Lakewood-Amedex Lists on Nasdaq, Secures $7.5M Series C Funding
Lakewood-Amedex Biotherapeutics Inc. reported a net loss of $923,291 for Q1 2026, an increase from $539,617 in Q1 2025, and ended the quarter with only $11,709 in cash, raising substantial doubt about its ability to continue as a going concern. Subsequent to the quarter, the company completed a $7.5 million Series C Convertible Preferred Stock offering and listed on the Nasdaq Capital Market. These actions led to the automatic conversion of $1.5 million in convertible notes and all Series A and B preferred stock into common stock, including $10.6 million in Series B dividends. While these capital actions improved liquidity through Q4 2026, additional funding will be required thereafter, and the going concern doubt persists.
Key Highlights
- Q1 2026 net loss increased to $923,291 from $539,617 in Q1 2025.
- Cash and cash equivalents fell to $11,709 by March 31, 2026.
- Total current liabilities rose to $3,027,696 as of March 31, 2026.
- Completed $7.5 million gross Series C Preferred Stock offering in April 2026.
- Listed on Nasdaq Capital Market on April 23, 2026.
- $1.5 million convertible notes and all preferred stock converted to common.
- $10.6 million Series B dividends settled by issuing 1,704,242 common shares.
- Company still requires additional capital beyond Q4 2026.
Price Impact
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