Financial Performance - Research and development expenses for Q3 2025 were $158,699, compared to $153,282 in Q3 2024, reflecting a slight increase [5]. - General and administrative expenses for Q3 2025 were $1.75 million, an increase of $1.2 million from $0.52 million in Q3 2024, primarily due to legal and advisory services related to the direct listing [5]. - The company reported a net loss of $1.90 million for Q3 2025, compared to a net loss of $666,442 in Q3 2024 [6]. - Total operating expenses for Q3 2025 were $1.91 million, compared to $672,992 in Q3 2024, indicating a significant increase [6]. - As of September 30, 2025, Turn Therapeutics had $3.11 million in cash and cash equivalents, up from $872,599 at the end of 2024 [7]. Corporate Developments - Turn Therapeutics began trading on NASDAQ under the ticker TTRX on October 8, 2025, allowing the company to secure funding from public markets [1]. - The company entered into a global supply, development, and license agreement with Medline, the largest provider of medical-surgical products, to leverage its PermaFusion® platform technology [3]. - The company appointed two new members to its Board of Directors, enhancing its leadership team with extensive experience in regulatory and clinical development [5]. Clinical Advancements - The clinical trial for the first topical IL-36/IL-31 inhibitor for eczema has commenced, building on thousands of prior uses of the formula [5]. - Turn Therapeutics is advancing late-stage clinical programs in eczema and onychomycosis, reflecting its commitment to developing best-in-class products [2].

Financial Performance - Lucid Diagnostics recognized $1.2 million in EsoGuard Esophageal DNA Test revenue for Q3 2025, processing 2,841 EsoGuard tests[5] - PAVmed's operating expenses for Q3 2025 were approximately $4.8 million, including stock-based compensation expenses of $0.4 million[9] - The GAAP net loss attributable to common stockholders for Q3 2025 was approximately $6.3 million, or $(0.29) per common share on a diluted basis[9] - Non-GAAP adjusted loss for Q3 2025 was approximately $0.4 million, or $(0.02) per common share[9] Cash and Funding - PAVmed had cash and cash equivalents of $3.1 million as of September 30, 2025, compared to $1.2 million as of December 31, 2024[9] - PAVmed strengthened its balance sheet with a public offering of common stock, netting approximately $27.0 million in proceeds[5] - The ability to secure additional funding as needed is essential for ongoing operations and product development[17] Strategic Partnerships and Innovations - Veris Health launched the commercial phase of its strategic partnership with The Ohio State University James Cancer Hospital, advancing the deployment of the Veris Cancer Care Platform[5] - The company signed a letter of intent with Duke University to license groundbreaking endoscopic esophageal imaging technology, adding a potential growth engine to its innovation pipeline[4] - Veris Health is preparing for a planned 2026 FDA 510(k) submission for its implantable physiological monitor[5] Market Potential and Challenges - Medicare Contractor Advisory Committee unanimously supported Medicare coverage for EsoGuard, indicating strong market potential[5] - PAVmed and Lucid's management acknowledges risks and uncertainties that could impact future results, including stock price volatility and market conditions[17] - The companies face challenges in research and development, particularly regarding the costs and timelines for regulatory submissions[17] - Regulatory authorities' satisfaction with clinical and preclinical study designs and results is crucial for product clearance[17] - Market acceptance of PAVmed and Lucid's products post-clearance is a significant factor for future success[17] - New risks and uncertainties may emerge, complicating future predictions[17]

Financial Performance - Fourth quarter revenue was $552.2 million, a decrease from $563.1 million in the prior-year period[7] - Full year revenue totaled $2.3 billion, compared to $2.4 billion in the previous year, with same-store sales decreasing by 2.1%[4] - Revenue for the three months ended September 30, 2025, was $552,153, down from $563,122 in 2024, representing a decrease of about 1.7%[24] - The company reported a net loss of $0.9 million, or $0.04 per share, compared to a net income of $4.0 million, or $0.17 per diluted share, in the prior-year period[11] - Net loss attributable to MarineMax, Inc. for the three months ended September 30, 2025, was $(854), compared to a net income of $3,999 in 2024[26] Profitability Metrics - Gross profit margin improved to 34.7%, up from 34.3% year-over-year, despite lower boat margins due to a challenging retail environment[8] - Adjusted EBITDA for the fourth quarter