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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Biora Therapeutics
Biora Therapeutics (BIOR) investor relations material
Biora Therapeutics has been otc
Biora Therapeutics Q3 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2024 earnings summary14 Nov, 2024
Executive summary
Clinical-stage biotech focused on oral biotherapeutics, with NaviCap for GI-targeted and BioJet for systemic delivery; advanced development of smaller, higher-capacity BioJet device with animal testing planned in Q4 2024.
Shifted partnering strategy to focus on licensing BioJet device, citing strong pharma interest.
No significant product revenue; pipeline in early clinical and preclinical stages, with ongoing R&D investment.
Underwent two reverse stock splits (1-for-25 in Jan 2023, 1-for-10 in Oct 2024) to maintain Nasdaq compliance.
Substantial doubt exists about ability to continue as a going concern due to limited cash and high accumulated deficit.
Financial highlights
Revenue for Q3 2024 was $32,000, up from $4,000 in Q3 2023; nine-month revenue was $892,000.
Net loss for Q3 2024 was $18.4M, improved from $73.5M in Q3 2023; nine-month net loss was $16.1M, improved from $108.7M.
Operating expenses for Q3 2024 were $16.3M, down from $23.3M in Q3 2023 and $16.1M in Q2 2024.
Cash and equivalents at September 30, 2024 were $3.0M–$3.2M, with a working capital deficit and $967.1M accumulated deficit.
Cash used in operations for the nine months ended September 30, 2024 was $32.2M.
Outlook and guidance
Current cash is not expected to fund operations for 12 months; additional capital is required.
Plans to raise capital through equity offerings, debt financings, or strategic transactions.
R&D expenses expected to remain flat in 2024 as clinical trials continue.
Plans to share additional canine study data and begin primate studies with BioJet device in Q4 2024.
Operating cash burn reduced by 40% to under $2.5M per month going forward.
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Latest events from Biora Therapeutics
- Biotech firm registers 96.7M shares for resale tied to notes and warrants, with high risk factors.BIOR
Registration Filing - Approval sought for major share issuances and equity plan changes to support future funding.BIORProxy Filing
- Shareholder approval sought for major share issuances and equity plan expansion to support funding.BIORProxy Filing
- Shareholders to vote on reverse split and share reduction to maintain Nasdaq listing.BIORProxy Filing
- Shareholders to vote on reverse stock split and share reduction to maintain Nasdaq listing.BIORProxy Filing
- NaviCap and BioJet platforms advance targeted GI and oral biologic delivery, with key milestones ahead.BIORH.C. Wainwright 26th Annual Global Investment Conference
- NaviCap achieves precise colon drug delivery in UC, with BioJet nearing key pharma partnerships.BIORCanaccord Genuity 44th Annual Growth Conference & Private Company Showcase 2024
- BT-600 Phase 1 success, BioJet advances, $6.5M net income, and $16M funding amid liquidity risks.BIORQ2 2024
- BT-600 achieved targeted, well-tolerated colonic delivery with low systemic exposure in Phase 1.BIORStudy Update
Biora Therapeutics
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Frequently asked questions
Biora Therapeutics Inc. is a biotechnology company focused on developing innovative oral biotherapeutics for the treatment of chronic diseases. The company specializes in creating drug delivery systems that allow for the targeted delivery of therapeutics to the gastrointestinal (GI) tract, aiming to improve treatment outcomes and patient experiences. Biora’s pipeline includes therapies for conditions such as inflammatory bowel disease (IBD) and other GI-related disorders, leveraging its proprietary technology platforms for precision medicine. The company is headquartered in San Diego, California, USA, and its shares are listed on the NASDAQ.