The company exhibits no commercial revenue streams, with quarterly operating losses consistently ranging between $5.2 million and $9.9 million due to heavy R&D investment.
| Metric | TTM | Jul'25 | Jul'24 | Jul'23 | Jul'22 | Jul'21 | Jul'20 | Jul'19 | Jul'18 | Jul'17 | Jul'16 | Jul'15 | Jul'14 | Jul'13 | Jul'12 | Jul'11 | Jul'10 | Jul'09 | Jul'08 | Jul'07 | Jul'06 |
|---|
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | 26.59K | 107.93K | 0 | 0 | 0 | 15.55K | 18.73K | 18.73K | 16.89K | 290 | 1.79K | 565 | 61.16K | -79.87K | 72.1K | 56.13K | 43.47K | 166 | 0 | 0 | 0 |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | -26.59K | -107.93K | 0 | 0 | 0 | -15.55K | -18.73K | -18.73K | -16.89K | -289 | -1.79K | -563 | -61.16K | 79.87K | -72.1K | -56.13K | -43.47K | -166 | 0 | 0 | 0 |
| Gross Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | - | - | - | 100% | 16.95% | 0.03% | -10.94% | -5742.91% | 83.85% | -217.76% | 99.08% | -176.58% | 210.77% | -28.46% | -29.14% | -26084.34% | - | - | - | - |
| Operating Expenses | 31.98M | 27.43M | 33.33M | 23.27M | 15.29M | 6.97M | 4.82M | 6.2M | 4.96M | 3.22M | 2.18M | 1.87M | 414.69K | 368.28K | 486.28K | 949.67K | 290.04K | 251.29K | 116.96K | 137.35K | 8.58K |
| OpEx % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Selling, General & Admin | 6.18M | 5.9M | 6.15M | 7.94M | 7.27M | 4.96M | 1.84M | 1.29M | 1.85M | 1.09M | 1.23M | 1.73M | 414.69K | 368.28K | 486.28K | 949.67K | 96.22K | 102.29K | 116.96K | 137.35K | 8.58K |
| SG&A % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Research & Development | 25.8M | 21.53M | 27.18M | 15.34M | 8.02M | 2.02M | 2.98M | 4.92M | 3.11M | 2.13M | 944.91K | 137.58K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | -2.54K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 193.82K | 149K | 0 | 0 | 0 |
| Operating Income | -32.01M | -27.54M | -33.33M | -23.27M | -15.29M | -7.11M | -4.84M | -6.22M | -4.97M | -3.22M | -2.18M | -1.87M | -475.85K | -288.42K | -558.39K | -1.01M | -333.51K | -251.45K | -116.96K | -137.35K | -8.58K |
| Operating Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating Income Growth % | - | 17.38% | -43.22% | -52.22% | -114.96% | -47.06% | 22.23% | -25.03% | -54.64% | -47.76% | -16.26% | -293.55% | -64.99% | 48.35% | 44.48% | -201.58% | -32.63% | -114.98% | 14.84% | -1500.68% | - |
| EBITDA | -31.89M | -27.43M | -33.25M | -23.26M | -15.27M | -7.1M | -4.82M | -6.2M | -4.96M | -3.22M | -2.18M | -1.87M | -474.64K | -288.01K | -556.66K | -1M | -332.18K | -251.29K | -116.96K | -137.35K | -8.58K |
| EBITDA Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBITDA Growth % | -31.84% | 17.5% | -42.95% | -52.27% | -115.21% | -47.31% | 22.3% | -25.08% | -54.13% | -47.87% | -16.2% | -294.43% | -64.8% | 48.26% | 44.52% | -202.06% | -32.19% | -114.84% | 14.84% | -1500.68% | - |
| D&A (Non-Cash Add-back) | 112.91K | 107.93K | 83.9K | 15.27K | 15.27K | 15.55K | 18.73K | 18.73K | 16.89K | 290 | 1.79K | 565 | 1.21K | 404 | 1.73K | 2.4K | 1.33K | 166 | 0 | 0 | 0 |
| EBIT | -31.59M | -27.54M | -4.93M | -23.27M | -26.84M | -7.11M | -4.84M | -6.22M | -4.97M | -3.22M | -2.18M | -1.87M | -475.85K | -288.42K | -558.39K | -1.01M | -333.51K | -251.45K | -116.96K | -137.35K | 0 |
| Net Interest Income | 377.06K | 83.99K | 288.02K | 891.21K | 135.75K | -76.88K | -36.19K | -19.3K | -4.37K | 6.42K | 4.74K | 9.22K | 13.08K | 17.41K | 38.05K | 12.74K | 2.98K | 2.93K | 15.57K | 13.46K | 0 |
| Interest Income | 406.69K | 121.42K | 288.02K | 891.21K | 136.73K | 3.21K | 0 | 12K | 15.98K | 6.42K | 4.74K | 9.22K | 13.08K | 17.41K | 38.05K | 12.74K | 2.98K | 2.93K | 15.57K | 13.46K | 0 |
| Interest Expense | 29.63K | 37.43K | 0 | 0 | 979 | 80.09K | 36.19K | 31.3K | 20.35K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 1.05M | 656.6K | 28.4M | 2.97M | -11.55M | -6.84M | -104.47K | 432.48K | -435.98K | -2.48K | -37.58K | -1.61M | -8.41M | -91.32K | -438.41K | -23.39K | -592.05K | 5.44K | 15.57K | 13.46K | 0 |
| Pretax Income | -30.95M | -26.88M | -4.93M | -20.3M | -26.84M | -13.82M | -4.94M | -5.79M | -5.41M | -3.22M | -2.21M | -3.49M | -8.88M | -379.74K | -996.8K | -1.03M | -925.56K | -246.01K | -101.39K | -123.89K | 0 |
| Pretax Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8.58K |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | - |
| Net Income | -30.65M | -26.63M | -4.79M | -20.3M | -26.84M | -13.82M | -4.94M | -5.79M | -5.41M | -3.22M | -2.21M | -3.49M | -8.88M | -379.74K | -996.8K | -1.03M | -925.56K | -246.01K | -101.39K | -123.89K | -8.58K |