was $17.3 million, down from $33.5 million in the prior-year period[11] - Adjusted EBITDA for the year ended September 30, 2025, was $109,798, down from $160,176 in 2024, a decrease of approximately 31.4%[29] - Fiscal 2026 guidance projects adjusted EBITDA in the range of $110 million to $125 million, with adjusted net income between $0.40 and $0.95 per diluted share[12] Operational Highlights - Same-store sales increased by 2.3%, driven by growth in used boat revenue and contributions from finance, insurance, parts, and services[7] - Retail Operations income from operations decreased to $14,235 for the three months ended September 30, 2025, from $28,659 in 2024, a decline of about 50.3%[24] - The Fort Lauderdale Boat Show set a post-COVID record for unit sales, indicating strong consumer engagement despite economic uncertainty[6] Expenses and Liabilities - Selling, general, and administrative expenses increased to $177.6 million, or 32.2% of revenue, compared to 29.5% in the prior-year period[9] - Total current liabilities decreased from $1,069,143 in 2024 to $984,880 in 2025, a reduction of approximately 7.9%[22] - Interest expense (excluding floor plan) for the year ended September 30, 2025, was $30,195, slightly up from $30,131 in 2024[29] Asset and Equity Changes - Total assets decreased from $2,605,068 in 2024 to $2,470,438 in 2025, a decline of approximately 5.2%[22] - Total shareholders' equity attributable to MarineMax, Inc. decreased from $975,795 in 2024 to $937,190 in 2025, a decline of about 3.9%[22] Strategic Focus - The company is focusing on strategic expansion into higher-margin businesses and refining its product portfolio to align with customer demand[5] - The company expects significant variability in future Adjusted net income and Adjusted EBITDA due to acquisition-related costs and performance[31] Impairment Charges - Goodwill impairment charge of $69.1 million was recorded during the fiscal year ended September 30, 2025[24]

Financial Performance - The company reported a net loss of $6.5 million for Q3 2025, compared to a net loss of $6.0 million in Q3 2024, reflecting an increase in operating expenses[13] - Vivani's accumulated deficit increased to $141.9 million as of September 30, 2025, compared to $121.9 million at the end of 2024[19] - The net loss for Q3 2025 was $6,530 million, compared to a net loss of $6,041 million in Q3 2024, indicating an 8.1% increase in losses[21] - The net loss per common share for Q3 2025 remained at $0.11, consistent with Q3 2024[21] - The net loss for the nine months ended September 30, 2025, was $19,976 million, up from $17,436 million in the prior year, reflecting a 14.0% increase[21] - The company reported a total net loss of $19,976 million for the nine months ended September 30, 2025, compared to $17,436 million for the same period in 2024, indicating a worsening financial position[21] Cash and Assets - As of September 30, 2025, Vivani had cash and cash equivalents totaling $2.6 million, a decrease of $15.7 million from $18.4 million as of December 31, 2024[9] - Vivani's total assets decreased to $25.0 million as of September 30, 2025, down from $41.6 million as of December 31, 2024[19] Operating Expenses - Research and development expenses for Q3 2025 were $4.5 million, up from $4.2 million in Q3 2024, indicating increased investment in R&D[10] - General and administrative expenses for Q3 2025 were $2,206 million, compared to $2,106 million in Q3 2024, reflecting a 4.8% increase[21] - Total operating expenses for Q3 2025 reached $6,725 million, an increase of 6.6% from $6,309 million in Q3 2024[21] - For the nine months ended September 30, 2025, total operating expenses were $20,746 million, compared to $18,217 million for the same period in 2024, a 13.9% increase[21] Funding and Development - The company completed a private placement generating approximately $25.7 million in cash and commitments to support the accelerated development of NPM-139[1] - Gross proceeds from a recent offering of 6,000,000 shares were approximately $15.7 million, before fees and expenses[3] - Vivani Medical plans to initiate a Phase 1 clinical study of the semaglutide implant for chronic weight management in the first half of 2026, pending regulatory feedback[1] - The company is developing a portfolio of GLP-1 based implants aimed at improving medication adherence and tolerability for obesity and type 2 diabetes[14] Other Income and Spin-off - Other income for Q3 2025 was $195 million, down from $268 million in Q3 2024, a decrease of 27.2%[21] - The company anticipates completing the spin-off of its subsidiary Cortigent shortly after the SEC resumes operations[8]

