Summary by Moomoo AI
180 Life Sciences Corp. reported financial results for the quarter ended March 31, 2024, with a net loss of $1,069,744, a decrease from the net loss of $4,762,078 for the same period in 2023. Research and development expenses decreased by 37% to $365,186, while general and administrative expenses saw a significant reduction of 61% to $1,556,740. The company also reported other income of $1,022,724, primarily due to the forgiveness of certain R&D program-related liabilities. Despite these changes, the company continues to face challenges, including non-compliance with Nasdaq's continued listing standards regarding minimum stockholders' equity, which has resulted in a delisting determination letter from Nasdaq. The company is actively seeking to regain compliance and is considering strategic alternatives to maximize shareholder value. Future plans include continued development of...Show More