Quarterly ResultMay 8, 2026, 04:47 PM
Decoy Therapeutics Q1 Net Loss $(2.22M); Going Concern Doubt
AI Summary
Decoy Therapeutics Inc. reported a net loss of $(2.22) million for Q1 2026, a significant increase from $(1.71) million in Q1 2025. The company's cash, cash equivalents, and restricted cash decreased to $7.82 million from $10.71 million at year-end 2025. Management expressed substantial doubt about the company's ability to continue as a going concern due to recurring losses and lack of product sales revenue, indicating a need for additional capital to fund operations. The company recently completed a merger with Legacy Decoy and effected two reverse stock splits.
Key Highlights
- Substantial doubt about Decoy Therapeutics' ability to continue as a going concern.
- Net loss for Q1 2026 was $(2,224,628), compared to $(1,709,533) in Q1 2025.
- Cash, cash equivalents, and restricted cash decreased to $7,820,608 by March 31, 2026.
- Total operating expenses increased to $2,283,739 in Q1 2026 from $1,718,695 in Q1 2025.
- Stockholders' equity decreased to $3,877,385 at March 31, 2026 from $5,888,969 at December 31, 2025.
- Two reverse stock splits (1-for-15 in Aug 2025, 1-for-12 in Mar 2026) were effected.
- Research and development expenses rose to $749,813 in Q1 2026 from $75,532 in Q1 2025.
- The company completed a merger with Legacy Decoy in November 2025 and changed its name in January 2026.