Hepion Pharmaceuticals, Inc.

Hepion Pharmaceuticals, Inc. reported a net loss of $8.3 million for fiscal year 2025, consistent with its historical trend of operating losses and lack of revenue. The company's operations consumed $3.3 million in cash, primarily driven by a $4.2 million operating loss. While financing activities provided $4.8 million in net cash through equity and warrant issuances, the company ended the year with only $1.8 million in cash and has expressed substantial doubt about its ability to continue as a going concern beyond the third quarter of 2026. The company transitioned from drug development to medical diagnostics during 2025, licensing diagnostic tests and divesting its rencofilstat assets, but faces significant liquidity challenges and has only two employees as of year-end.

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