Clinical Trials and Efficacy - IMNN-001, a DNA-based immunotherapy for advanced ovarian cancer, has shown a median progression-free survival (PFS) of 21 months in treated patients, compared to an average of 12 months under current standard care[102]. - The OVATION 2 Study has enrolled 113 patients, with interim data indicating a 9-month improvement in overall survival (OS) for the treatment arm compared to the control arm[107]. - Patients receiving IMNN-001 in combination with PARP inhibitors showed a median PFS of 23.7 months, compared to 15.7 months for those receiving only neoadjuvant chemotherapy (NACT)[110]. - The overall response rate for second-line therapies in platinum-resistant ovarian cancer is only 10% to 20%, highlighting the need for more effective treatments[95]. - The updated results from the Phase 2 OVATION 2 Study showed a median overall survival (OS) increase from 11.1 to 13 months with IMNN-001 treatment compared to standard-of-care (SoC) alone, resulting in a hazard ratio (HR) of 0.70[113]. - Among trial participants, 62% of those in the IMNN-001 treatment arm survived more than 36 months, while over 10% reached 48 months or beyond[113]. - The IMNN-001 treatment arm demonstrated a median 3-month increase in progression-free survival (PFS) compared to SoC, with all patients treated with IMNN-001 remaining progression-free during the treatment period[115]. - The hazard ratio for the IMNN-001 treatment arm was 0.64 among patients who received at least 20% of specified treatments, indicating a 56% improvement in survival[115]. - The Phase 3 OVATION 3 trial will assess the safety and efficacy of IMNN-001 plus neoadjuvant and adjuvant chemotherapy in women with newly diagnosed advanced ovarian cancer, with a primary endpoint of overall survival[118]. - The FDA has aligned with the protocol for the Phase 3 OVATION 3 pivotal trial, which is currently enrolling patients at four trial sites[120]. - The Company is collaborating with Break Through Cancer to evaluate IMNN-001 in combination with bevacizumab in patients with advanced ovarian cancer[122]. Financial Performance and Concerns - As of September 30, 2025, the Company had $5.3 million in cash and cash equivalents, primarily from the issuance of common stock[151]. - The Company has not generated revenue from product sales and does not expect to do so in the next several years, raising concerns about its ability to continue as a going concern[149][152]. - The Company reported a net loss of $3.4 million for the three months ended September 30, 2025, compared to a net loss of $4.8 million for the same period in 2024, representing a 29.9% improvement[162]. - Research and development expenses decreased to $1.9 million in Q3 2025 from $3.3 million in Q3 2024, a reduction of 42.3%[166]. - Total operating expenses for the nine months ended September 30, 2025, were $10.4 million, down 30.7% from $15.0 million in the same period of 2024[171]. - The Company had cash and cash equivalents of $5.3 million as of September 30, 2025, raising substantial doubts about its ability to continue as a going concern[163]. - The accumulated deficit reached $419 million as of September 30, 2025, indicating significant ongoing financial challenges[174]. - The Company plans to seek partnerships and collaborations to advance the development of its drug candidates and may consider strategic alternatives, including acquisitions[150][153]. - The Company plans to raise additional funds through the issuance and sale of common stock via its ATM program and other funding transactions[164]. - The Company plans to seek additional capital through public or private equity offerings, debt financing, and strategic alliances, which may dilute existing stockholders' ownership[177]. - If adequate funds are not available, the Company may need to delay or reduce the scope of its research, development, and commercialization efforts[178]. - Management's plan includes raising funds through the issuance and sale of common stock via its ATM program, but there is no assurance that such funding will be available on favorable terms[179]. - The Company's financial statements do not include adjustments related to the recoverability and classification of assets or liabilities if it cannot continue as a going concern[179]. - There are no off-balance sheet arrangements or contractual obligations reported[180]. - The Company is classified as a smaller reporting company and is not required to provide certain market risk disclosures[181]. Research and Development Initiatives - The delivery system for IMNN-001 is designed to enhance gene transfer activity while minimizing toxicity, positioning the company favorably in the gene delivery market[93]. - The OVATION 1 Study demonstrated a significant increase in CD8+ T-cells in approximately 75% of patients, suggesting a shift towards a more pro-immune