Serina Therapeutics Q1 net loss $9.4M; going concern substantial doubt

Serina Therapeutics, Inc.

2024-Q1 EPS reported -$3.38 revenue$5,000

Net loss of $9.4M ($3.38/share) vs net income of $1.7M in Q1 2023.
Cash, cash equivalents, and restricted cash total $8.8M as of March 31, 2024.
Company states cash not sufficient for 12 months, raising substantial doubt about going concern.
Juvenescence line of credit increased by $2.4M in March and $525k in May; total owed $10.4M.
Lead candidate SER-252 IND submission planned for 2025; Dr. Simba Gill appointed Executive Chairman.

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 0.95

Serina Therapeutics, Inc. reported the quarter ended March 31, 2024 results: revenue $5,000 and $30,000 for the first quarter of 2024 and in the same period in 2023, respectively, net income $9.4 million, or ($3.38) per share (basic and diluted), EPS ($3.38) per share (basic and diluted).

Period: the quarter ended March 31, 2024
Revenue: $5,000 and $30,000 for the first quarter of 2024 and in the same period in 2023, respectively
Net income: $9.4 million, or ($3.38) per share (basic and diluted)
EPS: ($3.38) per share (basic and diluted)
Result: reported results

Exact text from the filing

On May 14, 2024, the Company announced its financial results for the quarter ended March 31, 2024.

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Serina Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-019262

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