Propanc Biopharma, Inc. SEC 10-Q Report

Propanc Biopharma, Inc., a biopharmaceutical company focused on developing new cancer treatments, has released its Form 10-Q report for the second quarter of fiscal year 2024. The report provides a detailed overview of the company's financial performance and operational progress, reflecting its ongoing efforts in the development of its lead product candidate, PRP, and strategic initiatives to strengthen its patent portfolio.

Financial Highlights

• Revenue: $0, The company reported no revenue for the three and six months ended December 31, 2024 and 2023.
• Loss from Operations: $(213,382) for the three months ended December 31, 2024, reflecting a decrease in operating expenses compared to the prior year.
• Net Loss: $(430,183) for the three months ended December 31, 2024, indicating a reduction in net loss compared to the same period in 2023.
• Net Loss Available to Common Stockholders: $(430,183) for the three months ended December 31, 2024, showing an improvement from the $(618,969) loss in the prior year.
• Basic and Diluted Net Loss Per Share Available to Common Stockholders: $(32.23) for the three months ended December 31, 2024, compared to $(1,559.55) in the prior year, reflecting the impact of the reverse stock split.

Business Highlights

• Nature of Operations: Propanc Biopharma, Inc. is focused on developing new cancer treatments targeting high-risk patients, particularly cancer survivors, with a follow-up, non-toxic, long-term therapy designed to prevent cancer recurrence and spread. The lead product candidate, PRP, is an enhanced pro-enzyme formulation currently in the preclinical phase of development.
• Patent Portfolio: The company has a robust patent portfolio with 84 granted, allowed, or accepted patents and 6 patents filed or under examination in key global jurisdictions. These patents relate to the use of proenzymes against solid tumors, covering the lead product candidate PRP.
• Reverse Stock Split: The company has effectuated a reverse stock split at a ratio of one post-split share per sixty thousand pre-split shares, effective January 29, 2025. This adjustment was made to better reflect the company's stage of operations and development.
• Future Outlook: The company aims to capture and protect additional patentable subject matter based on its field of technology relating to pharmaceutical compositions of proenzymes for treating cancer. This will be achieved by filing additional patent applications as it advances its lead product candidate, PRP, through various stages of development.

SEC Filing: Propanc Biopharma, Inc. [ PPCB ] - 10-Q - Feb. 14, 2025