Cash and cash equivalents were $5.0 million as of March 31, 2024, compared to $2.8 million as of December 31, 2023. During the quarter, the Company received total gross proceeds of approximately $4.3 million from recent warrant exercises. Including the proceeds from warrant exercises, the Company believes that its existing cash and cash equivalents will allow it to accelerate the development of AD04 and fund its operating expenses into the first quarter of 2025.
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