| Net Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Income Growth % | -57.86% | -455.85% | 76.4% | 24.35% | -94.26% | -179.62% | 14.62% | -6.96% | -68.06% | -45.36% | 36.48% | 60.75% | -2239.37% | 61.9% | 3.15% | -11.2% | -276.22% | -142.65% | 18.16% | -1343.76% | - |
| Net Income (Continuing) | -30.95M | -26.88M | -4.93M | -20.3M | -26.84M | -13.82M | -4.94M | -5.79M | -5.41M | -3.22M | -2.21M | -3.49M | -8.88M | -379.74K | -996.8K | -1.03M | -925.56K | -246.01K | -101.39K | -123.89K | -8.58K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | -649.1K | -548.67K | -302.52K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -4.23 | -62.95 | -43.68 | -195.00 | -259.50 | -467.51 | -1038.19 | -1497.36 | -1799.26 | -1349.43 | -1349.95 | -2248.52 | -21928.45 | -1461.86 | -2922.90 | -4387.51 | -7308.64 | -4381.91 | -2924.68 | -4456.52 | -0.00 |
| EPS Growth % | 85.19% | -44.12% | 77.6% | 24.86% | 44.49% | 54.97% | 30.67% | 16.78% | -33.33% | 0.04% | 39.96% | 89.75% | -1400.04% | 49.99% | 33.38% | 39.97% | -66.79% | -49.83% | 34.37% | - | - |
| EPS (Basic) | - | -62.95 | -43.68 | -195.00 | -259.50 | -467.51 | -1038.19 | -1497.36 | -1799.26 | -1349.43 | -1349.95 | -2248.52 | -21928.45 | -1461.86 | -2922.90 | -4387.51 | -7308.64 | -4381.91 | -2924.68 | -4456.52 | -0.00 |
| Diluted Shares Outstanding | 7.25M | 423.11K | 109.7K | 104.13K | 103.29K | 30.13K | 4.76K | 3.86K | 2.85K | 2.26K | 1.92K | 1.65K | 393 | 393 | 392 | 218 | 121 | 60 | 32 | 28 | 2.05M |
| Basic Shares Outstanding | 7.25M | 423.11K | 109.7K | 104.13K | 103.29K | 30.13K | 4.76K | 3.86K | 2.85K | 2.26K | 1.92K | 1.65K | 393 | 393 | 392 | 218 | 121 | 60 | 32 | 28 | 2.05M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Clinical trial funding dependency
As reported in recent financial filings, BriaCell's quarterly research and development expenditures have fluctuated between $3.7 million and $8.3 million, reflecting the high-cost nature of clinical trial execution and the ongoing development of the SV-BR-1 platform without any offsetting commercial revenue streams to mitigate these expenses.
The company's cost structure is almost entirely comprised of R&D, which is typical for a pre-revenue biotechnology firm. Investors should monitor whether the recent stabilization of R&D costs near $6 million per quarter indicates improved operational efficiency or merely a temporary pause in trial enrollment activities.
Based on the provided income statement data, BriaCell maintains a consistent operating loss profile, with quarterly losses ranging from $5.2 million to $9.9 million, underscoring the lack of operational leverage as the company remains entirely dependent on external capital to fund its ongoing clinical development programs.
Because the company generates no revenue, traditional operating leverage metrics are not applicable. The persistent negative operating income suggests that the firm's financial health is tethered to its ability to manage clinical trial timelines rather than achieving economies of scale in its current development phase.
According to the historical income statements, BriaCell's net income figures have experienced significant volatility, including a positive $1.7 million in 2024Q3, which appears to be driven by non-operating items such as warrant liability revaluations rather than any fundamental improvement in the company's core operational or commercial performance.
The presence of these non-cash fluctuations complicates the assessment of the company's true burn rate. Analysts should focus on the operating loss rather than net income to gain a clearer understanding of the actual cash requirements needed to sustain the business through its next clinical milestones.
With reported cash and equivalents of approximately $10.5 million, the company faces a precarious financial position, as the current quarterly burn rate suggests that BriaCell may require additional dilutive financing within the next 12 to 18 months to continue its clinical trial operations without interruption.
The reliance on equity markets for survival creates a significant overhang for existing shareholders. If the company fails to reach a value-inflection point through positive clinical data, the necessity for further capital raises could lead to substantial dilution, potentially impairing the long-term value of the equity.
Quick answers to the most common questions about buying BCTXZ stock.
For fiscal year 2025, BriaCell Therapeutics Corp. Warrant (BCTXZ) reported total revenue of $0.0M.
BriaCell Therapeutics Corp. Warrant (BCTXZ) reported a net loss of $26.6M for the fiscal year ending 2025.