CNBX · CNBX Pharmaceuticals Inc.

Results of Operations for the Three Months Ended February 28, 2026 and February 28, 2025 reflect persistent pre-revenue challenges for CNBX Pharmaceuticals. Total operating expenses reached $72,963 in Q2 FY2026, up from $64,743 in the prior year quarter, widening the operating loss as the company advances its CRC drug candidate RCC-33 in pre-clinical stages. This increase stems from elevated general administration expenses, underscoring cost pressures in a lean operation focused on clinical preparation without revenue generation.

The net loss improved to -$44,098 from -$69,788 year-over-year, a meaningful shift attributable to financial income from the realization of convertible loans. Management notes this offset the operating shortfall, highlighting how non-operating items provide temporary relief in the absence of product sales. However, such gains are non-recurring and do not address core operational deficits.

Management emphasizes that continued existence hinges on securing additional capital through debt, equity, or eventual revenue—none of which are currently arranged. Without inflows, operations face severe viability risks, amplifying going concern doubts. No off-balance sheet arrangements exist that could materially impact financial condition or liquidity. Investors should note the absence of revenue-generating activities and execution risks in advancing RCC-33, as trial delays from prior expectations compound funding urgency in this capital-intensive sector.