SmartKem reports Q2 2024 revenue of $40K, net loss of $3.1M; cash drops to $4.4M

SmartKem, Inc.

2024-Q2 EPS reported -$4.04 revenue$40,000

Revenue $40K (up from $8K Q2 2023); gross profit $8K.
Q2 net loss $3.1M vs $2.0M loss in prior year; operating expenses $3.0M (+$0.5M).
Cash $4.4M at June 30, 2024, down from $8.8M at Dec 31, 2023; H1 operating cash burn $4.4M.
Uplisted to Nasdaq in May 2024; new partnerships with RiTdisplay (AMOLED), ITRI (foundry), Tianma (biosensors).
Basic loss per share $0.98 (Q2 2024) vs $1.82 (Q2 2023); weighted shares 3.16M.

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