Acasti Pharma(ACST) - 2025 Q2 - Quarterly Results

Financial Performance - The company reported a net loss of $3.4 million, or$0.30 per share, for the quarter ended September 30, 2024, compared to a net loss of $3.3 million, or$0.43 per share, for the same period in 2023[6]. - The net loss for the three months ended September 30, 2023, was $3,432,000, compared to a net loss of$3,273,000 for the same period in 2022, indicating an increase in loss of approximately 4.9%[23]. - The company reported a basic and diluted loss per share of $0.30 for the three months ended September 30, 2023, compared to$0.43 for the same period in 2022[23]. Research and Development - Research and development expenses increased to $3.0 million for the quarter, up from$0.5 million in the same quarter of 2023, primarily due to activities related to the GTx-104 pivotal Phase 3 STRIVE-ON safety trial[7]. - Research and development expenses for the three months ended September 30, 2023, were $2,976,000, while general and administrative expenses were$1,855,000[23]. - Patient enrollment in the Phase 3 STRIVE-ON safety trial was completed ahead of schedule, with a data readout expected in the first calendar quarter of 2025[4]. Financial Position - The company had cash and cash equivalents of $15.1 million as of September 30, 2024, a decrease of$7.9 million from $23.0 million as of March 31, 2024, with a projected cash runway into the second calendar quarter of 2026[9]. - As of September 30, 2024, total assets decreased to$65,349,000 from $73,300,000 as of March 31, 2024, representing a decline of approximately 10.2$16,062,000 from $24,010,000, a decrease of about 33.1$9,215,000 from $11,557,000, a reduction of approximately 20.2$56,134,000 from $61,743,000, reflecting a decline of about 9.1$300 million[14]. - GTx-104 is a novel injectable formulation of nimodipine being developed for intravenous infusion in aSAH patients, addressing significant unmet medical needs[13]. Other Financial Metrics - The company experienced a foreign exchange gain of $13,000 for the three months ended September 30, 2023, compared to a loss of$13,000 in the previous year[23]. - The change in fair value of derivative warrant liabilities resulted in a gain of $362,000 for the three months ended September 30, 2023[23]. - General and administrative expenses were$1.9 million for the quarter, an increase of $0.3 million from$1.6 million in the same quarter of 2023[8]. - The weighted average number of shares outstanding increased to 11,506,234 for the three months ended September 30, 2023, compared to 7,552,677 for the same period in 2022[23].