Emmaus Life Sciences Inc. reported its financial results for the first quarter of 2025, highlighting stable net revenues and an improved loss from operations. The company reported net revenues of $2.4 million for the three months ended March 31, 2025, slightly down from $2.5 million in the same period of 2024. This slight decrease in net revenues was attributed to increased competition from a generic version of L-Glutamine that entered the market in mid-2024. Operating expenses for the quarter were significantly reduced to $3.2 million, down from $5.0 million in the same quarter the previous year. This reduction was primarily due to decreased selling expenses and general and administrative expenses following a reduction in force in the fourth quarter of 2024. The company reported a loss from operations of $1.0 million, a notable improvement from the $2.7 million loss in the same period of 2024. Other expenses decreased to $1.3 million from $1.6 million in the prior year, largely due to an improvement in the change in fair value of conversion feature derivative liabilities. Emmaus Life Sciences posted a net loss of $2.3 million, or $0.04 per share, compared to a net loss of $4.3 million, or $0.07 per share, in the first quarter of 2024. The reduction in net loss was mainly driven by decreased loss from operations and a slight decrease in other expenses. As of March 31, 2025, the company held cash and cash equivalents totaling $1.3 million, a slight decrease from $1.4 million at the end of December 2024.