Quarterly ResultMay 13, 2026, 04:52 PM
ZyVersa Q1 Net Loss $(1.79)M; Going Concern Doubt Raised
AI Summary
ZyVersa Therapeutics reported a net loss of $(1.79) million for the three months ended March 31, 2026, an improvement from $(2.26) million in the prior year. Despite this, the company's cash position of $0.3 million and a working capital deficit of $14.1 million, coupled with an accumulated deficit of $139.4 million, raise substantial doubt about its ability to continue as a going concern. The company issued $1.0 million in convertible notes and warrants during the quarter to secure additional financing.
Key Highlights
- Q1 2026 net loss was $(1.79) million, an improvement from $(2.26) million in Q1 2025.
- Cash balance was $302,660 and working capital deficit was $14.1 million as of March 31, 2026.
- Accumulated deficit reached $139.4 million, raising substantial doubt about going concern.
- Issued $1.0 million in convertible notes and warrants in February 2026.
- Research and development expenses decreased to $57,621 in Q1 2026 from $258,876 in Q1 2025.
- Net cash used in operations improved to $(799,118) in Q1 2026 from $(1,772,052) in Q1 2025.