Tharimmune Reports $2.54 Million Net Loss and Increased Operating Expenses for Q1 2025

Tharimmune, Inc. reported a net loss of $2.54 million for the three months ended March 31, 2025, compared to a net loss of $2.26 million for the same period in 2024, marking an increase of approximately 13%. The company's total operating expenses rose to $2.55 million, up from $2.35 million in the prior year, driven primarily by a 43% increase in general and administrative expenses, which reached $1.95 million. In contrast, research and development expenses decreased by 42% to $594,070, reflecting reduced clinical trial costs following the completion of a Phase 1 trial for TH104.

The company has made significant strategic advancements, including the execution of multiple patent license agreements. Notably, on November 3, 2023, Tharimmune entered into a license agreement with Avior Inc. for the development of TH104 and TH103, which are aimed at treating chronic pruritus and other conditions. Additionally, the company is progressing with its investigational new drug (IND) application for TH104, which received FDA approval in February 2023. The FDA has indicated a favorable regulatory pathway for TH104, allowing for a 505(b)(2) New Drug Application (NDA) submission without the need for additional clinical trials.

Operationally, Tharimmune's cash position has been under pressure, with cash and cash equivalents decreasing to $1.08 million as of March 31, 2025, down from $3.56 million at the beginning of the year. The company reported net cash used in operating activities of $2.69 million for the quarter, slightly less than the $2.83 million used in the same period last year. The company has primarily financed its operations through public and private equity offerings, raising approximately $3.6 million from recent placements. However, ongoing liquidity risks raise substantial doubt about the company's ability to continue as a going concern for at least the next year.

Tharimmune's employee headcount has increased as the company expands its research and development efforts. The company is focused on advancing its pipeline of therapeutic candidates targeting high-value immuno-oncology targets, including bispecific antibodies and antibody-drug conjugates. The company anticipates further increases in research and development expenses as it prepares for additional clinical trials, particularly for HS1940 and HS3215. Looking ahead, Tharimmune aims to pursue strategic partnerships and additional funding to support its operational and developmental objectives.