Propanc Biopharma Reports No Revenue and Increased Losses in Latest 10-Q Filing

Propanc Biopharma, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending March 31, 2025. The company recorded no revenue for both the three and nine months ended March 31, 2025, consistent with the same periods in the previous fiscal year. However, total operating expenses surged to $53.1 million for the three months and $53.6 million for the nine months, compared to $420,867 and $1.3 million, respectively, in the prior year. This increase is primarily attributed to heightened administrative expenses, which rose to $53.1 million from $348,841 in the same quarter last year.

The company’s net loss for the quarter was $54.1 million, a substantial increase from a loss of $526,700 in the same quarter of 2024. For the nine-month period, the net loss reached $54.9 million, compared to $1.5 million in the previous year. The basic and diluted net loss per share available to common stockholders was reported at $(12.50) for the quarter and $(38.62) for the nine months, reflecting the increased financial strain. The total stockholders' equity improved to $18.1 million as of March 31, 2025, compared to a deficit of $3.8 million at the end of the previous fiscal year.

In terms of operational changes, Propanc Biopharma has been focusing on its lead product candidate, PRP, which is currently in the preclinical phase of development. The company has also made strategic moves to enhance its financial position, including a reverse stock split effective January 29, 2025, at a ratio of 1:60,000. This decision was made to improve the company's stock price and facilitate future financing opportunities. Additionally, the company has been active in securing patents, with 84 granted or accepted patents related to its cancer treatment technologies.

The company’s cash position improved significantly, with cash and cash equivalents rising to $50,760 as of March 31, 2025, up from $21,085 at the end of the previous fiscal year. This increase is attributed to financing activities, including proceeds from convertible promissory notes and loans payable from related parties. However, the company continues to face challenges, as indicated by its substantial net losses and the absence of revenue generation.

Looking ahead, Propanc Biopharma aims to advance its product candidate through various stages of development while exploring additional patent opportunities. The management has indicated that the results for the nine months ended March 31, 2025, may not be indicative of the full fiscal year ending June 30, 2025, suggesting a cautious outlook as the company navigates its operational and financial challenges.