Propanc Biopharma, Inc. reported its financial results for the six months ending December 31, 2024, revealing a net loss of $784,493, a decrease from the $935,250 loss recorded in the same period of the previous year. The company did not generate any revenue during this period, consistent with its previous fiscal performance. Operating expenses totaled $504,172, down from $855,283 in the prior year, primarily due to reduced administrative and research and development costs. The company’s cash position decreased to $14,633 from $21,085 at the end of the previous fiscal period.
The company’s total liabilities increased to $4,237,292 as of December 31, 2024, compared to $3,851,424 at June 30, 2024. This rise was attributed to an increase in accrued expenses and loans payable, particularly loans from related parties, which surged from $71,629 to $350,544. The stockholders’ deficit also widened to $4,158,759 from $3,779,059, reflecting ongoing operational losses and the impact of foreign currency translation adjustments.
Strategically, Propanc Biopharma is focused on advancing its lead product candidate, PRP, which is designed to enhance the anti-cancer effects of multiple enzymes. The company has made significant strides in its patent portfolio, holding 84 granted patents and additional applications in key global jurisdictions. In August 2024, the company announced a reverse stock split at a ratio of 1:60,000, effective January 29, 2025, aimed at improving its stock price and market perception.
Operationally, the company has not reported any significant changes in customer counts or product adoption rates, as it remains in the preclinical phase of development for its lead product. The company’s employee headcount has not been disclosed in the filing, and there are no indications of geographic expansion at this time. The focus remains on securing additional funding and advancing its research initiatives.
Looking ahead, Propanc Biopharma aims to continue its development of PRP and expand its patent portfolio. The company anticipates that the reverse stock split will enhance its ability to attract investment and support its operational goals. Management has indicated that while the current financial results reflect ongoing challenges, they remain committed to advancing their cancer treatment technologies and establishing a presence in global markets.
About Propanc Biopharma, Inc.
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