0001493152-26-013301
SEC filingAIM ImmunoTech Inc. reported a net loss of $14.0 million for FY 2025, an improvement from a $17.3 million loss in FY 2024. Total revenues were minimal at $88K, derived solely from clinical treatment programs. The company incurred significant operating losses of $11.7 million, driven by high research and development ($3.9M) and general and administrative ($7.7M) expenses. Cash and cash equivalents stood at $3.0M, with total assets of $5.8M. The balance sheet shows a stockholders' deficit of $9.8M, and the company is not in compliance with NYSE American listing requirements, which mandate a minimum stockholders' equity of $6.0M. Management has submitted a plan to regain compliance by June 11, 2026.
AIM ImmunoTech Inc. reported a net loss of $14.0 million for the fiscal year ended December 31, 2025, which represents an improvement from a net loss of $17.3 million in the prior year. Total revenues were minimal at $88 thousand, derived entirely from clinical treatment programs in the U.S., compared to $170 thousand in FY 2024. The company's operating loss was $11.7 million, driven by total costs and expenses of $11.8 million, which included research and development expenses of $3.9 million and general and administrative expenses of $7.7 million. Basic and diluted loss per share were both $9, compared to $31 in the prior year, with weighted average shares outstanding of 1.6 million.
Revenue for FY 2025 was $88 thousand, a decrease of $82 thousand from the prior year. This revenue is solely attributed to clinical treatment programs in the U.S., with no other revenue streams disclosed. The decrease is noted as primarily related to fluctuations in patient participation in the Ampligen Cost Recovery Program. The company does not generate material revenue from operations and does not anticipate doing so in the near future.
The company's operating loss was $11.7 million for FY 2025. Gross margin is not calculable as cost of goods sold is not separately disclosed; production costs were $128 thousand. The net loss improvement of $3.4 million year-over-year was primarily due to decreases in general and administrative expenses ($6.0M) and research and development expenses ($2.3M), partially offset by a loss on warrant issuance of $4.0M and a decrease in interest and other income of $2.0M.
Net cash used in operating activities was $11.0 million for FY 2025. Cash and cash equivalents were $3.0 million as of December 31, 2025, with total current assets of $3.3 million. Total assets were $5.8 million, while total liabilities were $15.6 million, resulting in a stockholders' deficit of $9.8 million. The company had a working capital deficit, with current liabilities of $6.2 million exceeding current assets. Cash flows from financing activities provided $10.4 million, primarily from proceeds from issuance of liability warrants and common stock.
Management states there is substantial doubt about the company's ability to continue as a going concern due to recurring losses, working capital deficit, and stockholders' equity below NYSE American listing requirements. The company must increase stockholders' equity to at least $6.0 million to regain compliance by June 11, 2026. AIM will require additional financing for operations and clinical trials, as it does not anticipate generating material revenue in the near future. Key risk factors include potential delisting, dilution from future securities issuances, and the investigational status of its drug candidates.