SmartKem reports FY2023 loss before tax $8.5M, down from $11.5M; cash $8.8M

SmartKem, Inc.

Loss before income taxes $8.5M, a $3.0M improvement vs. 2022.
Cash and equivalents $8.8M as of Dec 31, 2023, up from $4.2M a year ago.
Revenue $27.0K vs. $40.0K in 2022; cost of revenue $23.0K.
Operating expenses stable at $10.8M; R&D $5.6M, SG&A $5.2M.
Closed $12.4M private placement of preferred stock and warrants in June 2023.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SmartKem, Inc. reported fourth quarter and full year ended December 31, 2023 results: revenue $27.0 thousand.

Period: fourth quarter and full year ended December 31, 2023
Revenue: $27.0 thousand
Result: reported results

Exact text from the filing

to $4.2 million as of December 31, 2022. · Operating expenses as of December 31, 2023, were $10.8 million compared to $10.9 million as of December 31, 2022. · Revenues were $27.0 thousand for the year ended December 31, 2023, compared to $40.0 thousand for the same period of 2022. · In June 2023, Smartkem completed a private placement of its preferred stock and

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SmartKem, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-040116

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