0001193125-26-206390
SEC filingFirst-quarter 2026 results reflect increased clinical investment, with operating loss widening to $14.9M and net loss to $13.2M, while cash position supports operations into 2030.
Key working capital changes included a decrease in accounts payable due to timing of vendor invoices, a decrease in accrued expenses primarily from lower accrued compensation, and an increase in prepaid expenses and other current assets due to higher prepayments to clinical research organizations (CROs) for clinical trial work. These changes reflect the ongoing clinical activity and our commitment to advancing the pipeline.
We continue to advance Haduvio for the treatment of chronic cough in IPF and other conditions. While we have not generated any revenue to date and expect to incur significant operating losses and negative cash flows as we progress our development program, our current cash position provides a solid foundation. We anticipate that general and administrative expenses will increase as we prepare for compliance with Section 404 of the Sarbanes-Oxley Act and expand our infrastructure. Our ability to fund operations into 2030 is subject to risks, including the timing and cost of clinical trials and potential delays.