NurExone Exosomes
NurExone Exosomes
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  • NurExone Biologic (NRX) reported its financial results for the quarter ended September 30, 2022
  • Research and development expenses were US$0.42 million in Q3 2022, compared to US$0.04 million for the same period in 2021
  • The company intends to continue completing different scientific initiatives across various verticals to grow its technology platform
  • NurExone Biologic (NRX) is unchanged, trading at C$0.38 per share

NurExone Biologic (NRX) reported its financial results for the quarter ended September 30, 2022.

Research and development expenses were US$0.42 million in Q3 2022, compared to US$0.04 million for the same period in 2021. The increase was mostly due to the extensive research and development efforts required to continue the development of the siRNA-PTEN technology and other siRNA targets.

Net loss was US$1.10 million in Q3 2022, or a loss of US$0.030 per share, compared to a net loss of US$0.26 million, or a loss of US$0.025 per share, in Q3 2021.

General and administrative expenses were US$0.57 million in Q3 2022, compared to US$0.23 million for the same period in 2021. This jump was thanks a US$0.10 million increase in service providers, as well as an increase of US$0.10 million in salaries and share-based compensation, an increase of US$0.05 million in legal expenses, an increase of US$0.03 million in insurance expenses, and an increase of US$0.06 million in fees and other expenses.

Looking ahead, the company intends to continue completing different scientific initiatives across various verticals to grow its technology platform.

NurExone CEO Dr. Lior Shaltiel said that obtaining U.S. FDA approval for their drug platform remains a priority for NurExone. The company intends to continue working towards expediting this process by submitting a Pre-IND meeting request.

“In addition to pursuing our regulatory objective, we are advancing other areas of our business, including securing more international collaborations with biotechnology companies and completing more key scientific initiatives. We have also strengthened our balance sheet by settling EnerSpar Corp.’s debts (the predecessor company to NurExone) that were incurred prior to our go-public listing.”

NurExone Biologic (NRX) is a pharmaceutical company developing a platform for biologically-guided ExoTherapy to be delivered, non-invasively, to patients who suffered traumatic spinal cord injuries.

NurExone Biologic (NRX) is unchanged, trading at C$0.38 per share.


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