On May 16, 2023 Sigyn Therapeutics, Inc. ("Sigyn" or the "Company") (OTCQB: SIGY), a development-stage medical technology company, reported its financial results for the first quarter ended March 31, 2023 (Press release, Sigyn Therapeutics, MAY 16, 2023, View Source [SID1234631783]).
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During the quarter, the Company continued its focus to initiate first-in-human clinical studies of Sigyn Therapy as a candidate to treat pathogen-associated inflammatory disorders. The therapeutic blood purification technology has been demonstrated to deplete a broad-spectrum of inflammatory cytokines, viral pathogens, and bacterial toxins from human blood plasma. First-in-human clinical studies are directed toward the enrollment of end-stage renal disease patients with endotoxemia and concurrent inflammation.
Additionally, the Company recently introduced a development-stage cancer treatment system comprised of ChemoPrep to enhance the delivery of chemotherapeutic drug agents and ChemoPrep to reduce the toxicity of chemotherapy.
Summary of First Quarter 2023 Financial Results
For the quarter ended March 31, 2023, the Company had a loss from operations of approximately $521,000, compared to an operating loss of approximately $609,000 for the comparable period of 2022. The Company’s net loss for the 2023 first quarter was approximately $1,341,000 or approximately $0.03 per share, compared to a net loss of approximately $678,000, or approximately $0.02 per share, for the comparable period in 2022. First quarter 2023 net cash used in operating activities was approximately $563,000.
For complete financial results, please see Sigyn Therapeutics’ filings at www.sec.gov, and on the Company’s website at www.SigynTherapeutics.com under "Financial Info" in the Investors section.