Bioxytran, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 15, 2022 at 04:54 pm IST
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Bioxytran, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported net loss was USD 0.622349 million compared to USD 0.896701 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.01 a year ago.
For the six months, net loss was USD 1.53 million compared to USD 2.52 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.02 a year ago.
Bioxytran, Inc. is a clinical-stage pharmaceutical company. The Company is focused on the development, manufacture, and commercialization of therapeutic drugs designed to address hypoxia in humans. The Company's lead drug candidate, code named BXT-25, is an oxygen-carrying small molecule consisting of bovine hemoglobin stabilized with a co-polymer with an intended application, which includes the treatment of hypoxic conditions in the brain resulting from stroke. The Company, through its subsidiary, Pharmalectin Inc., is focused on the development, manufacturing, and commercialization of therapeutic drugs designed to address viral diseases in humans. Pharmalectin Inc. has developed a method designed to reduce the viral load and modulate the immune system using a galectin inhibitor. Its lead drug candidate, named ProLectin-Rx, is a complex polysaccharide derived from pectin that binds to, and blocks the activity of galectin-1, a type of galectin.