Quarterly ResultMay 13, 2026, 04:14 PM
SKINVISIBLE Reports Q1 Net Loss $(267K); Going Concern Doubt Raised
AI Summary
SKINVISIBLE, INC. reported a net loss of $(267,184) for Q1 2026, a slight improvement from $(281,005) in Q1 2025, with revenues remaining flat at $5,000. The company's financial statements include a going concern warning due to cumulative net losses of $41.28 million and the need for additional funding. Despite the financial challenges, its licensee Quoin Pharmaceuticals continues to make progress in clinical trials for QRX003, an Invisicare-powered product for Netherton Syndrome, including FDA clearance for teen subjects and international expansion.
Key Highlights
- Going concern doubt raised due to cumulative net losses of $41.28 million.
- Q1 2026 net loss was $(267,184), an improvement from $(281,005) in Q1 2025.
- Revenues remained flat at $5,000 for Q1 2026 and Q1 2025.
- Total assets decreased to $119,419 as of March 31, 2026, from $127,567 at year-end 2025.
- Total liabilities increased to $10,649,384 as of March 31, 2026, from $10,390,348.
- Cash balance stood at $1,798 as of March 31, 2026.
- Licensee Quoin received FDA clearance to recruit teen subjects for Netherton Syndrome clinical trials.