BullFrog AI Holdings, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending June 30, 2026. The company generated total revenue of $215,385, a substantial increase from $33,257 in the same period last year. This growth is attributed to the recognition of collaboration revenue from a feasibility agreement with a global pharmaceutical company. Despite the increase in revenue, the company reported a net loss of $1,371,530 for the quarter, slightly improved from a loss of $1,448,729 in the prior year. The loss per share for the quarter was $(0.07), compared to $(0.15) in the same quarter of 2025.
In terms of operational metrics, BullFrog AI's total assets rose to $7.69 million as of June 30, 2026, up from $2.81 million at the end of 2025. The increase in assets was primarily driven by a significant rise in cash and cash equivalents, which reached $6.92 million, compared to $2.18 million at the end of the previous fiscal year. The company's stockholders' equity also improved, totaling $6.99 million, up from $2.14 million at the end of 2025, reflecting successful capital raises through stock sales.
Strategically, BullFrog AI has made notable advancements, including the completion of a collaboration agreement with Eleison Pharmaceuticals and a strategic partnership with Sygnature Discovery. The company has also entered into a feasibility agreement to apply its proprietary bfLEAP™ platform for drug target discovery, which is expected to enhance its service offerings in the biopharmaceutical sector. As of June 30, 2026, the company had 18,541,651 shares of common stock issued and outstanding, a significant increase from 11,418,183 shares at the end of 2025, indicating successful capital raising efforts.
Despite these positive developments, the company faces challenges regarding its liquidity and ability to continue as a going concern. As of June 30, 2026, BullFrog AI's cash position is not sufficient to fund its planned operations for at least the next year, raising concerns about its financial sustainability. The company has indicated that it will require additional capital to support its operations and growth strategy, which may include further equity sales or partnerships. Additionally, BullFrog AI is under scrutiny from Nasdaq for compliance with listing requirements, having previously received notices regarding stockholder equity and minimum bid price compliance.
Looking ahead, BullFrog AI aims to leverage its AI/ML platform to enhance drug development processes and expand its market presence. The company plans to continue pursuing strategic partnerships and collaborations to drive revenue growth while managing its operational costs. However, the success of these initiatives will depend on securing adequate financing and maintaining compliance with Nasdaq listing standards.
About BullFrog AI Holdings, Inc.
Bullfrog AI Holdings, Inc. develops and applies proprietary artificial intelligence and machine learning technology, bfLEAP™, to enhance drug development by analyzing complex preclinical and clinical data. The company focuses on rescuing and advancing therapeutics, particularly in oncology and rare diseases, through data-driven patient stratification and trial optimization. Its business model includes licensing drug rights, collaborative partnerships, and fee-for-service analytics targeting biopharmaceutical companies and research institutions.
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