Lisata Therapeutics, Inc. reported its financial results for the third quarter of 2025, revealing a net loss of $4.2 million, a decrease from the $4.9 million loss recorded in the same period last year. The company did not generate any revenue during the quarter, consistent with the previous year. For the nine months ending September 30, 2025, Lisata recorded revenue of $70,000, attributed to an upfront license fee from a research agreement, compared to no revenue for the same period in 2024. The total operating expenses for the third quarter were $4.4 million, down from $5.3 million in the prior year, primarily due to reduced research and development costs.
The company’s operating expenses for the nine-month period also decreased to $15.2 million from $17.5 million in 2024, reflecting a reduction in both research and development and general administrative expenses. Research and development expenses fell to $6.8 million from $8.4 million, driven by lower spending on chemistry, manufacturing, and controls, as well as clinical research organization costs. General administrative expenses decreased to $8.4 million from $9.1 million, influenced by one-off settlement costs incurred in the previous year.
Lisata's cash and cash equivalents stood at approximately $19.0 million as of September 30, 2025, with total assets of $21.8 million. The company reported a working capital of about $17.0 million and stockholders' equity of $17.4 million. During the nine months ended September 30, 2025, Lisata utilized its existing cash balances to meet immediate cash requirements and raised additional funds through the issuance of shares under its At The Market Offering Agreement, generating net proceeds of $600,663.
Strategically, Lisata continues to advance its investigational product, certepetide, which is currently undergoing several Phase 2 clinical trials for various solid tumors, including metastatic pancreatic ductal adenocarcinoma. The company has also entered into a Non-Exclusive License Agreement with Catalent, which could yield up to $10.5 million in development milestone payments. Looking ahead, Lisata anticipates needing additional financing by the end of 2026 to support its operations and clinical development programs, as it continues to explore partnerships and collaborations to enhance its financial position.
About LISATA THERAPEUTICS, INC.
Lisata Therapeutics, Inc. is a clinical-stage pharmaceutical company focused on developing innovative therapies for solid tumors and major diseases. Its lead investigational drug, certepetide, enhances delivery and efficacy of anti-cancer treatments by activating a tumor-specific transport pathway. The company targets cancers like pancreatic ductal adenocarcinoma, leveraging its proprietary CendR platform to improve treatment outcomes through combination therapies and collaborations.
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