Ainos, Inc. reported its financial results for the fiscal year ended December 31, 2024, with a net loss of US$14.9 million. This represents a widening of the loss by 7.9% compared to the US$13.8 million loss reported in fiscal year 2023. The company's Chairman and CEO, Chun-Hsien (Eddy) Tsai, noted 2024 as a pivotal year transitioning from its COVID-19 antigen rapid test business to advancing VELDONA and AI Nose programs.
The company highlighted key developments during the year, including the unveiling of its AI Nose for robotics application and inviting global robotics companies to join the Ainos Alliance. Additionally, Ainos advanced its VELDONA development with a key Japan patent, a partnership with Taiwan Tanabe, and IRB approval for a Sjögren's syndrome clinical study. These strategic initiatives reflect significant investments in R&D and commercialization efforts.
While the net loss widened, the company's focus on its dual-platform strategy indicates a long-term investment in new growth areas. The financial results underscore the costs associated with pioneering new technologies and expanding into new markets. The company is positioning itself for future revenue generation from its AI-powered scent digitization and therapeutic programs.
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