Workflow
Genelux Corporation Reports Second Quarter 2025 Financial Results and Provides General Business Updates
Genelux Genelux (US:GNLX) Globenewswireยท2025-08-07 20:20

Core Insights - Genelux Corporation is advancing its late clinical-stage immuno-oncology product, Olvi-Vec, with significant clinical readouts expected in the coming year, particularly for platinum-resistant/refractory ovarian cancer [1][2][4] Pipeline Highlights - The Phase 3 OnPrime/GOG-3076 trial for Olvi-Vec in platinum-resistant/refractory ovarian cancer is on track, with topline data anticipated in the first half of 2026 [5] - Ongoing trials for small cell lung cancer (SCLC) and non-small cell lung cancer (NSCLC) are expected to provide important data updates later this year, which may support the systemic delivery program of Olvi-Vec [2][5] Business Updates - The company appointed Eric Groen as General Counsel and Chief Compliance Officer, enhancing its leadership team with over 20 years of experience in the life sciences industry [3][6] - The CEO emphasized the potential of Olvi-Vec to redefine treatment paradigms for recurrent tumors and the company's growth phase [4] Financial Results - For Q2 2025, Genelux reported a net loss of $7.5 million, or $0.20 per share, compared to a net loss of $6.6 million, or $0.22 per share, in Q2 2024 [11][19] - Research and development expenses increased to $4.8 million from $4.4 million year-over-year, primarily due to higher clinical trial costs [10] - General and administrative expenses rose to $3.0 million from $2.5 million, driven by increased salaries and professional services [11] Cash Position - As of June 30, 2025, the company had cash, cash equivalents, and short-term investments totaling $28.1 million, expected to fund operations into Q3 2026 [9]