06:31 AM EDT, 06/26/2024 (MT Newswires) -- Appili Therapeutics ( APLIF ) , a biopharmaceutical company focused on drug development for infectious diseases, late on Tuesday said its fiscal fourth-quarter net loss declined by half, mainly because of an increase in government assistance.

The company reported a fiscal fourth-quarter net loss of $1.1 million, or $0.01 per share, compared with a loss of $2.2 million, or $0.02 per share, a year earlier.

Revenue for the quarter ended March 31 was $11,697, down from $334,177 in Q4 2023, in large part because of the recognition of a one-time milestone revenue in the previous year.

Total income for the quarter was $12,259, down from $340,784 a year ago.

The company managed to narrow its quarterly loss as government assistance increased by about $1.8 million in Q4, as compared with the year-ago quarter, mainly due to the cost reimbursement from the USAFA Cooperative Agreement to support the development of ATI-1701, a novel, live-attenuated vaccine designed to prevent F. Tularensis, in Q4 2024.

On March 31, 2024, the company reported cash of $0.1 million, as compared with $2.5 million on March 31, 2023.

The company's shares fell over 11% in Canada yesterday.