Bio-Path Holdings Reports Decreased Net Loss but Faces Financial Challenges

Bio-Path Holdings, Inc. reported a net loss of $976,000 for the three months ended September 30, 2025, a decrease from a net loss of $2.1 million during the same period in 2024. For the nine months ended September 30, 2025, the company recorded a net loss of $8.4 million, compared to $7.1 million for the same period in the previous year. The decrease in net loss for the third quarter was attributed to reduced operating expenses, which totaled $488,000, down from $2.6 million in the prior year. The company did not generate any revenue during both the three and nine months ended September 30, 2025 and 2024.

The company’s total current assets decreased significantly to $663,000 as of September 30, 2025, from $3.8 million at the end of 2024. This decline was primarily due to a reduction in prepaid drug products and other current assets. Current liabilities, however, increased to $8.7 million from $3.3 million, driven by a rise in accounts payable and accrued expenses, which reflect ongoing clinical trial expenses and operational costs. The accumulated deficit also grew to $126 million, indicating ongoing financial challenges.

In terms of strategic developments, Bio-Path has been focusing on its drug candidates, particularly prexigebersen, which is in a Phase 2 clinical trial for acute myeloid leukemia (AML). The company has paused most of its clinical trials due to cash flow constraints, which has impacted research and development expenses, reducing them to $275,000 for the third quarter of 2025, down from $1.3 million in the same quarter of 2024. General and administrative expenses also saw a significant reduction, reflecting the company's efforts to conserve capital amid financial difficulties.

Operationally, Bio-Path has faced challenges, including a significant increase in accounts payable, which rose to $4.9 million as of September 30, 2025, compared to $1.3 million at the end of 2024. The company has also experienced a reduction in employee headcount due to an operational pause initiated in June 2025, which has led to the furlough of most employees. The company is currently seeking additional funding to support its operations and clinical trials, as it anticipates continued significant operating losses.

Looking ahead, Bio-Path Holdings has indicated that it will require substantial additional capital to fund its projected operating requirements. The company plans to explore various financing options, including public or private equity offerings, but acknowledges the uncertainty surrounding its ability to raise funds on favorable terms. The future of its drug development programs and overall business operations remains contingent on securing adequate financing to continue its clinical trials and operational activities.