EMMA · Emmaus Life Sciences, Inc.

Emmaus Life Sciences announced its Q1 2026 financial results via press release on May 15, 2026, highlighting challenges and improvements. Net revenues fell 18% year-over-year to $2.0 million, primarily from a 33% U.S. sales decline due to generic L-Glutamine competition introduced mid-2024, partially offset by a remarkable 446% sales surge in the MENA region. CEO Willis Lee noted the revenue pressures but emphasized operational progress, with loss from operations improving 16% to $0.8 million. This stemmed from aggressive cost reductions initiated in late 2024, slashing operating expenses by 17% to $2.6 million through lower R&D, G&A, and headcount cuts. However, net loss expanded to $3.3 million ($0.05 per share, 70.2 million shares) from $2.3 million ($0.04 per share, 63.9 million shares), driven by other expenses doubling to $2.5 million from higher interest and derivative fair value changes. Balance sheet shows liquidity strain with cash at $1.1 million versus $2.1 million at December 31, 2025, amid $70.5 million current liabilities and $67.9 million stockholders' deficit. Endari remains key for sickle cell disease treatment, approved in multiple markets including U.S., Israel, and Gulf states. No forward guidance provided; investors should monitor ongoing competition and cash burn.