CNBX Pharmaceuticals Reports No Revenue and Improved Net Loss in Q2 FY 2025

CNBX Pharmaceuticals Inc. reported its financial results for the second quarter of fiscal year 2025, revealing a significant decline in both revenue and operating expenses compared to the same period in the previous year. The company recorded no revenue for the three months ended February 28, 2025, a decrease from $40,637 in the same quarter of 2024. For the six months ending February 28, 2025, CNBX also reported no revenue, down from $130,074 in the prior year. The company's net loss for the quarter was $69,788, a notable improvement from the $325,459 loss reported in the same quarter of the previous year. For the six-month period, the net loss was $104,140, compared to $503,982 in the prior year.

Operating expenses for CNBX Pharmaceuticals decreased significantly, totaling $64,743 for the three months ended February 28, 2025, down from $240,845 in the same period of 2024. This reduction was primarily due to a decrease in general and administrative expenses and a complete absence of research and development costs, which were $107,199 in the previous year. The company attributed these changes to a lack of funds, which has constrained its operational capabilities. The total operating expenses for the six months ended February 28, 2025, were $101,580, compared to $490,832 for the same period in 2024.

In terms of liquidity, CNBX Pharmaceuticals reported cash and cash equivalents of $45,675 as of February 28, 2025, an increase from $26,416 at the end of the previous fiscal year. The company utilized $90,741 in cash for operations during the first half of 2025, a decrease from $196,244 in the same period of 2024. The company raised $110,000 through financing activities, a significant increase from $24,993 in the prior year. However, CNBX continues to face challenges in securing additional funding, which is critical for its ongoing operations and development plans.

The company has made strategic decisions to focus on its proprietary drug candidate, RCC-33, aimed at treating colorectal cancer. CNBX plans to initiate Phase I/II clinical trials for this candidate, which is intended to reduce tumor cell activity in patients. However, the company has expressed concerns regarding its ability to continue as a going concern, citing the need for additional capital to sustain operations and meet its financial obligations. The management has indicated that future growth will depend on its ability to generate revenue or secure financing through various means, including potential partnerships or equity issuance.

Overall, CNBX Pharmaceuticals Inc. is navigating a challenging financial landscape, with a focus on advancing its clinical programs while managing its operational costs. The company’s future will largely depend on its ability to attract investment and successfully launch its drug development initiatives.