GT Biopharma Reports $3.1 Million Net Loss in Q3 2025, Improved Financial Position

GT Biopharma, Inc. has reported its financial results for the third quarter of 2025, revealing a net loss of $3.1 million for the three months ended September 30, 2025, a decrease from the $3.4 million loss recorded in the same period last year. For the nine months ended September 30, 2025, the company reported a net loss of $5.3 million, significantly improved from a loss of $9.4 million during the same period in 2024. The reduction in losses is attributed to decreased research and development expenses, which fell by 51% to $634,000 for the quarter and by 46% to $2.1 million for the nine-month period, primarily due to lower production and material costs.

The company’s total operating expenses for the third quarter were $3.4 million, a slight decrease from $3.6 million in the prior year. The decline in expenses was driven by a reduction in research and development costs, while selling, general, and administrative expenses saw a modest increase of 3% for the quarter. Notably, stock-based compensation expenses were recorded for the first time in the third quarter of 2025, amounting to $379,000. The company has not generated any revenue from product sales, maintaining its focus on the development of its TriKE® and Dual Targeting TriKE® platforms.

GT Biopharma's balance sheet as of September 30, 2025, shows total assets of $4.3 million, a slight increase from $4.2 million at the end of 2024. The company reported a significant reduction in current liabilities, which decreased from $5.9 million to $1.3 million, primarily due to a decrease in accounts payable and accrued expenses. Stockholders' equity improved to $3 million, compared to a deficit of $1.7 million at the end of 2024, reflecting the company's efforts to stabilize its financial position.

In terms of strategic developments, GT Biopharma has made progress in its clinical pipeline, particularly with its GTB-3650 product candidate, which targets CD33 in relapsed/refractory acute myeloid leukemia (AML) and high-risk myelodysplastic syndromes (MDS). The company received FDA clearance for its Investigational New Drug (IND) application for GTB-3650 in June 2024, with patient enrollment for clinical trials commencing in January 2025. Additionally, the company is advancing its GTB-5550 candidate, which targets B7-H3 in solid tumors, with plans to submit an IND application by early 2026.

Looking ahead, GT Biopharma faces challenges related to its liquidity and ability to continue as a going concern. The company reported cash and cash equivalents of $2.6 million at the end of the third quarter, down from $4 million at the beginning of the period. The company has indicated that it will need to secure additional financing to support its operations and product development efforts. Without such financing, GT Biopharma may be forced to reduce or eliminate discretionary spending, which could adversely impact its business prospects.