Quarterly ResultMay 14, 2026, 04:07 PM
Actuate Therapeutics Q1 Net Loss $(5.63)M; Going Concern Doubt
AI Summary
Actuate Therapeutics reported a net loss of $(5.63) million for the first quarter of 2026, an improvement from $(6.32) million in the same period last year. Despite the reduced loss, the company's cash and cash equivalents significantly declined to $8.13 million from $13.16 million at the end of 2025. Management expressed substantial doubt about the company's ability to continue as a going concern beyond July 2026 without securing additional capital.
Key Highlights
- Net loss for Q1 2026 was $(5.63) million, an improvement from $(6.32) million in Q1 2025.
- Cash and cash equivalents decreased to $8.13 million as of March 31, 2026, from $13.16 million at December 31, 2025.
- Management anticipates cash on hand will not satisfy operational requirements beyond July 2026, raising substantial doubt about going concern.
- Net loss per share improved to $(0.24) in Q1 2026 from $(0.32) in Q1 2025.
- Research and development expenses decreased to $2.57 million in Q1 2026 from $3.22 million in Q1 2025.
- Net cash used in operating activities increased to $(5.02) million in Q1 2026 from $(4.62) million in Q1 2025.
- The company sold 198,793 shares under its At-the-Market facility for net proceeds of $519,624 in Q1 2026, with $99.5 million remaining capacity.
- Total stockholders' equity decreased to $3.78 million as of March 31, 2026, from $7.92 million at December 31, 2025.