inc. stockholders’ deficit  (16,363)  (32,294)
Noncontrolling interest  (30)  - 
Total stockholders’ deficit  (16,393)  (32,294)
TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK, AND STOCKHOLDERS’ DEFICIT $10,708  $8,968 

  

SERINA THERAPEUTICS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)

  Three Months Ended
June 30,
  Six Months Ended
June 30,
 
  2024  2023  2024  2023 
REVENUES                
Grant revenues $51  $7  $56  $37 
Total revenues  51   7   56   37 
                 
OPERATING EXPENSES                
Research and development  1,594   479   2,700   878 
General and administrative  2,323   473   3,543   1,066 
Total operating expenses  3,917   952   6,243   1,944 
                 
Loss from operations  (3,866)  (945)  (6,187)  (1,907)
                 
OTHER INCOME (EXPENSE), NET                
Interest expense, net  (242)  (108)  (341)  (194)
Fair value inception adjustment on convertible promissory note  -   -   -   2,240 
Change in fair value of convertible promissory notes  -   1,570   (7,017)  1,864 
Change in fair value of warrants  9,294   291   3,716   463 
Other expense, net  (9)  -   (9)  - 
Total other income (expense), net  9,043   1,753   (3,651)  4,373 
                 
NET INCOME (LOSS)  5,177   808   (9,838)  2,466 
Net loss attributable to noncontrolling interest  27   -   27   - 
                 
NET INCOME (LOSS) ATTRIBUTABLE TO SERINA $5,204  $808  $(9,811) $2,466 
                 
NET EARNINGS (LOSS) PER COMMON SHARE:                
BASIC $0.61  $0.37  $(1.74) $1.14 
DILUTED $0.51  $0.11  $(1.74) $0.34 
                 
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:                
BASIC  8,514   2,172   5,652   2,170 
DILUTED  10,157   7,434   5,652   7,427 


SERINA THERAPEUTICS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)

  Six Months Ended
June 30,
 
  2024  2023 
OPERATING ACTIVITIES:        
Net income (loss) attributable to Serina $(9,811) $2,466 
Net income (loss) attributable to noncontrolling interest  (27)  - 
Adjustments to reconcile net income (loss) attributable to Serina to net cash used in operating activities:        
Depreciation and amortization  82   30 
Non-cash lease expense  116   90 
Amortization of debt issuance costs  329   - 
Stock-based compensation  511   25 
Fair value inception adjustment on convertible promissory note  -   (2,240)
Change in fair value of convertible promissory notes  7,017   (1,864)
Change in fair value of warrants  (3,716)  (463)
Changes in operating assets and liabilities:        
Grant receivable  15   - 
Prepaid expenses and other current assets  (2,694)  1 
Accounts payable and accrued liabilities  (1,398)  185 
Accrued interest on convertible promissory notes  163   282 
Operating lease liabilities  (112)  (85)
Related party payables  (66)  - 
Other current liabilities  5   - 
Net cash used in operating activities  (9,586)  (1,573)
         
INVESTING ACTIVITIES:        
Purchase of equipment  (14)  (315)
Net cash used in investing activities  (14)  (315)
         
FINANCING ACTIVITIES:        
Drawdown on loan facilities from Juvenescence  2,925   - 
Cash and restricted cash acquired in connection with the Merger  337   - 
Proceeds from the exercise of stock options  4   1 
Proceeds from the exercise of Post-Merger Warrants by Juvenescence  4,988   - 
Proceeds from the issuance of convertible promissory notes  -   10,100 
Principal repayment on loan facilities to Juvenescence  (133)  - 
Principal repayments on finance lease liabilities  (26)  (23)
Net cash provided by financing activities  8,095   10,078 
         
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH  (1,505)  8,190 
         
CASH, CASH EQUIVALENTS AND RESTRICTED CASH:        
At beginning of the period  7,619   532 
At end of the period $6,114  $8,722 

FAQ

What were Serina Therapeutics' (SER) Q2 2024 financial results?

Serina Therapeutics reported Q2 2024 revenues of $51,000, operating expenses of $3.9 million, and a net income of $5.2 million or $0.61 per share (basic).

What is the cash position of Serina Therapeutics (SER) as of June 30, 2024?

Serina Therapeutics reported cash, cash equivalents, and restricted cash totaling $6.1 million as of June 30, 2024.

What major partnership did Serina Therapeutics (SER) announce in Q2 2024?

Serina Therapeutics announced a partnership with Enable Injections to develop and commercialize SER-252 (POZ-apomorphine) for the treatment of Parkinson's disease.

What is the significance of Serina Therapeutics' (SER) POZ-lipid technology?

Serina's POZ-lipid technology shows potential to mitigate adverse effects in mRNA-LNP formulations, potentially enhancing the safety and efficacy profile of mRNA-based medicines.

Does Serina Therapeutics (SER) face any financial concerns as of Q2 2024?

Yes, Serina Therapeutics faces going concern considerations as current cash and expected proceeds may not be sufficient to fund operations for the next 12 months.

Serina Therapeutics, Inc.

NYSE:SER

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