Q2 2026 Earnings

Reported August 10, 2026NEW

Quarter Comparison

Revenue

Operating Income

Income Statement

Cash Flow Statement

Balance Sheet

Operating metrics disclosed this quarter

Read from the filing itself — XBRL does not carry these, so no standard financial dataset has them.

Clinical Trial Expense
$2.1M
For the Three Months Ended June 30, 2026 2025 Change Clinical trial expense $ 2,117,979 $ 531,744 $ 1,586,235 Research and laboratory 531,694 145,588 386,106 Total research and development expense $ 2,649,673 $ 677,332 $ 1,972,341
NEO100-01 R&D Expense
$998,369
The following table summarizes the components of our research and development expenses for the periods presented: For the Three Months Ended June 30, 2026 2025 Research and development costs by project: NEO100-01 $ 998,369 $ 109,166 NEO100-02 304,244 93,326 NEO212 592,757 279,074 NEO216 75,336 - Pediatric 147,273 50,178 Laboratory 460,655 107,465 Other 71,039 38,123 Total $ 2,649,673 $ 677,332
NEO100-02 R&D Expense
$304,244
The following table summarizes the components of our research and development expenses for the periods presented: For the Three Months Ended June 30, 2026 2025 Research and development costs by project: NEO100-01 $ 998,369 $ 109,166 NEO100-02 304,244 93,326 NEO212 592,757 279,074 NEO216 75,336 - Pediatric 147,273 50,178 Laboratory 460,655 107,465 Other 71,039 38,123 Total $ 2,649,673 $ 677,332
NEO212 R&D Expense
$592,757
The following table summarizes the components of our research and development expenses for the periods presented: For the Three Months Ended June 30, 2026 2025 Research and development costs by project: NEO100-01 $ 998,369 $ 109,166 NEO100-02 304,244 93,326 NEO212 592,757 279,074 NEO216 75,336 - Pediatric 147,273 50,178 Laboratory 460,655 107,465 Other 71,039 38,123 Total $ 2,649,673 $ 677,332
NEO216 R&D Expense
$75,336

Pediatric Program R&D Expense

$147,273

The following table summarizes the components of our research and development expenses for the periods presented: For the Three Months Ended June 30, 2026 2025 Research and development costs by project: NEO100-01 $ 998,369 $ 109,166 NEO100-02 304,244 93,326 NEO212 592,757 279,074 NEO216 75,336 - Pediatric 147,273 50,178 Laboratory 460,655 107,465 Other 71,039 38,123 Total $ 2,649,673 $ 677,332

NEO100 Compassionate-Use Fees Received

$20,000

The Company has received limited fees in connection with compassionate use of its lead investigational drug candidate, NEO100, made available on a right-to-try basis. The Company concluded that such fees are incidental to, and directly related to, recovering costs associated with the Company’s research and development activities, rather than representing revenue generated from the Company’s ongoing central operations. Accordingly, such fees are presented as a reduction of research and development expense in the period received, rather than as revenue. The Company did not recognize any revenue during the three and six months ended June 30, 2026. During the three and six months ended June 30, 2026, the Company received $20,000, respectively, related to compassionate use of NEO100, which was recorded as a reduction of research and development expense. During the three and six months ended June 30, 2025, the Company received $0 and $39,990, respectively, related to compassionate use of NEO100, which has been reclassified from revenue to a reduction of research and development expense to conform to the current period presentation. This reclassification had no effect on net loss, total stockholders’ deficit, or cash flows for the six months ended June 30, 2025.

Laboratory Project R&D Expense

$460,655

Active NIH STTR Grants

The Company is a party to two Small Business Technology Transfer grants from the National Institutes of Health, awarded in August 2025 and September 2025, respectively, pursuant to which USC serves as the Company’s academic research subcontractor. As of June 30, 2026, the Company had a corresponding subcontract payable to USC of $435,655 included within accounts payable – related parties in the condensed consolidated balance sheets. (See Note 11)