Synaptogenix Reports Net Income of $385,169 in Q1 2025, Significant Turnaround from Previous Year

Synaptogenix, Inc. reported a net income of $385,169 for the first quarter of 2025, a significant turnaround from a net loss of $206,699 in the same period of 2024. The company’s total operating expenses decreased by approximately 36.8% to $1,069,165, down from $1,691,494 year-over-year. This reduction was primarily driven by a 90% decrease in research and development expenses, which fell to $60,816 from $609,249, as the company concluded its Phase 2 clinical trial for Alzheimer’s disease (AD) and discontinued its multiple sclerosis (MS) trial. General and administrative expenses also saw a modest decline of 6.8%, totaling $1,008,349 compared to $1,082,245 in the prior year.

In terms of financial position, Synaptogenix reported current assets of $15.3 million as of March 31, 2025, a decrease from $17.7 million at the end of 2024. The company’s cash and cash equivalents stood at $14.8 million, down from $17.7 million, reflecting ongoing operational expenditures and the redemption of Series C Preferred Stock. Total liabilities decreased to $8.9 million from $10.9 million, largely due to a reduction in accrued expenses and accounts payable. The company’s stockholders’ equity also declined to $5.2 million from $5.9 million, primarily due to the accumulated deficit, which now stands at $46.9 million.

Strategically, Synaptogenix is exploring new opportunities to enhance shareholder value, as indicated by the formation of a special committee to evaluate potential drug development platforms and technologies. The company has also been active in its collaborations, including a partnership with Nemours A.I. DuPont Hospital to initiate a clinical trial for Fragile X syndrome, although the FDA has placed the development of the investigational new drug (IND) on clinical hold pending further analysis. Additionally, the company terminated its agreement with the Cleveland Clinic due to slow enrollment in the MS trial, a decision aimed at reducing cash burn.

Looking ahead, Synaptogenix anticipates that its current cash reserves will be sufficient to support its operational needs for at least the next 12 months. However, the company acknowledges the necessity for additional capital to pursue further clinical trials and regulatory approvals for its therapeutic candidates. The management has indicated that any future equity financing may be dilutive to existing shareholders, and the ability to secure such funding is not guaranteed. The company continues to navigate a challenging landscape marked by rapid technological changes and regulatory hurdles in the biopharmaceutical sector.