EPS: As of FY2025 Q1, the actual value is USD -0.15.

Segment Revenue

• No revenue was recognized for the three months ended March 31, 2025, compared to $47,000 for the same period in 2024, due to the assignment of a customer contract to Factor Bioscience.

Operational Metrics

• Net Loss: The net loss for the three months ended March 31, 2025, was $8.2 million, compared to $6.6 million for the same period in 2024.
• Operating Expenses: Total operating expenses decreased to $2.7 million for the three months ended March 31, 2025, from $5.8 million in the same period in 2024.
• Research and Development Expenses: Decreased to $1.3 million for the three months ended March 31, 2025, from $1.5 million in the same period in 2024.
• General and Administrative Expenses: Decreased to $1.4 million for the three months ended March 31, 2025, from $4.3 million in the same period in 2024.

Cash Flow

• Operating Cash Flow: Net cash used in operating activities was $2.1 million for the three months ended March 31, 2025, compared to $3.7 million for the same period in 2024.
• Free Cash Flow: Not explicitly stated, but the net increase in cash and cash equivalents was $189,000 for the three months ended March 31, 2025.

Unique Metrics

• Forward Sales Contract Expense: Recognized a $5.3 million loss related to a forward sales contract entered into on March 31, 2025.

Future Outlook and Strategy

• Core Business Focus: The company plans to complete IND enabling studies and submit an IND for ERNA-101 by 2026, with a Phase I clinical trial expected in the second half of 2026.
• Non-Core Business: Actively seeking strategic partnerships to co-develop or out-license therapeutic assets.