Quarterly ResultJun 26, 2026, 03:06 PM
BetterLife Pharma Q1 Net Loss Widens to $612,622; Secures $2M Financing
AI Summary
BetterLife Pharma Inc. reported a significant increase in net loss for the three months ended April 30, 2026, reaching $612,622, compared to $207,054 in the prior year, primarily due to higher operating expenses and foreign exchange losses. The company continues to face a substantial working capital deficiency of $6.4 million. However, BetterLife secured $2 million in convertible debenture financing post-period and is advancing its lead drug candidate, BETR-001, towards Phase 1 clinical trials for neurological pain indications.
Key Highlights
- Net loss for Q1 2026 widened to $612,622, up from $207,054 in Q1 2025.
- Operating expenses increased by $274,000 to $585,119 for the quarter.
- Working capital deficiency stood at $6,406,691 as of April 30, 2026.
- Secured $2,000,000 in convertible debenture financing from a director post-period.
- Received $258,000 in subscription proceeds from a private placement during the quarter.
- Granted 6.75 million stock options to directors and officers post-period.
- Extended maturity dates for over 14 million share purchase warrants.
- Progressing BETR-001 (non-hallucinogenic neuroplastogen) towards Phase 1 clinical trials.
Price Impact
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