Serina Therapeutics reports Q3 net income of $1.4M but raises going concern doubt as cash stands at $3.2M

Serina Therapeutics, Inc.

2024-Q3 EPS reported -$1.24 revenue$70,000

Net income $1.4M ($0.16 basic EPS) vs $1.8M a year ago; revenue $14k from NIH grants.
Operating expenses surged to $5.3M from $1.5M, driven by R&D and G&A increases.
Cash, cash equivalents, and restricted cash $3.2M; company expects insufficient funds for 12 months.
Expects ~$10M from Juvenescence warrant exercise via side letter, but still substantial doubt about going concern.
Lead candidate SER-252 (apomorphine) for Parkinson's planned for clinical testing in 2025; partnership with Enable Injections.

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