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Business Summary: Gene Biotherapeutics Inc. is a clinical-stage biotechnology company, which is focused on pre-clinical, clinical and commercialization of angiogenic gene therapy biotherapeutics for strategic niche markets primarily for the treatment of cardiovascular disease. The technology platform is designed to biologically activate the human body's innate angiogenic healing process to stimulate the growth of microvascular networks for patients with ischemic cardiovascular, cerebral, and other medical conditions and diseases, as well as for advanced tissue engineering applications. Its lead product candidate Generx (Ad5FGF-4) is an angiogenic gene therapy product candidate designed for medical revascularization for the potential treatment of patients with myocardial ischemia and refractory angina due to advanced coronary artery disease. The Generx product candidate is under clinical development, which is cleared by the United States Food and Drug Administration (FDA) for a Phase III clinical study.
Financial Summary: BRIEF: For the fiscal year ended 31 December 2020, Gene Biotherapeutics Inc revenues was not reported. Net loss totaled $518K vs. income of $867K. Net loss reflects Selling, general and administrative increase of 76% to $1M (expense), Interest expense increase of 31% to $57K (expense). Basic Earnings per Share excluding Extraordinary Items decreased from $0.06 to -$0.02.