ProtoKinetix Reports Increased Net Loss and Operating Expenses for Nine Months Ending September 30, 2025

ProtoKinetix, Inc. has reported its financial results for the nine months ending September 30, 2025, revealing a net loss of $273,663, an increase from a loss of $261,676 during the same period in 2024. The company's total operating expenses for the nine-month period were $273,662, up from $261,676 in the previous year. The increase in expenses was primarily attributed to higher professional fees, which rose to $107,991 from $98,647, and research and development costs, which increased to $82,392 from $78,625. General and administrative expenses remained relatively stable, with a slight increase from $43,589 to $45,090.

In terms of balance sheet performance, ProtoKinetix reported total assets of $477,623 as of September 30, 2025, compared to $466,137 at the end of 2024. The company’s cash position improved to $607 from a negative cash balance of $(4,697) at the end of the previous fiscal year. However, total liabilities increased significantly to $227,196 from $124,047, primarily due to a rise in accounts payable and accrued liabilities. Stockholders' equity decreased to $250,427 from $342,090, reflecting the ongoing losses and the need for additional capital.

During the reporting period, ProtoKinetix issued 17,750,000 shares of common stock as part of a private placement, generating $177,500 in cash. The company also issued 450,000 shares in exchange for consulting services. The total number of common shares outstanding increased to 390,080,152 from 371,880,152 at the end of 2024. The company continues to focus on its research and development of synthesized antifreeze glycoproteins (AFGP), branded as AAGP, and is actively seeking partnerships and funding to advance its projects.

Looking ahead, ProtoKinetix acknowledges the need for additional working capital to sustain its operations and continue its research initiatives. The company is exploring equity financing options and related party loans to meet its financial obligations. Management has expressed concerns regarding the company's ability to continue as a going concern, given its history of losses and the lack of commercially viable products to date. The company’s future performance will depend on its ability to secure funding and successfully develop its AAGP product line, as well as navigate market conditions and competition in the biotechnology sector.