Bio-Path Holdings Reports $4.6 Million Net Loss and Faces Financial Challenges

Bio-Path Holdings, Inc. reported significant financial challenges in its latest 10-Q filing for the quarter ending June 30, 2025. The company recorded a net loss of $4.6 million for the three months ended June 30, 2025, compared to a net loss of $1.9 million for the same period in 2024. For the six months ended June 30, 2025, the net loss was $7.4 million, an increase from $5.0 million in the prior year. The company's total operating expenses for the second quarter of 2025 reached $4.6 million, up from $3.0 million in the same quarter of 2024, primarily driven by increased research and development costs.

In terms of liquidity, Bio-Path's cash balance fell to $0.0 million as of June 30, 2025, a decrease of $1.2 million from the end of 2024. The company reported total current assets of $0.7 million, down from $3.8 million at the end of the previous fiscal year. Current liabilities surged to $7.9 million, compared to $3.7 million at the end of 2024, largely due to increased accounts payable and accrued expenses related to clinical trials. The accumulated deficit also widened to $125.0 million as of June 30, 2025.

Strategically, Bio-Path has paused most of its operations and furloughed employees in an effort to conserve capital while seeking additional financing. The company has four drug candidates in development, including prexigebersen, which is currently undergoing a Phase 2 clinical trial for acute myeloid leukemia (AML). However, the company has faced challenges in its clinical trials, leading to increased expenses and operational pauses. The company’s research and development expenses for the first half of 2025 were $6.0 million, up from $4.1 million in the same period of 2024.

Looking ahead, Bio-Path Holdings anticipates continued significant operating losses as it seeks to advance its drug development programs. The company has indicated that it will require substantial additional capital to fund its projected operating requirements, and there is uncertainty regarding its ability to secure this funding. The company plans to explore various financing options, including public or private equity offerings, but acknowledges that there can be no assurance of success in raising additional capital.