BioCorRx Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending March 31, 2025. The company generated net revenues of $134,899, a substantial increase from $3,620 in the same period last year, marking a 3,627% rise. This growth is attributed primarily to new distribution sales from Lucemyra, an FDA-approved medication for opioid withdrawal, following the company's acquisition of related assets from USWM, LLC on March 4, 2025. Despite the revenue increase, the company reported a net loss of $851,764, a decrease from a loss of $1,237,463 in the prior year, indicating improved financial performance.
Total operating expenses rose to $1,072,845 from $972,312 year-over-year, driven by increased accounting and legal fees, which surged from $236,573 to $400,232. Research and development expenses decreased from $213,834 to $161,919, reflecting a strategic shift in resource allocation. The company also recognized grant income of $413,979, up from $112,963, due to funding from the National Institutes of Health for ongoing research projects.
In terms of operational metrics, BioCorRx's total assets increased significantly to $6.8 million as of March 31, 2025, compared to $385,941 at the end of the previous fiscal year. This growth was largely due to the acquisition of intangible assets related to the Lucemyra product line. The company’s liabilities also rose to $18.6 million, up from $12.7 million, primarily due to increased accounts payable and accrued expenses, which totaled $10.9 million.
The company’s strategic focus includes expanding its product offerings and enhancing its market presence through acquisitions and partnerships. The recent acquisition of Lucemyra is expected to bolster its revenue streams and market share in the addiction treatment sector. However, BioCorRx continues to face challenges, including a working capital deficit of $12.9 million and an accumulated deficit of $84 million, raising concerns about its ability to sustain operations without additional capital. The company plans to seek further financing through private placements and other means to support its ongoing business activities and development initiatives.
About BioCorRx Inc.
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