Condensed Consolidated Interim Statements of Operations and Other Comprehensive Income (Loss)
(U.S. Dollars in thousands, except per share amounts)
(Unaudited)
Three Months Ended Six Months Ended
September 30, September 30,
------------------------------ -----------------------
2024 2023 2024 2023
---------------- ------------ -------- -------------
Expenses
Research and
development $ 723 $ 4,237 $ 2,028 $ 7,865
General and
administrative
expenses 881 1,693 2,415 3,062
-------------- ------ --- ------ ------- ---
Loss from
operations (1,604) (5,930) (4,443) (10,927)
Change in fair
value of
warrant
liability (716) -- 426 --
Change in fair
value of
deferred
purchase price
payable --
Tarus and
deferred
obligation --
iOx milestone -- (113 ) -- (1,224 )
Gain on
settlement with
Parexel -- iOx
CRO 946 -- 946 --
Share of loss in
associate
accounted for
using equity
method -- (40) -- (90)
Depreciation
expense (7) (15) (15) (26)
Foreign exchange
transaction
(loss) gain (5) (17) (7) 1
Interest income,
net 24 43 69 123
-------------- ------ --- ------ ------- ---
Loss before
benefit for
income taxes (1,362) (6,072) (3,024) (12,143)
Income tax
benefit
(expense) -- 907 (2) 1,052
-------------- ------ --- ------ ------- ---
Net loss (1,362) (5,165) (3,026) (11,091)
Other
comprehensive
income (loss)
Net unrealized
(loss) gain on
investments -- (1,300) -- 469
-------------- ------ ------ ------- ---
Total
comprehensive
loss for period $ (1,362) $(6,465) $(3,026) $(10,622)
============== ====== ====== =======
Net loss
attributable to:
Owners of the
Company $ (1,360) $(5,158) $(3,016) $(11,077)
Non-controlling
interest (2) (7) (10) (14)
-------------- ------ ------ -------
Net loss $ (1,362) $(5,165) $(3,026) $(11,091)
============== ====== ====== =======
Comprehensive loss
attributable to:
Owners of the
Company $ (1,360) $(6,458) $(3,016) $(10,608)
Non-controlling
interest (2) (7) (10) (14)
-------------- ------ ------ -------
Total
comprehensive
loss for period $ (1,362) $(6,465) $(3,026) $(10,622)
Loss per share
Basic and
diluted $ (1.26) $ (5.80) $ (2.84) $ (12.47)
============== ====== ====== =======
Weighted average
shares
outstanding
Basic and
diluted 1,076 890 1,063 888
============== ====== === ====== ======= ===
PORTAGE BIOTECH INC.
Condensed Consolidated Interim Statements of Financial Position
(U.S. Dollars in thousands)
(Unaudited)
September 30, March 31,
2024 2024
--------------- ------------
(Audited)
Assets
Current assets
Cash and cash equivalents $ 1,764 $ 5,028
Prepaid expenses and other current
assets 922 2,667
----------- --------
Total current assets 2,686 7,695
----------- --------
Non-current assets
Right to use asset 20 35
Other assets -- 49
----------- --------
Total non-current assets 20 84
----------- --------
Total assets $ 2,706 $ 7,779
=========== ========
Liabilities and Equity
Current liabilities
Accounts payable and accrued liabilities $ 845 $ 2,836
Lease liability - current, including
interest 28 40
Other current liabilities -- 3
----------- --------
Total current liabilities 873 2,879
----------- --------
Non-current liabilities
Lease liability - non-current -- 7
Warrant liability 1,138 1,564
----------- --------
Total non-current liabilities 1,138 1,571
----------- --------
Total liabilities 2,011 4,450
----------- --------
Shareholders' Equity
Capital stock 219,606 219,499
Stock option reserve 24,126 23,841
Accumulated deficit (242,334) (239,318)
----------- --------
Total equity attributable to owners of the
Company 1,398 4,022
Non-controlling interest (703) (693)
----------- --------
Total equity 695 3,329
----------- --------
Total liabilities and equity $ 2,706 $ 7,779
=========== ========
(END) Dow Jones Newswires
November 26, 2024 16:05 ET (21:05 GMT)
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