The Woes of Bio-Path Holdings, Inc. BPTH are evident as shares take a tumble on this Friday.

The company revealed a fourth-quarter earnings per share loss of $4.23, surpassing the anticipated loss of $5.40.

In the full year ended Dec. 31, 2023, Bio-Path reported a net loss of $33.63 per share, marking a decrease from $38.12 per share in the previous year.

Research and development expenses for the year surged to $11.6 million, in contrast to $9.2 million in the prior year.

By Dec. 31, 2023, the company’s cash amounted to $1.1 million, a significant drop from $10.4 million by Dec. 31, 2022.

Bio-Path, in December, disclosed the completion of the first dose cohort for the dose escalation segment of its Phase 1 clinical trial of BP1002. The trial aims to evaluate BP1002’s efficacy in combatting refractory/relapsed lymphoma and refractory/relapsed CLL patients.

Looking ahead, Bio-Path CEO Peter Nielsen expressed optimism, stating, “As we look to the months and year ahead, we expect to build on the clinical progress achieved to date to bring potentially life-saving new medicines to patients battling cancers.”

Market Movement: BPTH shares are currently down by 4.98% at $5.920 upon the most recent check on Friday.

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