Biostage reports Q2 2022 net loss of $1.3M; raises $5.1M in private placement

Harvard Apparatus Regenerative Technology, Inc.

2022-Q2 EPS reported -$0.32

Net loss of $1.3M ($0.12 per share) vs $0.4M loss in Q2 2021; increase due to higher legal costs and prior-year PPP loan forgiveness.
Completed private placement in May 2022, generating net proceeds of ~$5.1M to fund clinical development of Biostage Esophageal Implant (BEI).
Operating cash on-hand of $4.6M as of June 30, 2022; expected runway into Q2 2023.
Executed settlement with Harvard Bioscience and plaintiffs in wrongful death litigation; no admission of liability.

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