tumor microenvironment[101]. - The company aims to leverage its non-viral DNA technology to develop innovative treatments for various human diseases, differentiating itself from conventional therapies[91]. - The Company has developed the PLACCINE DNA vaccine platform, which targets multiple antigens on a single plasmid vector, potentially offering broad-spectrum protection against viral mutations[134]. - In preclinical studies, the PLACCINE vaccine demonstrated the ability to produce antibodies and cytotoxic T-cell responses specific to the SARS-CoV-2 spike antigen, indicating potential protection against the virus[135]. - The dual antigen vaccine in mouse studies inhibited viral load by 90-95% against both the D614G and Delta variants, showcasing a favorable safety profile[139]. - The Company initiated a Phase I clinical trial for the IMNN-101 seasonal COVID-19 booster vaccine, targeting the Omicron XBB1.5 variant, with 24 subjects enrolled to evaluate safety and immunogenicity[142]. - IMNN-101 induced a persistent 2- to 4-fold increase in serum neutralizing antibody titers from baseline through Week 4, demonstrating strong immunogenicity[143]. - Six months post-vaccination, IMNN-101 showed up to a 3-fold median increase in serum neutralizing antibody titers, with the highest observed increase being 8-fold from baseline[144]. Shareholder and Stock Activity - The Company issued 0.4 million shares of common stock during 2025 and 2024, resulting in approximately $19.0 million in net proceeds[155]. - The Company sold 551,265 shares of common stock under the ATM Agreement for net proceeds of $3.6 million through September 2025[156]. - The Company raised approximately $3.3 million from a private placement of 185,186 shares of common stock and warrants in May 2025[157]. - Clinical costs associated with the OVATION 2 and MRD trials decreased by 70.3% to $0.1 million in Q3 2025 compared to $0.4 million in Q3 2024[165]. - The OVATION Program's R&D costs increased by 263.8% to $0.7 million in Q3 2025, reflecting a strategic focus on this area[166].

Financial Performance - Net income for fiscal 2025 was $106.6 million, or $1.64 per Common Unit, compared to $74.2 million, or $1.15 per Common Unit, in fiscal 2024, representing a 43.5% increase in net income year-over-year [3] - Adjusted EBITDA increased by $28.0 million, or 11.2%, to $278.0 million for fiscal 2025, compared to $250.0 million in the prior year [3] - The fourth quarter net loss was $35.1 million, or $0.53 per Common Unit, an improvement from a net loss of $44.6 million, or $0.69 per Common Unit, in fiscal 2024 [12] - Net loss for the three months ended September 27, 2025, was $(35,136,000), an improvement from $(44,589,000) in the same quarter of 2024, while net income for the twelve months was $106,570,000, compared to $74,174,000 in the previous year [21] - Adjusted EBITDA for the three months ended September 27, 2025, was $664,000, slightly down from $754,000 in the same period of 2024, while for the twelve months, it increased to $278,028,000 from $250,043,000 [23] Revenue and Sales - Revenues for the three months ended September 27, 2025, were $211,376,000, a slight increase from $208,641,000 for the same period in 2024, while total revenues for the twelve months increased to $1,432,518,000 from $1,327,172,000 [21] - Propane revenue for the three months ended September 27, 2025, was $183,065,000, compared to $179,067,000 in the prior year, with a twelve-month total of $1,265,494,000, up from $1,150,034,000 [21] - Retail propane gallons sold totaled 400.5 million gallons in fiscal 2025, a 5.9% increase compared to the prior year [5] - Retail gallons of propane sold in the three months ended September 27, 2025, were 60,817,000, compared to 59,733,000 in the same period of 2024, with total gallons sold for the twelve months at 400,496,000, up from 378,258,000 [21] Expenses and Costs - Combined operating and general administrative expenses rose to $590.5 million, an increase of $23.7 million, or 4.2%, primarily due to higher payroll and benefit-related expenses [7] - Interest expense for the three months ended September 27, 2025, was $17,205,000, down from $18,050,000 in the same period of 2024, with total interest expense for the twelve months at $76,265,000, compared to $74,590,000 [21] - Capital expenditures for maintenance in the three months ended September 27, 2025, were $6,081,000, up from $4,891,000 in the same period of 2024, while growth capital expenditures decreased to $8,047,000 from $14,165,000 [21] Market Activity and Initiatives - The Partnership acquired a propane business for approximately $53.0 million and two additional businesses for $24.0 million, enhancing its market presence [4] - The Partnership launched an ATM equity program to