PMGC Holdings Inc. announced on May 14, 2025, the filing of its Quarterly Report on Form 10-Q for the three months ended March 31, 2025, with the U.S. Securities and Exchange Commission (SEC). The report reflects the company's operations post-skincare divestiture.
Total operating expenses for continuing operations increased to $1.12 million in Q1 2025, up from $799,974 in Q1 2024, driven by R&D, consulting, and professional fees. The net loss from continuing operations widened to $1.58 million in Q1 2025, compared to $544,121 in Q1 2024.
Including discontinued operations, the total net loss for Q1 2025 was $1.61 million. Despite cash increasing to $5.36 million due to financing activities, the company's accumulated deficit of $14.88 million and ongoing losses led management to state substantial doubt about its ability to continue as a going concern.
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