Actuate Therapeutics Reports $5.95 Million Net Loss in Q2 2025, Seeks Additional Capital

Actuate Therapeutics, Inc. reported a net loss of $5.95 million for the second quarter of 2025, a decrease from the $6.57 million loss recorded in the same period of 2024. For the first half of 2025, the company’s net loss was $12.27 million, compared to $14.87 million for the first half of 2024. The reduction in losses is attributed to a significant decrease in research and development expenses, which fell to $2.76 million in Q2 2025 from $4.37 million in Q2 2024, primarily due to lower patient fees and costs associated with clinical trials. General and administrative expenses, however, increased sharply to $3.20 million in Q2 2025 from $1.06 million in Q2 2024, largely driven by higher personnel-related costs and stock-based compensation.

Actuate's total operating expenses for the first half of 2025 were $12.33 million, a slight decrease from $13.21 million in the same period of the previous year. The company’s cash and cash equivalents stood at $6.49 million as of June 30, 2025, down from $8.64 million at the end of 2024. The decline in cash reserves reflects ongoing operational expenditures and the need for additional capital to support future clinical trials and operational activities. Actuate has not generated any revenue since its inception and continues to rely on external financing to fund its operations.

In terms of strategic developments, Actuate entered into a Committed Equity Facility with B. Riley Principal Capital II in March 2025, allowing the company to sell up to $50 million in common stock over a 36-month period. During the second quarter, Actuate raised approximately $2.15 million through this facility. Additionally, the company completed a private placement of common stock and warrants in June 2025, generating net proceeds of $4.62 million. These financing activities are crucial as Actuate anticipates that its existing cash will not meet operational needs beyond October 2025 without further capital raises.

Operationally, Actuate is focused on advancing its lead product candidate, elraglusib, which is currently in clinical trials for various cancer indications, including metastatic pancreatic ductal adenocarcinoma. The company has reported positive topline results from its Phase 2 trial, indicating improved overall survival rates for patients treated with elraglusib in combination with standard chemotherapy. Actuate is also exploring additional indications for elraglusib, including pediatric cancers, and plans to initiate further clinical studies pending funding availability.

Looking ahead, Actuate Therapeutics faces significant challenges, including the need for substantial additional capital to continue its operations and clinical development programs. The company has expressed uncertainty regarding its ability to secure necessary funding on favorable terms, which could impact its ability to advance elraglusib and other potential product candidates. The management remains focused on executing its business strategy while navigating the complexities of the biopharmaceutical landscape.