Quarterly ResultMay 12, 2026, 06:37 AM
Unicycive Therapeutics Q1 Net Loss $(12.8)M; Cash $37.4M
AI Summary
Unicycive Therapeutics reported a net loss of $(12.8) million for the three months ended March 31, 2026, a significant decline from a net income of $0.6 million in the prior year period. The company's cash and cash equivalents increased to $37.4 million, primarily driven by $19.6 million in net proceeds from a secondary public offering. Operating expenses increased, and the change in fair value of warrant liability negatively impacted results.
Key Highlights
- Net loss for Q1 2026 was $(12.8) million, compared to net income of $0.6 million in Q1 2025.
- Basic loss per share was $(0.54) in Q1 2026, down from basic income per share of $0.04 in Q1 2025.
- Cash and cash equivalents increased to $37.4 million as of March 31, 2026, from $29.2 million at December 31, 2025.
- Net cash provided by financing activities was $19.6 million in Q1 2026, primarily from a secondary public offering.
- Total operating expenses rose to $8.4 million in Q1 2026 from $8.0 million in Q1 2025.
- Accumulated deficit reached $140.6 million as of March 31, 2026.
- Warrant liability increased to $21.7 million as of March 31, 2026, from $16.9 million at December 31, 2025.