How did Greenwich's expenses impact profits in Q3 2024?

Greenwich's expenses had a significant impact on profits in Q3 2024. The company reported a net loss of $2.1 million for the quarter, which was largely attributed to increased expenses. Here are the key points to consider:

1. **Expense Increases**: The primary reason for the net loss was the rise in operating expenses, which increased by approximately $1.7 million compared to the same period the previous year. This included higher costs related to research and development, as well as increased selling, marketing, and distribution expenses.
2. **Research and Development Costs**: A significant portion of the expense increase was due to higher research and development costs, amounting to approximately $1.5 million. This was primarily driven by investments in the company's innovation pipeline and the development of new products.
3. **Selling, Marketing, and Distribution Expenses**: In addition to research and development, selling, marketing, and distribution expenses also contributed to the rise in total expenses. These costs increased by about $0.2 million, reflecting the company's efforts to expand its customer base and increase brand awareness.
4. **General and Administrative Expenses**: Other general and administrative expenses, which include costs related to staffing, infrastructure, and corporate functions, remained relatively stable compared to the previous year.
5. **Impact on Profitability**: The combination of these expense increases placed a significant strain on profitability, resulting in a net loss for the quarter. This was particularly challenging given the competitive nature of the biotechnology sector, where rapid growth in expenses can often outpace revenue gains.

In summary, Greenwich's expenses in Q3 2024 had a profound impact on profits, primarily due to increased operating expenses, research and development costs, and selling, marketing, and distribution expenses. These factors combined to result in a substantial net loss for the company during the period.