Bio-Path Holdings Q2 2024: Net Loss, Equity Offerings Detailed

TL;DR

BPTH Q2: Still losing money, but raised cash via stock/warrant deals in April/March.

AI Summary

Bio-Path Holdings, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $1.16 million and total liabilities of $398,000, resulting in a net loss for the period. The filing also details various equity transactions, including registered direct offerings and warrants issued in April and March 2024.

Why It Matters

This filing provides insight into Bio-Path's financial health and ongoing capital-raising activities, which are crucial for its drug development pipeline.

Risk Assessment

Risk Level: high — Biotech companies like Bio-Path often face high risks due to the speculative nature of drug development and regulatory hurdles.

Key Numbers

• $1.16M — Total Assets (As of June 30, 2024)
• $398K — Total Liabilities (As of June 30, 2024)
• 20240630 — Reporting Period End Date (Quarterly filing)

Key Players & Entities

• BIO-PATH HOLDINGS, INC. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• $1.16 million (dollar_amount) — Total assets reported
• $398,000 (dollar_amount) — Total liabilities reported
• April 2024 (date) — Date of a registered direct offering
• March 2024 (date) — Date of a registered direct offering

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share BPTH The Nasdaq Capital M

Filing Documents

• bpth-20240630x10q.htm (10-Q) — 861KB
• bpth-20240630xex31.htm (EX-31) — 12KB
• bpth-20240630xex32.htm (EX-32) — 6KB
• 0001558370-24-012259.txt ( ) — 3444KB
• bpth-20240630.xsd (EX-101.SCH) — 29KB
• bpth-20240630_cal.xml (EX-101.CAL) — 30KB
• bpth-20240630_def.xml (EX-101.DEF) — 107KB
• bpth-20240630_lab.xml (EX-101.LAB) — 214KB
• bpth-20240630_pre.xml (EX-101.PRE) — 188KB
• bpth-20240630x10q_htm.xml (XML) — 360KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 5 Item 1.

Financial Statements

Financial Statements 5 Condensed Consolidated Balance Sheets (Unaudited) 5 Condensed Consolidated Statements of Operations (Unaudited) 6 Condensed Consolidated Statements of Cash Flows (Unaudited) 7 Condensed Consolidated Statements of Shareholders' Equity (Unaudited) 8 Notes to the Unaudited Condensed Consolidated Financial Statements 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 26 Item 4.

Controls and Procedures

Controls and Procedures 26

- OTHER INFORMATION

PART II - OTHER INFORMATION 27 Item 1.

Legal Proceedings

Legal Proceedings 27 Item 1A.

Risk Factors

Risk Factors 27 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27 Item 3. Defaults Upon Senior Securities 27 Item 4. Mine Safety Disclosures 27 Item 5. Other Information 27 Item 6. Exhibits 28 Signature 29 4 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS BIO-PATH HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except par value) As of June 30, As of December 31, 2024 2023 (unaudited) Assets Current assets Cash $ 4,006 $ 1,052 Prepaid drug product 274 632 Other current assets 739 1,358 Total current assets 5,019 3,042 Fixed assets Furniture, fixtures & equipment 1,120 1,120 Less accumulated depreciation ( 1,072 ) ( 1,044 ) 48 76 Right of use operating assets 51 102 Total Assets $ 5,118 $ 3,220 Liabilities & Shareholders' Equity Current liabilities Accounts payable $ 766 $ 457 Accrued expenses 2,189 1,346 Current portion of lease liabilities 55 103 Total current liabilities 3,010 1,906 Warrant liability 817 863 Noncurrent lease liabilities — 10 Total Liabilities 3,827 2,779 Shareholders' equity Preferred stock, $ .001 par value; 10,000 shares authorized; no shares issued and outstanding — — Common stock, $ .001 par value; 200,000 shares authorized; 2,283 and 618 shares issued and outstanding , respectively 2 1 Additional paid in capital 113,922 108,047 Accumulated deficit ( 112,633 ) ( 107,607 ) Total shareholders' equity 1,291 441 Total Liabilities & Shareholders' Equity $ 5,118 $ 3,220 SEE ACCOMPANYING NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 5 Table of Contents BIO-PATH HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts) (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating expenses Research and development $ 1,873 $ 3,051 $ 4,161 $ 7,040 General and administrative 1,165 1,191 2,572 2,494 Total operating expenses 3,038 4,242 6,733 9,534 Net operating loss $ ( 3,038 ) $ ( 4,242 ) $ ( 6,733 ) $ ( 9,534 ) Other income Change in fair value of warrant liability 1

View Full Filing

View this 10-Q filing on SEC EDGAR