CNBX Pharmaceuticals Reports Q2 Fiscal 2026 Financial Results with $44K Net Loss

CNBX Pharmaceuticals Inc. reported its financial results for the second quarter of fiscal year 2026, revealing a net loss of $44,098 for the three months ended February 28, 2026, a decrease from a net loss of $69,788 during the same period in the previous year. For the six months ended February 28, 2026, the company recorded a net loss of $157,817, compared to a loss of $104,140 for the first half of fiscal year 2025. The company did not generate any revenue during this period, maintaining a consistent trend from the previous year.

Operating expenses for the second quarter increased to $72,963, up from $64,743 in the prior year, primarily due to higher general and administrative expenses, which included salary costs. For the six-month period, total operating expenses rose to $136,965 from $101,580, again driven by increased administrative costs. The company reported a financial income of $28,865 for the second quarter, a significant improvement from a financial loss of $5,045 in the same quarter last year, attributed to the realization of convertible loans.

As of February 28, 2026, CNBX Pharmaceuticals had cash and cash equivalents of $12,154, a decrease from $15,111 at the end of the previous fiscal year. The company utilized $77,957 in cash for operations during the first half of the fiscal year, a slight improvement compared to $90,741 used in the same period last year. The company also secured $75,000 in financing through a short-term loan, down from $110,000 in the previous year. The company anticipates incurring at least $1,000,000 in expenses over the next twelve months, primarily for general expenses and clinical studies.

In terms of organizational changes, CNBX Pharmaceuticals has seen a significant increase in its common stock, with shares outstanding rising to 1,125,768,095 as of February 28, 2026, from 553,962,206 at the end of the previous fiscal year. This increase is largely due to the conversion of convertible loans into equity. The company currently has one employee, its Director Eyal Barad, and has accrued significant liabilities to related parties, raising concerns about its ability to continue as a going concern.

Looking ahead, CNBX Pharmaceuticals aims to advance its drug candidate RCC-33 for colorectal cancer through clinical trials, with plans to initiate Phase I/II trials in 2023. However, the company faces substantial challenges, including the need for additional capital to fund operations and the uncertainty surrounding market acceptance of its products. The management has indicated that the ability to continue operations will depend on generating revenue or securing necessary financing, with no current arrangements in place to raise additional funds.