BriaCell Therapeutics Corp.
Filed Apr 22, 2025.
View on SEC.govAbout this filing
A company's registration of shares for sale to the public, often for a first offering. It describes the business, its risks and how the company plans to use the money.
period unavailable · Filed Apr 22, 2025
Contents
SUMMARY FINANCIAL DATA
The following tables set forth summary financial data as of, and for the six months ended January 31, 2025 and 2024, and for the years ended, July 31, 2024 and 2023, and should be read together with our consolidated financial statements and the related notes incorporated by reference herein, as well as the section of this prospectus entitled “Risk Factors” appearing elsewhere in this prospectus. The summary financial data in this section is not intended to replace our financial statements and related notes. The summary consolidated financial data as of January 31, 2025, and for the six months ended, January 31, 2025 and 2024 are derived from our unaudited condensed consolidated financial statements incorporated by reference into this prospectus. In our opinion, these unaudited condensed consolidated financial statements have been prepared on a basis consistent with our audited financial statements and contain all adjustments, consisting only of normal and recurring adjustments, necessary for a fair presentation of such condensed consolidated financial data. The summary financial data as of, and for the years ended, July 31, 2024 and 2023 are derived from our audited financial statements included incorporated by reference into this prospectus. Our historical results are not necessarily indicative of our future results, and our operating results for the six-month period ended January 31, 2025 are not necessarily indicative of the results that may be expected for the fiscal year ending July 31, 2025 or any other interim periods or any future year or period. The summary of consolidated financial data as of, and for the years ended July 31, 2024 and 2023 have been retrospectively adjusted to reflect a 1-for-15 share consolidation, which became effective under the corporate law of British Columbia, Canada on January 24, 2025 and the post-consolidation common shares commenced trading on Nasdaq on January 29, 2025. No other changes to our historical financial statements were made in recasting the amounts set forth below.
| Six months ended January 31, · Year ended July 31, | ||||
|---|---|---|---|---|
| 2025 (Unaudited) | 2024 (Unaudited) | 2024 | 2023 | |
| Operating Expenses: | ||||
| Research, development, and clinical trial expenses | $9,350,118 | $15,114,712 | $27,177,807 | $15,336,638 |
| General and administrative expenses | 2,972,157 | 3,217,762 | 6,152,269 | 7,935,626 |
| Total operating expenses | 12,322,275 | 18,332,474 | 33,330,076 | 23,272,264 |
| Operating loss | (12,322,275) | (18,332,474) | (33,330,076) | (23,272,264) |
| Financial expenses, net | 79,072 | 261,450 | 262,566 | 850,340 |
| Change in fair value of the warrant liability | 190,198 | 12,714,331 | 28,242,472 | 2,119,530 |
| Share of loss on equity investment | (114,099) | (18,345) | (106,510) | - |
| Net loss | $(12,167,104) | $(5,375,038) | $(4,931,548) | (20,302,394) |
| Net loss attributable to non-controlling interest | (73,509) | (81,978) | (140,082) | - |
| Net loss and Comprehensive loss for the period attributable to BriaCell | (12,093,595) | (5,293,060) | (4,791,466) | (20,302,394) |
| Net loss per share attributable to BriaCell – basic and diluted | $(5.44) | $(5.04) | $(4.35) | $(19.50) |
| Weighted average number of shares used in computing net basic and diluted loss per share of common stock | 2,224,979 | 1,065,448 | 1,096,995 | 1,041,312 |
| Unaudited, Actual | Unaudited, As Adjusted (1) | |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $5,013,654 | $16,245,904 |
| Amounts receivable and prepaid expenses | 2,148,919 | 2,148,919 |
| Total current assets | 7,162,573 | 18,394,823 |
| NON-CURRENT ASSETS: | ||
| Investments | - | - |
| Equity investment in BC Therapeutics | 454,391 | 454,391 |
| Intangible assets, net | 192,160 | 192,160 |
| Property and equipment, net | 342,497 | 342,497 |
| Long term prepaid expenses | 1,211,946 | 1,211,946 |
| Total non-current assets | 2,200,994 | 2,200,994 |
| Total assets | $9,363,567 | $20,595,817 |
| LIABILITIES AND SHAREHOLDERS’ DEFICIT | ||
| CURRENT LIABILITIES: | ||
| Trade payables | $5,003,239 | $5,003,239 |
| Accrued expenses and other payables | 227,599 | 227,599 |
| Total current liabilities | 5,230,838 | 5,230,838 |
| NON-CURRENT LIABILITIES: | ||
| Warrant liability | 905,838 | 905,838 |
| Total non-current liabilities | $905,838 | $905,838 |
| Total shareholders’ equity | 3,226,891 | 14,459,141 |
| Total liabilities and shareholders’ equity | $9,363,567 | $20,595,817 |
| (1) | The as adjusted balance sheet data gives effect to the issuance of 762,500 common shares and 38,125 placement agent warrants to purchase 38,125 common shares in the February 2025 Offering; and the assumed net proceeds from this Offering. |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.