Quarterly ResultMay 14, 2026, 01:58 PM
Provectus Biopharma Q1 Net Loss $1.3M; Going Concern Doubt
AI Summary
Provectus Biopharmaceuticals reported a net loss of $1,300,949 for the first quarter of 2026, an increase from $1,161,602 in the prior year's quarter. The company's cash balance declined to $223,883, and its working capital deficit grew to $6,781,376. The company continues to incur significant operating losses, which raises substantial doubt about its ability to continue as a going concern.
Key Highlights
- Net loss for Q1 2026 was $1,300,949, compared to $1,161,602 for Q1 2025.
- Cash balance decreased to $223,883 at March 31, 2026, from $251,291 at December 31, 2025.
- Working capital deficit increased to $6,781,376 at March 31, 2026, from $6,329,504.
- No grant revenue was recorded in Q1 2026, down from $278,628 in Q1 2025.
- Cash used in operating activities was $357,565 for Q1 2026, a decrease from $1,093,444 in Q1 2025.
- Company continues to incur significant operating losses, raising substantial doubt about its ability to continue as a going concern.
- Issued 171,735 shares of Series D-1 Convertible Preferred Stock from 2025 Notes conversion.
- Extended automatic conversion date of Series D and D-1 Preferred Stock to December 31, 2028.