NeuroScientific Biopharmaceuticals (NSB) H2 2024 earnings summary

Executive summary

• Achieved a net profit of $324,210 for FY2024, reversing a prior year loss of $1,068,606, primarily due to R&D tax incentives offsetting research costs.

• Total income was $2,390,765, down from $5,060,488 year-over-year, reflecting lower R&D tax incentive receipts.

• Focused clinical development on EmtinB for ophthalmology, specifically advanced glaucoma, with a successful FDA pre-IND meeting in June 2024.

• Significant board and management changes occurred during the year.

Financial highlights

• Net profit after tax: $324,210 (FY2023: $1,068,606 loss).

• Total income: $2,390,765 (FY2023: $5,060,488).

• Cash and term deposits at year-end: $4,954,142 (FY2023: $4,911,709).

• Net working capital surplus: $4,958,425 (FY2023: $4,412,489).

• Cash inflow from operating activities: $44,249 (FY2023: $2,304,340 outflow).

Outlook and guidance

• Directors are confident in sufficient cash reserves to fund operations for at least 12 months.

• Future net losses are expected as clinical development of EmtinB continues.

• Ongoing evaluation of new opportunities to expand the portfolio.