Neuphoria Therapeutics Reports $15 Million Revenue and $11.3 Million Net Income for Quarter Ending March 31, 2025

Neuphoria Therapeutics Inc., a clinical-stage biotechnology company focused on developing therapies for neuropsychiatric disorders, reported significant financial developments in its latest 10-Q filing for the quarter ending March 31, 2025. The company generated $15 million in revenue during the quarter, marking a substantial increase from zero revenue in the same period last year. This revenue was primarily driven by a milestone payment from its collaboration with Merck & Co., Inc. The company also reported a net income of $11.3 million for the quarter, a notable turnaround from a net loss of $2.8 million in the prior year.

In comparison to the previous fiscal period, Neuphoria's financial performance showed marked improvement. For the nine months ending March 31, 2025, the company reported total revenue of $15.7 million, compared to no revenue in the same period last year. Operating expenses for the quarter increased to $3 million, up from $2.4 million in the prior year, largely due to heightened research and development activities associated with its lead product candidate, BNC210. The company’s accumulated deficit decreased to $169.5 million from $178 million, reflecting the positive impact of recent milestone payments.

Strategically, Neuphoria has undergone significant organizational changes, including its redomiciliation from Australia to the United States, which was completed on December 23, 2024. This transition has positioned the company to operate under U.S. regulations and has facilitated its listing on the Nasdaq under the ticker symbol "NEUP." The company has also expanded its pipeline, with BNC210 being developed for the treatment of social anxiety disorder and post-traumatic stress disorder, alongside a partnership with Merck for cognitive dysfunction therapies related to Alzheimer’s disease.

Operationally, Neuphoria reported a working capital of $15.5 million as of March 31, 2025, with cash and cash equivalents totaling $17 million. The company has not yet achieved profitability and continues to rely on external funding to support its research and development efforts. The employee headcount has remained stable, with ongoing recruitment efforts to bolster its research capabilities. The company anticipates continued increases in research and development expenses as it advances its clinical trials and seeks regulatory approvals.

Looking ahead, Neuphoria's management expressed confidence in its financial outlook, projecting that existing cash reserves will be sufficient to fund operations into the first quarter of fiscal year 2027. However, the company acknowledged the inherent risks associated with drug development and the need for additional capital to support its ongoing projects. Neuphoria plans to continue exploring various financing options, including equity offerings and collaborations, to ensure the successful advancement of its product candidates.