Genelux Corporation Reports $7.5 Million Net Loss in Q2 2025, No Revenue Generated

Genelux Corporation reported its financial results for the second quarter of 2025, revealing a net loss of $7.5 million for the three months ended June 30, compared to a loss of $6.6 million in the same period of 2024. For the six months ending June 30, 2025, the company incurred a net loss of $14.9 million, slightly higher than the $14.4 million loss reported for the first half of 2024. The company did not generate any revenue during the second quarter or the first half of 2025, a significant decline from the $8,000 in revenue recorded in the first half of 2024.

Operating expenses for the second quarter of 2025 totaled $7.8 million, up from $6.9 million in the prior year, driven primarily by increased research and development costs, which rose to $4.8 million from $4.4 million. General and administrative expenses also increased to $3.0 million from $2.5 million. For the first half of 2025, total operating expenses were $15.6 million, compared to $15.0 million in the same period of 2024. The increase in expenses reflects the company's ongoing investment in clinical trials and operational activities.

In terms of strategic developments, Genelux completed an underwritten public offering in March 2025, raising approximately $9.6 million from the sale of 3 million shares of common stock at $3.50 per share. This offering was part of the company's efforts to secure additional funding to support its clinical development programs. As of June 30, 2025, Genelux had cash, cash equivalents, and short-term investments totaling $28.1 million, which the company expects will fund its operations into the third quarter of 2026.

Operationally, Genelux continues to focus on its lead product candidate, Olvi-Vec, an oncolytic viral immunotherapy for cancer treatment. The company is engaged in a Phase 2 clinical trial for Olvi-Vec in patients with recurrent non-small cell lung cancer (NSCLC), with funding for the trial being supported by its partner, Newsoara BioPharma Co. Ltd. The company has also expanded its employee headcount, with 37.8 million shares of common stock outstanding as of June 30, 2025, up from 34.7 million shares at the end of 2024.

Looking ahead, Genelux acknowledges the need for substantial additional funding to continue its operations and advance its product candidates through clinical development. The company has expressed uncertainty regarding its ability to raise future capital, which could impact its business operations and development plans. As it stands, Genelux remains focused on its clinical trials and the potential commercialization of its therapies, while navigating the challenges of funding and operational sustainability.