BiomX Inc. announced its financial results for the fourth quarter and full year ended December 31, 2024, on March 25, 2025. The company reported a cash balance and restricted cash of $18.0 million as of December 31, 2024, an increase from $15.9 million at the end of 2023, which does not include the $12 million in gross proceeds raised in February 2025.
For the full year 2024, net loss was $17.7 million, an improvement from $26.2 million in the prior year, mainly due to the change in the fair value of warrants from the March 2024 financing. Research and development expenses, net, increased to $24.7 million for 2024 from $16.7 million in 2023, driven by preparations for the BX004 Phase 2b trial and increased expenses for the BX211 Phase 2 trial, as well as rent expenses following the March 2024 APT acquisition.
BiomX completed a financing round in February 2025, generating approximately $12 million in gross proceeds from a registered direct offering and concurrent private placement. This funding is expected to provide sufficient capital to reach substantial inflection points, including the anticipated topline results of its BX004 Phase 2b study in the first quarter of 2026. The company estimates its cash runway extends into the first quarter of 2026.
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