CervoMed reports Q1 net income $2.5M; DLB trial enrollment on track for Q2 2024

CervoMed Inc.

Cash $6.4M as of March 31; plus $50M upfront from private placement closed April 1 provides runway through end 2025.
RewinD-LB Phase 2b enrollment on track to complete in Q2 2024; topline data expected Q4 2024.
Net income $2.5M in Q1 vs net loss $0.5M in Q1 2023; operating loss widened to $2.6M from $1.4M.
Grant revenue from NIA $2.3M in Q1 vs $1.4M; R&D expenses increased to $2.8M.
Up to $149.4M private placement with leading healthcare investors; $50M gross upfront.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CervoMed Inc. reported first quarter ended March 31, 2024 results: net income approximately $2.5 million.

Period: first quarter ended March 31, 2024
Net income: approximately $2.5 million
Result: reported results

Exact text from the filing

Net income was approximately $2.5 million for the three months ended March 31, 2024

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Source: SEC EDGAR

accession 0001437749-24-017132

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