Abpro Holdings, Inc. reported its financial results for the third quarter of 2025, revealing a significant decline in revenue and an increase in net losses compared to the same period in the previous year. The company generated no revenue from research and development services during the quarter, a decrease from $183,000 in the third quarter of 2024. For the nine months ended September 30, 2025, total revenue also fell to zero from $183,000 in the prior year. The net loss for the quarter was $1.7 million, a 21% improvement from a loss of $2.1 million in the same quarter of 2024. However, the nine-month net loss increased to $8.5 million from $3.9 million year-over-year.
Operating expenses for the third quarter decreased to $1.3 million from $2.1 million in the prior year, primarily due to reduced research and development costs, which fell to $243,000 from $642,000. General and administrative expenses also decreased to $1.1 million from $1.5 million, attributed to a reduction in payroll and related expenses following a decrease in employee headcount. The company noted that the majority of its personnel had been on furlough since October 2024, contributing to the overall reduction in expenses.
Abpro Holdings has been navigating significant operational changes, including a merger with Atlantic Coastal Acquisition Corp. II in November 2024, which resulted in the company being listed on the Nasdaq Global Market. The merger was part of a reverse recapitalization, and the company has since been focused on advancing its product candidates, particularly ABP-102 and ABP-201, which are in the pipeline for clinical trials. The company plans to initiate clinical trials for ABP-102 in the first half of 2026, contingent on securing additional funding.
As of September 30, 2025, Abpro Holdings reported total assets of $1.7 million, a decrease from $4.7 million at the end of 2024. The company’s liabilities stood at $17.3 million, down from $19.6 million, with a stockholders' deficit of $15.6 million. The company has expressed substantial doubt about its ability to continue as a going concern, citing insufficient cash reserves to operate for the next 12 months without additional capital. Abpro Holdings plans to seek further funding through equity and debt financing, collaboration agreements, and research grants to support its ongoing operations and product development efforts.
About Abpro Holdings, Inc.
Abpro Holdings, Inc. is a biotechnology company developing next-generation antibody therapeutics for immuno-oncology and ophthalmology. Utilizing proprietary DiversImmune® and MultiMab™ platforms, it engineers multi-specific antibodies, including its TetraBi format, to target diseases like HER2+ solid tumors and vascular eye disorders. The company advances a pipeline of antibody candidates through strategic global partnerships, focusing on improved efficacy, safety, and dosing convenience in large, unmet medical markets.
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