Hepion Pharmaceuticals Reports No Revenue and $1.25 Million Net Loss in Q2 2026

Hepion Pharmaceuticals, Inc. reported its financial results for the second quarter of 2026, revealing a continued lack of revenue generation, consistent with previous periods. The company recorded no revenues for the three and six months ended June 30, 2026, maintaining its status as a pre-revenue entity. The net loss for the second quarter was $1.25 million, compared to a loss of $1.04 million in the same period of the previous year. For the first half of 2026, the net loss was $2.06 million, a significant improvement from the $7.15 million loss reported for the first half of 2025.

Total operating expenses for the second quarter of 2026 were approximately $1.21 million, down from $1.75 million in the prior year, reflecting a decrease in research and development costs, which fell to $50,918 from $423,277. This reduction is attributed to the completion of certain projects and the absence of asset impairment losses, which had previously impacted financial results. General and administrative expenses increased to $1.16 million from $919,488, primarily due to higher personnel costs and public company expenses.

In terms of strategic developments, Hepion entered into an intellectual property license agreement with Cirna Diagnostics, LLC in February 2026, acquiring liver disease diagnostic assets for an upfront payment of $70,000, with potential milestone payments totaling up to $6.85 million. This acquisition is part of the company's shift in focus from drug therapy development to medical diagnostics. Additionally, the company has made significant changes in its leadership, including new employment agreements for its Executive Chairman and CEO, and the resignation of its previous CEO in April 2026.

As of June 30, 2026, Hepion reported total assets of $1.93 million, a decrease from $3.07 million at the end of 2025. The company’s cash position was $1.63 million, down from $1.83 million at the end of the previous fiscal year. Current liabilities increased to $492,759, up from $299,383, largely due to higher accrued expenses. The company’s accumulated deficit reached $248.16 million, reflecting its ongoing financial challenges.

Looking ahead, Hepion acknowledges the need for additional capital to sustain operations and fund future projects. The company has engaged in private placements, raising $700,000 in April 2026 and approximately $3.1 million in July 2026 through the issuance of common stock and warrants. However, the company has expressed substantial doubt about its ability to continue as a going concern without securing further financing. The management's outlook emphasizes the necessity of raising additional funds to support ongoing operations and strategic initiatives, while also addressing the material weaknesses in internal controls identified in its financial reporting.