Core Viewpoint - Virax Biolabs is positioned for significant advancements in its proprietary diagnostic technology for post-acute infection syndromes (PAIS), including Long COVID, with a focus on achieving key clinical and operational milestones in 2026 [1][2] Company Developments - The company completed recruitment for its first UK clinical study (VRX-002) ahead of schedule, with initial data expected in Q2 2026 [1] - A second UK trial (VRX-003) in PAIS has been fully enrolled [1] - A clinical collaboration with Emory University has been established to support U.S. regulatory and commercial plans for Long COVID [1] - The ImmuneSelect research-use-only (RUO) portfolio is being developed to generate near-term revenue [1] Financial Position - As of September 30, 2025, the company held approximately $3.3 million in cash, with total assets of $5.7 million and no long-term debt, resulting in shareholders' equity of roughly $5.1 million [2] - The market capitalization is approximately $1.7 million, indicating that the market currently assigns limited value to the company's clinical programs and intellectual property [2] Strategic Priorities for 2026 - The primary focus is to deliver high-quality clinical data from the UK PAIS study and initiate U.S. clinical work with Emory University [2] - The company aims to expand its ImmuneSelect RUO portfolio and explore collaborations in vaccine response and oncology [2] - Continued engagement with regulatory bodies in both the UK and U.S. is planned to support the development of ViraxImmune™ [2]