0001493152-26-013861
SEC filingOperating Income was -$20.1M (-61.7%) Net Income was -$35.9M (-194.5%) Eps was $-1.12 (88.1%)
In fiscal 2025, Tharimmune advanced its strategic shift to the Canton digital asset treasury strategy, part of a broader initiative to enhance platform capital efficiency, diversify treasury management practices, and engage with emerging financial technologies. In connection with this pivot, the company completed a private placement offering in November 2025, strengthening its liquidity position to support the new strategy alongside ongoing biotech research and development activities. The fair value of all stock option grants issued during the period was estimated on the grant date using the Black-Scholes option-pricing model, consistent with company accounting policy.
Management confirmed that the 2025 private placement has positioned the company with sufficient liquidity to cover anticipated operating and working capital requirements through at least March 2027. Looking ahead, the company expects general and administrative expenses to increase as it adds headcount to support both the digital asset treasury strategy and continued development of its biotech product candidates. The company noted recurring operating losses and negative cash flows from operations are expected to continue for the foreseeable future as it invests in both business segments, which may adversely impact working capital, profitability, and stock performance. All forward-looking statements are subject to known and unknown risks, including regulatory changes, digital asset market volatility, and clinical development risks for its biotech pipeline.