Genelux Corporation

Genelux Corporation (GNLX), a clinical-stage biopharmaceutical company developing oncolytic viral immunotherapies, reported a net loss of $32.1 million for FY 2025, up 7.6% YoY from $29.9 million in FY 2024, driven by higher operating expenses of $33.2 million versus $31.7 million prior year. Revenue remained negligible at $8K, consistent YoY, from a minor licensing agreement. Research and development expenses rose 4.5% to $19.9 million, primarily due to increased clinical trial costs for the Phase 3 OnPrime/GOG-3076 trial in platinum-resistant ovarian cancer. General and administrative expenses increased 5.3% to $13.4 million, reflecting headcount growth and public company costs. Operating loss widened to $33.2 million from $31.7 million. Other income fell to $1.1 million from $1.8 million, due to lower bond accretion and no gain on accounts payable extinguishment. Balance sheet shows $19.0 million total assets, with $14.6 million in cash equivalents and marketable securities (pro forma $33.1 million post-January 2026 offering), $11.5 million stockholders' equity, amid going concern doubts. Net cash used in operations was $25.3 million. Cash runway extends into Q1 2027, supporting Olvi-Vec trials in ovarian, NSCLC, and SCLC cancers, with topline Phase 3 data expected H2 2026.

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