BiomX Inc. reported its Q3 2025 earnings on November 12, 2025, posting a net loss of $9.2 million, a reversal of the $9.6 million net income recorded in the same quarter of 2024. The loss was driven largely by a decline in the fair value of warrants, which offset gains in operating performance.
Operating expenses fell as the company tightened its research and development and general‑administrative budgets. R&D spending dropped to $6.1 million from $7.3 million in Q3 2024, while G&A costs fell to $2.4 million from $3.2 million, reflecting disciplined cost management amid a shift toward more efficient product development cycles.
Cash and restricted cash stood at $8.1 million as of September 30, 2025, giving the company a runway that extends into the first quarter of 2026. Net cash used in operations for the nine months ended September 30 was $22.0 million, a reduction from $30.7 million for the same period in 2024, indicating improved operational cash flow.
In clinical development, BiomX received positive feedback from the U.S. Food and Drug Administration on its BX011 program for Staphylococcus aureus in diabetic foot infections, paving the way for a Phase 2a trial. The BX004 program, targeting Pseudomonas aeruginosa in cystic fibrosis, received guidance on potential Phase 3 pathways, although a U.S. clinical hold remains on the Phase 2b trial due to a third‑party nebulizer device; enrollment continues outside the U.S., and U.S. FDA feedback is expected soon.
Management provided forward guidance for the next quarter, outlining expectations for revenue, earnings, and cash flow, but specific guidance figures were not disclosed in the public briefing.
Consensus analysts had projected earnings per share of $-0.32 for the quarter; BiomX’s reported EPS was negative, missing the consensus estimate.
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