1GAAP operating loss narrowed 13.2% year-over-year to -$31.5 million for FY2025, primarily driven by lower personnel costs.
2GAAP net loss improved 8.3% year-over-year to -$34.5 million for FY2025, supported by higher proceeds from sale of tax benefits under New Jersey's NOL program.
3Diluted GAAP EPS improved 28.2% year-over-year to -$0.74 for FY2025, aided by reduced operating expenses across the business.
4FY2025 free cash flow was -$27.8 million, with zero capital expenditures recorded for the period, compared to $29,000 in capital expenditures for FY2024.
5The company has no material non-cancelable purchase commitments with service providers, as all contracts are generally structured on a cancelable purchase order basis.
6Management expects continued and growing losses for the foreseeable future as it advances clinical pipeline candidates and pursues regulatory approvals.