sell up to $100.0 million of newly issued Common Units, raising $23.5 million in net proceeds [11] - A multi-year technology modernization initiative was initiated to improve operational efficiency and customer service [5] Financial Ratios - The Consolidated Leverage Ratio improved to 4.29x for the fiscal year ended September 27, 2025, compared to 4.76x for the prior year [9] - Operating loss for the three months ended September 27, 2025, was $(16,755,000), an improvement from $(22,548,000) in the same quarter of 2024, while operating income for the twelve months was $206,311,000, compared to $171,250,000 in the previous year [21] Pricing and Margins - Average propane prices increased by 5.8% compared to the prior year, contributing to total gross margins of $868.8 million, which increased by $63.8 million, or 7.9% [6] - The company reported a gross margin as a supplemental measure of operating performance, calculated as revenues less cost of products sold, which is considered a non-GAAP financial measure [23]

Financial Performance - Century Therapeutics reported a net loss of $34.4 million for Q3 2025, compared to a net loss of $31.2 million in Q3 2024, reflecting a year-over-year increase in losses of approximately 7.3%[7] - Research and Development (R&D) expenses decreased to $22.5 million in Q3 2025 from $27.2 million in Q3 2024, a reduction of about 17.3%[6] - General and Administrative (G&A) expenses were $6.8 million for Q3 2025, down from $8.4 million in Q3 2024, representing a decrease of approximately 19%[6] - Total assets decreased to $244.7 million as of September 30, 2025, from $353.2 million as of December 31, 2024, a decline of approximately 30.7%[12] Cash Position - Cash, cash equivalents, and marketable securities totaled $132.7 million as of September 30, 2025, down from $220.1 million as of December 31, 2024, indicating a decrease of about 39.7%[6] - The company estimates its cash runway will support operations into the fourth quarter of 2027[4] Clinical Development - The company anticipates initiating IND-enabling studies for its lead beta islet program, CNTY-813, by the end of 2025, with an IND submission planned for as early as 2026[4] - CNTY-308 is progressing through IND-enabling studies, with clinical study initiation expected in 2026[4] - Century Therapeutics has generated compelling preclinical data for its iPSC-derived beta islet program, indicating potential for rapid and sustained glucose control without chronic immune suppression[3] - Initial clinical data from the CNTY-101 trial in CARAMEL is expected to be presented on December 5, 2025[6]

Financial Performance - Clene Inc. has not generated any revenue from drug sales and has incurred operating losses since inception, with revenue from dietary supplements being minimal compared to operating expenses [142]. - Total revenue for the three months ended September 30, 2025, was $15,000, a decrease of 83% from $87,000 in 2024 [165]. - General and administrative expenses for the three months ended September 30, 2025, were $2,150,000, a decrease of 37% from $3,413,000 in 2024 [162]. - Net loss for the three months ended September 30, 2025, was $8,777,000, an increase of 10% from $7,986,000 in 2024 [165]. - Total operating expenses for the three months ended September 30, 2025, were $5,663,000, a decrease of 28% from $7,902,000 in 2024 [165]. - The company recorded a total other income (expense), net of $(3,129,000) for the three months ended September 30, 2025, an increase of 1,730% from $(171,000) in 2024 [165]. - The company incurred a loss from operations of $5.6 million for the three months ended September 30, 2025, down from $7.8 million in 2024 [180]. - The company recorded an accumulated deficit of $299.1 million as of September 30, 2025, up from $282.1 million as of December 31, 2024 [180]. - The net loss for the nine months ended September 30, 2025, was $16.9 million, adjusted for non-cash items totaling $7.4 million, while the net loss for the same period in 2024 was $25.9 million, adjusted for non-cash items totaling $7.8 million [189][190]. Research and Development - The company is focused on developing CNM-Au8 for treating neurodegenerative diseases, with a potential NDA submission for ALS planned for Q1 2026 under an accelerated approval pathway [146]. - In the REPAIR-MS trial, CNM-Au8 demonstrated a significant increase in the NAD+/NADH ratio by +0.449 units (8.65% change) after 12 weeks of treatment [153]. - The FDA has provided guidance on using neurofilament light (NfL) as a potential surrogate endpoint for ALS treatment efficacy, with plans to analyze NfL changes in ongoing studies [147]. - Clene Inc. plans to commence a confirmatory Phase 3 trial, RESTORE-ALS, in the first half of 2026, contingent on funding, to