BiomX(PHGE) - 2025 Q1 - Quarterly Results

Financial Performance - The net loss for Q1 2025 was $7.7 million, significantly lower than the$17.3 million loss in Q1 2024, attributed to changes in the fair value of warrants[11]. - The net loss for the three months ended March 31, 2025, was $7,659 million, a decrease from a net loss of$17,327 million in the same period of 2024, reflecting an improvement of 55.7%[24]. - Basic and diluted loss per share of Common Stock decreased to $0.33 for the three months ended March 31, 2025, compared to$2.78 for the same period in 2024, showing a significant reduction in loss per share[24]. - The company reported a loss before tax of $7,658 million for the three months ended March 31, 2025, down from$17,322 million in the same period of 2024, reflecting a decrease of 55.7%[24]. - Operating loss for the three months ended March 31, 2025, was $7,756 million, compared to$6,785 million for the same period in 2024, indicating an increase of 14.3%[24]. Research and Development - Research and development expenses for Q1 2025 were $5.3 million, an increase from$4.1 million in Q1 2024, driven by preparations for the Phase 2b trial of BX004 and increased expenses for the BX211 trial[9]. - Research and development expenses for the three months ended March 31, 2025, were $5,250 million, up from$4,105 million in the same period of 2024, indicating an increase of 27.8%[24]. - BiomX announced positive topline results from the Phase 2 trial of BX211, showing a statistically significant reduction in ulcer size with a p-value of 0.046 at week 12[6]. - BX211 demonstrated a greater than 40% reduction in ulcer size compared to placebo by week 10, with significant improvements in ulcer depth and area expansion[14]. - The company is planning a Phase 2/3 clinical trial for BX211 pending feedback from the FDA[6]. - The company anticipates the Phase 2b readout of BX004 for cystic fibrosis in Q1 2026, supported by recent financing activities[7]. Financial Position - BiomX reported a cash balance of $21.2 million as of March 31, 2025, up from$18.0 million at the end of 2024, primarily due to financing activities[8]. - BiomX's cash resources are estimated to be sufficient to fund operations into Q1 2026[8]. - As of March 31, 2025, total current assets increased to $23,533 million from$20,520 million as of December 31, 2024, representing a growth of 14.6%[20]. - Total stockholders' equity increased to $24,499 million as of March 31, 2025, from$24,148 million as of December 31, 2024, marking a rise of 1.5%[20]. - Total current liabilities decreased to $7,021 million as of March 31, 2025, from$8,267 million as of December 31, 2024, a reduction of 15.1%[20]. - Non-current liabilities rose to $14,134 million as of March 31, 2025, from$10,818 million as of December 31, 2024, an increase of 30.5%[20]. Shareholder Information - The weighted average number of shares used in computing basic and diluted loss per share increased significantly to 23,103,105 for the three months ended March 31, 2025, compared to 6,229,228 for the same period in 2024[24].