1Gross profit fell 100% YoY to $0, driven by conclusion of the zero-margin HyBryte™ investigator-initiated study grant.
2Net loss widened 34% YoY to -$11.1M, fueled by increased R&D spending for the Phase 3 CTCL and Phase 2a BD clinical programs.
3Diluted EPS improved 57% YoY to -$2.14, driven by expanded share count from 2025 financing activities.
4Operating loss widened 25.5% YoY to -$11.8M, aligned with planned targeted investment in the company's late-stage clinical pipeline.
5FY2025 free cash flow was -$10.3M, resulting from cash used in operating activities and modest capital expenditures of ~$5.9K.
6The company faces potential liquidity risks if adequate capital is not secured, which could force delays or reductions to pipeline advancement efforts.
7Phase 3 FLASH2 CTCL trial interim results are expected in Q2 2026, with top-line results in H2 2026 as a key near-term value catalyst.