Logotype for Harvard Apparatus Regenerative Technology Inc

Harvard Apparatus Regenerative Technology (HRGN) Q2 2024 earnings summary

Event summary combining transcript, slides, and related documents.

Logotype for Harvard Apparatus Regenerative Technology Inc

Q2 2024 earnings summary

13 Jun, 2025

Executive summary

  • Harvard Apparatus Regenerative Technology is a clinical-stage biotech company focused on regenerative medicine for GI tract disorders and longevity supplements, with two operating segments: Regenerative Biotech and Longevity Products.

  • The company launched longevity product sales in the Great China Region in Q3 2023 and continues to develop its esophageal implant, with ongoing but delayed patient recruitment for its FDA-approved phase 1 clinical trial.

  • Operations are funded primarily through equity and debt financings, with a recent $1.5M private placement and a $0.5M bridge note from the CEO.

  • As of June 30, 2024, the company had $0.1M in cash and an accumulated deficit of $96.5M, raising substantial doubt about its ability to continue as a going concern without additional capital.

Financial highlights

  • Product revenue was $56,000 for Q2 2024 and $113,000 for the six months ended June 30, 2024, all from longevity products; no revenue was generated prior to Q3 2023.

  • Net loss for Q2 2024 was $2.5M, compared to $2.6M in Q2 2023; net loss for the six months ended June 30, 2024 was $4.5M, down from $5.5M in the prior year period.

  • Operating expenses for Q2 2024 were $2.5M, a 4% decrease year-over-year; for the six months, operating expenses were $4.6M, down 17% year-over-year.

  • General and administrative expenses in Q2 2024 increased 64% year-over-year to $1.7M, mainly due to $0.5M in one-time offering costs.

  • Cash used in operating activities was $2.3M for the six months ended June 30, 2024, compared to $2.6M in the prior year period.

Outlook and guidance

  • Management expects continued operating losses and negative cash flows for 2024 and future years.

  • Current cash and recent equity financing are expected to fund operations into Q3 2024; additional capital is required to avoid curtailing or ceasing operations.

  • The company is actively seeking further equity, debt, or strategic financing, but there is no assurance of success.

Partial view of Summaries dataset, powered by Quartr API
AI can get things wrong. Verify important information.
All investor relations material. One API.
Learn more