Quarterly ResultMay 14, 2026, 04:15 PM
PDS Biotech Q1 Net Loss $(7.35)M; Going Concern Doubt Raised
AI Summary
PDS Biotechnology reported a net loss of $(7.35) million for Q1 2026, an improvement from $(8.49) million in Q1 2025, with net loss per share improving to $(0.13). Operating expenses and net cash used in operating activities both decreased year-over-year. However, the company's cash and cash equivalents significantly decreased to $21.7 million, and it explicitly raised substantial doubt about its ability to continue as a going concern for the next 12 months.
Key Highlights
- Q1 2026 net loss was $(7.35) million, an improvement from $(8.49) million in Q1 2025.
- Net loss per share improved to $(0.13) in Q1 2026 from $(0.21) in Q1 2025.
- Cash and cash equivalents decreased to $21.7 million as of March 31, 2026, from $26.7 million at Dec 31, 2025.
- Total operating expenses decreased to $6.52 million in Q1 2026 from $9.11 million in Q1 2025.
- Net cash used in operating activities was $(4.37) million in Q1 2026, down from $(9.03) million in Q1 2025.
- Company raised substantial doubt about its ability to continue as a going concern.
- Sold 937,420 common shares for $0.85 million via ATM program in Q1 2026.
- Redeemed $1.5 million of Debentures principal in Q1 2026.