0001193125-26-222779
SEC filingRevenue grew 21.6% to $13.7M on strong PEMGARDA demand, but operating losses widened to $43.1M as R&D spending surged, raising going-concern risk.
The company has incurred significant operating losses and negative cash flows from operations through March 31, 2026. Management has flagged substantial doubt about the company's ability to continue as a going concern. The proceeds of the Term Facility may be used for working capital and general business purposes. The company will likely need additional financing through equity, debt, or partnerships to fund operations beyond the next twelve months.
Diluted EPS improved to -$0.13 from -$0.14, primarily due to a higher weighted-average share count, which diluted the loss per share.
Management expects SG&A expenses to increase further as the company expands headcount to support R&D and commercialization. The DECLARATION trial is expected to report top-line data in Q3 2026. The company is also advancing preclinical programs in RSV and measles. Given the cash burn and going concern warning, the company will likely need additional financing through equity, debt, or partnerships to fund operations beyond the next twelve months.