investigate CNM-Au8's effects on survival [147]. - The company reported significant associations between baseline cognitive measures and brain ATP levels, indicating a link between energy metabolism and cognitive function in MS patients [153]. - CNM-Au8 improved mitochondrial health in familial Parkinson's disease neurons, increasing membrane potential and reducing harmful reactive oxygen species [154]. - Research and development expenses for the three months ended September 30, 2025, were $3,513,000, a decrease of 21% from $4,471,000 in 2024 [169]. - Research and development expenses related to amyotrophic lateral sclerosis (ALS) increased by 156% to $1,775,000 in the three months ended September 30, 2025 [169]. - The company anticipates an increase in research and development expenses as it advances assets into Phase 3 clinical trials [159]. Cash Flow and Financing - Cash and cash equivalents totaled $7.9 million as of September 30, 2025, a decrease from $12.2 million as of December 31, 2024 [180]. - Net cash used in operating activities was $(13,747,000) for the nine months ended September 30, 2025, compared to $(16,461,000) in 2024 [188]. - The company plans to raise additional funding through equity financing, debt financing, and other capital sources to meet short-term liquidity requirements [182]. - The company generated $3.3 million in gross proceeds from its equity distribution agreement during the three months ended September 30, 2025 [182]. - Net cash used in operating activities was $13.7 million for the nine months ended September 30, 2025, compared to $16.5 million for the same period in 2024, reflecting a decrease in cash outflow [189][190]. - Net cash provided by financing activities was $9.5 million for the nine months ended September 30, 2025, compared to a net cash outflow of $4.1 million for the same period in 2024 [193]. - In October 2024, the company raised approximately $3.5 million from the sale of 725,000 shares of Common Stock and pre-funded warrants [194]. - The company sold 757,875 shares of Common Stock during the three months ended September 30, 2025, generating gross proceeds of $3.3 million [195]. Stock and Derivative Liabilities - Clene Inc. completed a reverse stock split of 1-for-20 effective July 11, 2024, adjusting all outstanding stock options and warrants accordingly [144]. - The carrying value of the 2022 DHCD Loan as of September 30, 2025, was $5.3 million, unchanged from December 31, 2024 [199]. - The change in fair value of the SSCPN Derivative Liabilities resulted in a loss of $0.8 million for the three months ended September 30, 2025 [200]. - The fair value change of the 2023 Avenue Warrant resulted in a loss of $0.1 million for Q3 2025 and a gain of $0.1 million for Q3 2024 [203]. - The fair value change of the Tranche A Warrants resulted in a loss of $0.1 million for Q3 2025 and a gain of $0.6 million for Q3 2024 [203]. - The fair value change of the 2024 Common Warrants resulted in a loss of $1.5 million for Q3 2025 and a loss of $0.2 million for the nine months ended September 30, 2025 [203]. - The expected stock price volatility was 100.70% as of September 30, 2025, with a discount rate of 15.00% [200]. - The expected stock price volatility for the 2023 Avenue Warrant was 96.10% – 110.10% as of September 30, 2025 [203]. - The risk-free interest rate for the Tranche A Warrants was 3.80% – 4.10% as of September 30, 2025 [203]. - The expected term for the 2024 Common Warrants was 4.00 years as of September 30, 2025 [203]. - The probability of change of control for the 2023 Avenue Warrant increased from 10.00% in December 2024 to 20.00% in September 2025 [203]. Tax and Regulatory Matters - The company has not recorded income tax benefits for net operating losses or research and development tax credits due to uncertainty in realizing benefits [204]. - Research and development tax credits decreased to $216,000 for the nine months ended September 30, 2025, down from $339,000 in 2024 [172]. - Significant non-cash items for 2025 included stock-based compensation expense of $5.0 million and depreciation expense of $1.1 million, while for 2024, stock-based compensation was $6.2 million and depreciation was $1.2 million [189][190]. - The expected stock price volatility for stock options was 96.77% – 110.25% for the nine months ended September 30, 2025 [206]. - The expected term of options was between 5.00 and 6.25 years for the nine months ended September 30, 2025 [206].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended September 30, 2025. or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. Commission file number: 001-35376 OBLONG, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 77-0312442 (State or Other Jurisdiction of Incorporation or Organ ...

