NLS Pharmaceutics AG, an emerging biopharmaceutical company focused on developing therapies for rare and complex central nervous system disorders, reported its financial results for the fiscal year ending December 31, 2024. The company recorded a net loss of $1.980810 million for 2024, a significant improvement compared to a net loss of $12.172029 million in 2023. This reduction in net loss was primarily attributed to a $7.426950 million decrease in total operating costs and a $2.499969 million increase in other income, notably due to the termination of the EF Licensing Agreement. NLS Pharmaceutics AG highlighted its ongoing dependence on debt and equity financings to meet future cash requirements, as the company has yet to generate significant recurring revenues. The company acknowledged uncertainties regarding the availability of additional funding on favorable terms, which could impact its operations and raise substantial doubt about its ability to continue as a going concern. Additionally, the company's tax loss carryforwards totaled $45.8 million as of December 31, 2024. However, there is no certainty that sufficient profits will be realized to fully utilize these carryforwards. The effective corporate income tax rate in Zurich, Switzerland, where the company is domiciled, is currently 10.6%. NLS Pharmaceutics AG did not report any material recent trends beyond those mentioned in the annual report.