Revenue Growth
Total revenues for the first half of 2025 were approximately $3.2 million, a significant increase from $2.3 million in the first half of 2024, driven by strong seed sales from subsidiary Casterra.
Cost Reduction and Efficiency
Implemented a cost reduction plan, reducing R&D expenses to $4.8 million from $6.5 million and sales and marketing expenses to $800,000 from $1.1 million year-over-year.
Strategic Shift and Partnership with Google Cloud
Completed version 1 of a first-in-class generative AI foundation model for small molecule design in collaboration with Google Cloud, enhancing ChemPass AI's capabilities.
Successful Fundraising
Raised $4.4 million through an at-the-market facility with Lake Street Capital Market, providing a solid financial foundation and an operational runway of approximately 18 months.