Bio-Path Holdings Reports $2.9 Million Net Loss in Q1 2025

Bio-Path Holdings, Inc. reported its financial results for the first quarter of 2025, revealing a net loss of $2.9 million, a decrease from the $3.2 million loss recorded in the same period of 2024. The company did not generate any revenue during the quarter, consistent with the previous year. The net loss per share for the quarter was $0.40, a significant improvement compared to $4.88 per share in the prior year, reflecting a reduction in the weighted average number of shares outstanding due to recent capital activities.

Total operating expenses for the first quarter of 2025 were $3.2 million, down from $3.7 million in the same quarter of 2024. This decline was primarily driven by reduced research and development expenses, which fell to $2.0 million from $2.3 million year-over-year, attributed to decreased clinical trial costs for its drug candidates. General and administrative expenses also decreased to $1.3 million from $1.4 million, mainly due to lower shareholder meeting costs.

As of March 31, 2025, Bio-Path's total assets were $2.2 million, a decrease from $3.9 million at the end of 2024. Current liabilities increased to $4.7 million from $3.3 million, largely due to a rise in accounts payable and accrued expenses related to clinical trials. The company’s accumulated deficit reached $120.4 million, reflecting ongoing investments in its drug development pipeline, which includes four candidates targeting various cancer indications and obesity.

In terms of strategic developments, Bio-Path has been active in securing financing to support its operations. The company raised $0.3 million through the exercise of pre-funded warrants and entered into two promissory notes in March 2025, totaling $261,000. Additionally, it has plans to continue its clinical trials for its lead candidate, prexigebersen, and is exploring the development of BP1001-A as a potential treatment for obesity. The company anticipates that it will require substantial additional capital to fund its ongoing activities and achieve its operational goals.

Looking ahead, Bio-Path Holdings faces significant challenges in securing the necessary funding to support its clinical trials and operational expenses. The company has indicated that it may seek additional capital through public or private equity offerings, although there is no assurance that such funding will be available on favorable terms. The management remains focused on advancing its drug candidates through clinical development while navigating the complexities of the biotechnology market.