0001493152-26-006526
SEC filingRegen BioPharma, Inc. (RGBP) reported a challenging fiscal Q1 2026, characterized by minimal revenue generation and significant operational losses. For the period ending December 31, 2025, the company recorded total revenue of $59K, entirely derived from related party transactions. Operating expenses totaled $611K, driven primarily by Research and Development ($210K) and Selling, General and Administrative costs ($232K). Consequently, the company reported a substantial net loss of -$968K for the quarter. The balance sheet reflects a precarious liquidity position with total assets of only $237K against total current liabilities of $6.8M, resulting in a stockholders' deficit of -$6.6M. Cash reserves are critically low at $5K, though the cash flow statement indicates a period-end cash balance of $70K following $133K in financing activities. The company is funding operations through equity issuance and debt, as evidenced by $192K raised from common stock issued for cash and significant outstanding convertible notes.
Regen BioPharma, Inc. reported a net loss of -$968K for the fiscal first quarter ended December 31, 2025. Total revenue was minimal at $59K, entirely attributed to related party transactions. Operating expenses reached $611K, resulting in a loss from operations of -$552K. The company also incurred significant non-operating expenses totaling -$416K, largely driven by a -$381K non-operating expense item and $27K in interest expense. The weighted average shares outstanding increased substantially to 99.6 million. No prior period comparisons were provided in the XBRL data, limiting trend analysis, but the financial posture indicates an early-stage or distressed biotech entity with high burn relative to revenue.
Revenue for the quarter was $59K. The XBRL data explicitly identifies this revenue as stemming from both "Nonrelated Party" and "Related Party" sources, though the amounts listed are identical ($59K), suggesting the revenue is categorized under related party transactions. Given the nature of the business (BioPharma), this revenue likely relates to licensing or research collaborations rather than product sales. The revenue figure is insufficient to cover operating costs, resulting in a heavy reliance on external financing to sustain operations.
The company's cost structure resulted in a negative operating margin of approximately -935.6% (Loss from operations of $552K / Revenue of $59K). Research and Development expenses ($210K) and Selling, General and Administrative expenses ($232K) were the primary cost drivers. Professional fees ($154K) also represented a significant portion of the operating burn. The net profit margin was deeply negative. The interest expense of $27K and non-operating losses further eroded the bottom line, expanding the net loss to -$968K.
The balance sheet reveals significant financial stress. Total assets stand at $237K, comprised mainly of cash ($5K) and related party accounts receivable ($232K). In contrast, total current liabilities are $6.8M, creating a severe working capital deficit. Major liabilities include a derivative liability of $2.5M, accrued expenses of $1.9M, and unearned income of $1.3M. The company reported a stockholders' equity deficit of -$6.6M. Cash flow from operating activities was negative at -$198K. However, financing activities provided $133K, primarily through $192K from common stock issued for cash, boosting the ending cash balance to $70K.
The filing does not contain specific forward-looking guidance or management commentary in the provided text. However, the financial data indicates the company is in a capital-raising phase. The authorization of 5.8 billion shares and the issuance of common stock for cash ($192K), compensation ($400K), and debt ($68K) suggest aggressive dilution strategies to manage the deficit and fund operations. The derivative liability of $2.5M points to complex financing instruments, likely convertible notes with variable conversion features, which poses ongoing risk to shareholders.