0001357459-26-000010
SEC filingNet loss increased to -$9.6M from -$2.2M, driven by higher operating expenses, while diluted EPS improved to -$0.05 from -$0.47 due to a higher share count.
For the three months ended March 31, 2026, we reported an operating loss of $10.7 million compared to $2.3 million for the same period in 2025. The increase in operating loss was primarily driven by higher research and development expenses and general and administrative costs associated with our ongoing clinical trials. Net loss for the quarter was $9.6 million, or $0.05 per diluted share, compared to a net loss of $2.2 million, or $0.47 per diluted share, in the prior year period. The improvement in diluted earnings per share was due to a significant increase in weighted-average shares outstanding following the October 2025 offering.
We expect that significant additional capital will be needed in the future to continue our planned operations. We have incurred significant operating losses and negative cash flows from operations since our inception and have not been able to generate significant revenues nor achieve operating profitability. Our future capital requirements will depend on many factors, including the progress of our clinical trials, the timing and costs of regulatory submissions, and our ability to establish collaborations.