0001055726-26-000018
SEC filingQ1 FY2026 operating losses narrowed on cost controls, but revenue fell to zero and cash burn continued, with substantial doubt about going concern.
Revenue for Q1 2026 was $0, compared to $65,343 in Q1 2025, a 100% decline. The decrease was primarily due to a decrease in expenses earned under sub-grants through Wistar. Operating income improved 12.4% to -$21,949,993 from -$25,050,529, driven by disciplined cost control in research and development and general and administrative activities.
The company expects to continue incurring substantial operating losses due to ongoing research and development programs, preclinical studies, clinical trials, and regulatory activities. A collaborator, ApolloBio Corporation, continues a Phase 3 trial in China for one candidate. The company entered into a clinical collaboration and supply agreement with Coherus BioSciences, Inc. to support its pipeline.