GT Biopharma Reports Improved Net Loss of $776,000 in Q1 2025

GT Biopharma, Inc. reported its financial results for the first quarter of 2025, revealing a net loss of approximately $776,000, a significant improvement compared to a net loss of $2.3 million during the same period in 2024. The company did not generate any revenue during this quarter, consistent with its ongoing status as a clinical-stage biopharmaceutical firm focused on developing novel immune-oncology products. Operating expenses totaled $1.9 million, down 37% from $3.1 million in the prior year, primarily due to reduced selling, general, and administrative costs.

The company's research and development expenses increased by 41% to $1.1 million, reflecting ongoing investments in its TriKE® product candidates, particularly GTB-3650 and GTB-5550. The increase is attributed to heightened scientific research costs as the company advances its clinical trials. In contrast, selling, general, and administrative expenses saw a notable decrease of 62%, dropping to $830,000 from $2.2 million, largely due to cost-cutting measures that included reductions in legal and consulting fees.

GT Biopharma's balance sheet as of March 31, 2025, showed total assets of $2.7 million, down from $4.2 million at the end of 2024. Current liabilities also decreased to $3.6 million from $5.9 million, resulting in a working capital deficit of $980,000, an improvement from a deficit of $1.7 million at the end of the previous fiscal year. The company’s cash and cash equivalents stood at $2.4 million, down from $4 million at the beginning of the quarter, indicating a cash burn rate of approximately $2.2 million for the period.

In terms of strategic developments, GT Biopharma has made significant progress in its clinical pipeline, particularly with the FDA's clearance of the IND application for GTB-3650 in June 2024. The company commenced patient enrollment for clinical trials in January 2025. Additionally, GT Biopharma has engaged in financial maneuvers, including a private placement of preferred stock and warrants, which it believes will bolster its stockholders' equity to meet Nasdaq listing requirements.

Looking ahead, GT Biopharma faces substantial challenges, including the need for additional financing to sustain operations and continue its clinical development efforts. The company has expressed uncertainty regarding its ability to secure such financing, which could impact its operational capabilities and long-term viability. The management has indicated that without additional funding, it may need to delay or reduce its discretionary spending, potentially affecting its business prospects.