Financial Performance - Net loss for Q3 2025 was $3.4 million, or $1.16 per share, compared to a net loss of $4.8 million, or $3.76 per share, in Q3 2024, representing a 29.2% improvement in loss per share[16] - For the nine months ended September 30, 2025, the net loss was $10.3 million, or $5.53 per share, compared to a net loss of $14.6 million, or $14.13 per share, for the same period in 2024, indicating a 60.9% improvement in loss per share[20] - The net loss for the three months ended September 30, 2025, was $3.429 million, compared to a net loss of $4.845 million for the same period in 2024, representing a 29% improvement[32] - The company reported a basic and diluted net loss per common share of $1.16 for the three months ended September 30, 2025, compared to $3.76 for the same period in 2024[32] Operating Expenses - Operating expenses decreased by 30% to $3.5 million in Q3 2025 from $5.0 million in Q3 2024[16] - Total operating expenses for the nine months ended September 30, 2025, were $10.4 million, a decrease of 31% from $15.0 million in the same period of 2024[20] - For the three months ended September 30, 2025, total operating expenses were $3.476 million, a decrease of 30% compared to $4.961 million for the same period in 2024[32] Research and Development - R&D expenses for Q3 2025 were $1.9 million, down from $3.3 million in Q3 2024, primarily due to lower costs associated with the OVATION 2 Study and the Phase 1 PlaCCine DNA vaccine trial[17] - R&D expenses for the first nine months of 2025 were $5.3 million, down from $9.4 million in the same period of 2024, with significant reductions in clinical costs associated with the OVATION 2 and MRD trials[22] - The Phase 2 OVATION 2 study demonstrated a median overall survival benefit of 13 months with IMNN-001 plus standard of care chemotherapy compared to standard of care alone[5] - IMUNON has completed dosing in a first-in-human study of its COVID-19 booster vaccine (IMNN-101)[28] - The company is focused on leveraging its non-viral DNA technology to develop innovative treatments for difficult-to-treat conditions[27] Cash and Assets - Cash and cash equivalents as of September 30, 2025, were $5.3 million, with $4.5 million in net proceeds received during Q3 from warrant exercises and sales under the ATM facility[19] - As of September 30, 2025, total current assets were $7.258 million, down from $8.009 million as of December 31, 2024[34] - Total assets decreased to $8.988 million as of September 30, 2025, from $9.717 million as of December 31, 2024[34] - The company’s additional paid-in capital increased to $421.213 million as of September 30, 2025, from $411.122 million as of December 31, 2024[34] Liabilities - Current liabilities were $4.198 million as of September 30, 2025, compared to $4.786 million as of December 31, 2024, indicating a reduction of 12%[34] Strategic Partnerships and Future Outlook - IMUNON is actively seeking strategic partnerships to leverage the PlaCCine platform's advantages, including enhanced durability and temperature stability, to address unmet needs in vaccines[15] - The company believes it has sufficient capital resources to fund its planned operations into Q1 2026[19] - The company is advancing its lead clinical program, IMNN-001, for the treatment of advanced ovarian cancer, with the first patient dosed in the Phase 3 clinical trial (OVATION 3) in Q3 2025[28]