(RTTNews) - Check-Cap Ltd. (CHEK) posted a third quarter net loss of $2.6 million, compared to a loss of $4.7 million, last year. Loss per share was $0.44 compared to a loss of $0.81. Cash and cash equivalents, restricted cash and short-term bank deposits as of September 30, 2023 were $28.2 million.
In anticipation of the initiation of the strategic development plan, management terminated the majority of the company's research and development activities. As a result, investment in research and development activities and in clinical trials was reduced to $30 thousand from $3.6 million, last year.
Check-Cap has scheduled an Annual General Meeting of shareholders to be held on December 18, 2023.
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