0001437749-26-017371
SEC filingFirst-quarter revenue of $25K from DRP testing services, with operating loss improving 11.5% to -$2.7M on lower legal fees, though net loss widened slightly.
Net cash used in operating activities was $4.5 million for the three months ended March 31, 2026, compared to $2.7 million in the prior year period. The increase in cash burn was primarily due to higher prepaid expenses and other working capital changes. Capital expenditures were $64,000, resulting in free cash flow of negative $4.6 million. The company's cash position and financing activities are discussed in the Liquidity and Capital Resources section.
Management believes that existing cash and cash equivalents will be sufficient to fund anticipated expenditures and commitments for the next twelve months. The company expects research and development expenses on stenoparib to increase substantially for the foreseeable future as it continues to invest to accelerate clinical trials designed to attain regulatory approval. Substantially all net losses have resulted from costs incurred in connection with research and development programs and from general and administrative costs associated with operations.