N2OFF, Inc. reported a net loss of $4.2 million for the fiscal year ending December 31, 2025, a decrease from a loss of $5.3 million in the previous year. The company's operating expenses rose to $4.2 million, primarily driven by general and administrative costs, which increased by 56% to $5.1 million, largely due to higher share-based compensation and professional services. Research and development expenses were recorded at $179,000, reflecting the company's focus on its subsidiary MitoCareX, which specializes in developing cancer therapeutics targeting mitochondrial proteins.

The company underwent significant strategic changes during the year, including the sale of its Save Foods operations, which were classified as discontinued. This transaction involved transferring approximately 98% of Save Foods' shares to Voice Assist, Inc., in exchange for stock and potential future royalties. The company also completed the acquisition of MitoCareX, which is focused on drug discovery for oncology, particularly targeting non-small cell lung cancer (NSCLC) and pancreatic cancer. This acquisition is expected to enhance N2OFF's capabilities in the biopharmaceutical sector.

Operationally, N2OFF's workforce consisted of nine employees as of March 31, 2026, and the company is actively pursuing the development of its proprietary MITOLINE™ algorithm for drug discovery. The company reported cash and cash equivalents of $3.8 million at the end of 2025, an increase from $1.9 million in 2024, primarily due to financing activities. However, the company continues to face challenges, including a history of operating losses and the need for additional capital to support ongoing operations and development efforts.

Looking ahead, N2OFF anticipates continued investment in MitoCareX's drug development programs and aims to leverage its computational chemistry platform to identify new therapeutic candidates. The company acknowledges the risks associated with its business model, including reliance on external funding and the uncertainties inherent in drug development. N2OFF's management has expressed confidence in its strategic direction but recognizes the need for ongoing capital to sustain operations and achieve its growth objectives.

About N2OFF, Inc.

N2OFF, Inc. develops eco-friendly post-harvest and pre-harvest solutions for the agri-food industry, focusing on food safety and reducing food waste. Its core products include proprietary blends of organic acids and sanitizers that control pathogens, extend shelf life, and meet strict regulatory standards. Serving global markets, the company partners with packers, growers, and distributors to promote sustainable, chemical-residue-free produce.

This description was generated via AI from an annual report. Updated 8 months ago.

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