Nexien Biopharma Reports Net Loss of $361.9 Million for the Year
Annual Revenue of $0 Million
By USInMinutes
Published - Oct 07, 2023, 02:36 PM ET
Last Updated - Oct 07, 2023, 02:36 PM EDT
NEXIEN BIOPHARMA, INC. [NXEN] has released its financial results for the year ended June 30, 2023. The company reported a net loss of $361.9 million for the year, reflecting a decrease from the previous year. Nexien Biopharma generated annual revenue of $0 million during this period.
Financial Performance
Despite the significant net loss, Nexien Biopharma showed some improvement in its financial performance compared to the previous year. The company's operating expenses decreased to $282.6 million from $564 million in the previous year. This reduction can be attributed to a decrease in professional fees and general and administrative expenses.
