BioRestorative Therapies, Inc. reported its financial results for the first quarter of 2025, revealing a decline in revenue and an increase in net loss compared to the same period in 2024. The company generated $25,000 in revenue for the three months ended March 31, 2025, down from $35,000 in the prior year. This decrease was attributed to a reduction in disc procedures under its sublicense agreement with a stem cell treatment company. The net loss for the quarter was $5.34 million, significantly higher than the $2.22 million loss reported in the same quarter of 2024, reflecting increased operating expenses and changes in fair value of warrant liabilities.
Total operating expenses rose to $4.83 million in Q1 2025, compared to $4.14 million in Q1 2024. The increase was primarily driven by a 62% rise in research and development expenses, which reached $1.71 million, largely due to higher lab supply costs and recruitment expenses for the ongoing Phase 2 clinical trial of its lead product, BRTX-100. General and administrative expenses remained relatively stable, increasing slightly to $3.12 million from $3.09 million year-over-year.
In terms of liquidity, BioRestorative reported cash and cash equivalents of $1.23 million as of March 31, 2025, up from $547,890 at the end of 2024. However, the company’s working capital decreased to $5.17 million from $7.40 million, primarily due to cash used in operations and a decline in marketable securities. The company anticipates continued net losses and negative cash flows as it executes its development plans, raising concerns about its ability to sustain operations without additional financing.
Strategically, BioRestorative is advancing its clinical programs, including the BRTX-100 for chronic lower back pain and the ThermoStem Program targeting metabolic disorders. The company has also entered into a five-year exclusive supply agreement with Cartessa Aesthetics for its first commercial product. Despite these initiatives, the company faces significant challenges, including reliance on a single customer for revenue and the need for additional capital to fund ongoing operations and development activities.
Looking ahead, BioRestorative has expressed concerns regarding its ability to continue as a going concern, emphasizing the necessity of securing additional financing to support its operations and development efforts. The company is actively exploring various funding options, including equity and debt financing, to address its financial needs and continue its strategic initiatives.
About BioRestorative Therapies, Inc.
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