ProtoKinetix Reports Increased Net Loss and Operating Expenses for Six Months Ending June 30, 2025

ProtoKinetix, Inc. has reported its financial results for the six months ending June 30, 2025, revealing a net loss of $188,757, an increase from a loss of $177,103 during the same period in 2024. The company's total operating expenses rose to $188,757, compared to $177,103 in the previous year, primarily driven by increased professional fees and research and development costs. General and administrative expenses saw a slight increase from $27,335 to $28,852, while professional fees rose significantly from $67,802 to $76,149 due to higher auditing and legal costs. Research and development expenditures also increased marginally from $57,625 to $58,208.

In terms of balance sheet performance, ProtoKinetix reported total assets of $474,417 as of June 30, 2025, up from $466,137 at the end of 2024. The company’s cash position improved to $112, compared to a negative cash balance of $(4,697) at the end of the previous fiscal year. However, the company continues to face challenges with a negative working capital of $(147,922), indicating a need for additional financing to support ongoing operations and research initiatives. The increase in accounts payable and accrued liabilities from $124,047 to $149,084 also reflects the company's ongoing financial pressures.

Strategically, ProtoKinetix has focused on advancing its research into synthesized Antifreeze Glycoproteins (AFGP), branded as AAGP. The company has been actively seeking partnerships and funding opportunities to support its research and development efforts. During the first half of 2025, ProtoKinetix issued 17,200,000 units of common stock and warrants in a private placement, raising $167,500, which is a decrease from the $255,000 raised in the same period of 2024. This reduction in financing reflects a shift in investor sentiment as the company continues to navigate its operational challenges.

Operationally, ProtoKinetix has maintained a consistent focus on its research objectives, although it has not yet developed a commercially viable product. The company’s employee headcount remains stable, and it continues to engage with research partners to explore cost-sharing opportunities. The company’s management has indicated that it is actively pursuing additional working capital through equity financing or related party loans to ensure continuity in its operations. The outlook remains cautious, with management acknowledging the uncertainties surrounding future funding and the potential impact of market conditions on its ability to sustain operations.

In summary, while ProtoKinetix has made some progress in its financial position and strategic initiatives, it continues to face significant challenges related to profitability and cash flow. The company’s future will largely depend on its ability to secure additional funding and successfully commercialize its research efforts in the biotechnology sector.