Sigyn Therapeutics Reports No Revenue and $3.34 Million Net Loss for Fiscal Year 2024

Sigyn Therapeutics, Inc. reported no revenue for the fiscal year ending December 31, 2024, consistent with the previous year. The company continues to operate at a loss, with a net loss of $3.34 million for 2024, a decrease from a loss of $4.15 million in 2023. Operating expenses rose slightly by 2.6% to $2.52 million, primarily due to increased professional fees and investor relations costs. The company’s total assets were reported at $213,719, while total liabilities reached $4.67 million, resulting in a working capital deficit of $4.59 million.

In terms of strategic developments, Sigyn Therapeutics is advancing its lead product, Sigyn Therapy™, a blood purification technology aimed at treating infectious diseases and inflammatory disorders. The company has completed pre-clinical studies and is preparing to submit an Investigational Device Exemption (IDE) to the FDA for first-in-human studies. The IDE aims to enroll 12-15 patients with end-stage renal disease and endotoxemia, marking a significant step toward clinical trials. The company has also initiated a Regulation D offering to raise capital, selling units that include convertible debentures and warrants.

Operationally, Sigyn Therapeutics has maintained a small workforce, with four salaried employees as of the filing date. The company has not reported any significant changes in customer counts or user statistics, as it has not yet commercialized any products. The focus remains on regulatory and clinical advancements rather than market penetration. The company’s employee headcount reflects its current stage as a development-focused entity, relying on consultants and third-party organizations for research and product development.

Looking ahead, Sigyn Therapeutics acknowledges the need for additional capital to support its operations and growth. The management is actively seeking funding through public offerings or asset sales to ensure the continuation of its business. The company’s ability to execute its business plan and generate revenue remains uncertain, and it has expressed that there is substantial doubt about its ability to continue as a going concern without securing further financing. The management believes that the ongoing development of its therapeutic candidates and potential market opportunities could provide a pathway to future revenue generation.