GT Biopharma, Inc.

GT Biopharma, Inc. has filed its definitive proxy statement for its Annual Meeting of Stockholders on August 14, 2026. Key proposals include the election of four directors, ratification of independent accountants, and an advisory vote on executive compensation. Shareholders will also vote on a reverse stock split with a ratio between 1-for-10 and 1-for-30, a simultaneous reduction of authorized shares, and two amendments to the 2022 Omnibus Incentive Plan to increase available shares by 3,500,000 and add an evergreen provision.

GT Biopharma, Inc. received an additional 180-calendar day extension from Nasdaq until November 16, 2026, to regain compliance with the minimum $1.00 bid price requirement. The company was initially notified of non-compliance on November 20, 2025, with an initial period ending May 19, 2026. Nasdaq granted the extension as GT Biopharma meets other listing requirements. The company intends to monitor its stock price and evaluate options to maintain its Nasdaq listing.

GT Biopharma reported a net loss attributable to common stockholders of $(3.37) million for Q1 2026, a significant increase from $(0.78) million in Q1 2025. Despite the higher net loss, basic and diluted net loss per share improved to $(0.11) from $(0.33) due to a substantial increase in weighted average common shares outstanding. The company's cash and cash equivalents increased to $8.92 million, but management continues to express substantial doubt about its ability to continue as a going concern. Legal proceedings, including the Ohri Matter and Z-One, LLC appeal, are ongoing.

GT Biopharma, a clinical stage immuno-oncology company, announced that the first patient was dosed in a Phase 1 dose escalation basket trial evaluating GTB-5550. This B7-H3-targeted natural killer (NK) cell engager is the third TriKE to enter clinical development, marking an expansion into broader solid tumor opportunities. The trial will initially focus on prostate cancer patients during dose escalation and will later expand to evaluate up to seven additional tumor types. GTB-5550 is also the first nanobody TriKE to be tested with patient-friendly subcutaneous dosing, with updates expected in the second half of 2026.

GT Biopharma, Inc. filed an S-1 registration statement for the resale of up to 9,723,057 shares of common stock by selling stockholders, from which the company will not receive proceeds. The company received $9.4 million from the exercise of Greenshoe Rights in May 2025. GTBP faces a Nasdaq delisting risk due to its stock price falling below $1 and has substantial doubt about its ability to continue as a going concern without additional financing.

GT Biopharma has entered into an Investigator Initiated Clinical Trial Agreement with the University of Minnesota to conduct a Phase 1a/1b clinical trial of GTB-5550, a TriKE® (Tri-Specific Killer Engager) therapy targeting B7-H3 in advanced solid tumors. The agreement outlines the terms for the study, including GT Biopharma's support through funding and the Study Drug, and the University's responsibilities as the IND sponsor and investigator.