BriaCell loses foreign private issuer status, restates interim financials to U.S. GAAP

BriaCell Therapeutics Corp.

As of July 31, 2022, BriaCell no longer qualifies as foreign private issuer; effective Aug 1, 2022 must file as domestic issuer.
Restated interim financial statements for Oct 31, 2021, Jan 31, 2022, and Apr 30, 2022 from IFRS to U.S. GAAP.
Net loss for Q1 FY2022 (Oct 2021) was $27.5M, primarily due to $25.3M warrant remeasurement loss.
Cash and cash equivalents were $55.5M as of Oct 31, 2021; accumulated deficit $56.7M.
Company is defending against Alpha Capital Anstalt lawsuit over warrant amendment; believes it will not have to pay.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BriaCell Therapeutics Corp. reported Three months ended October 31, 2021 results: net income (27,533,485 ), EPS $ (1.81 ).

Period: Three months ended October 31, 2021
Net income: (27,533,485 )
EPS: $ (1.81 )
Result: reported results

Exact text from the filing

: Research and development expenses $ 875,636 $ 149,062 General and administrative expenses 1,409,173 231,309 Total operating expenses 2,284,809 380,371 Operating loss (2,284,809 ) (380,371 ) Financial expenses, net (25,248,676 ) (40,956 ) Loss for the period (27,533,485 ) (421,327 ) Other comprehensive loss - Foreign currency translation adjustment - 35,340 Comprehensive loss for the period $ (27,533,485 ) $ (385,987 ) Net loss per share – basic and diluted $ (1.81 ) $ (0.54 ) Weighted average number of shares used in computing net basic and diluted

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Source: SEC EDGAR

accession 0001493152-22-029741

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