Ocean Biomedical Reports $8.2 Million Net Loss for Q1 2025 Amid Increased Operating Expenses

Ocean Biomedical, Inc. reported a significant net loss of $8.2 million for the three months ended March 31, 2025, compared to a net income of $13.0 million during the same period in 2024. The shift in financial performance is attributed primarily to a decrease in other income, particularly a $18.1 million decline in the changes in fair values of the Fixed Maturity Consideration and Backstop Put Option Liability. The company’s total operating expenses for the quarter were $958,595, up from $595,000 in the previous year, driven by increased general and administrative costs.

The company’s financial position has also changed notably, with total assets increasing to $1.58 million as of March 31, 2025, from $902,000 at the end of 2024. This increase is largely due to a rise in common stock outstanding, which grew from 34.9 million shares at the end of 2024 to 166.0 million shares by March 31, 2025. The stockholders’ deficit improved slightly to $92.4 million from $97.6 million, reflecting ongoing efforts to stabilize the company’s financial health.

Operationally, Ocean Biomedical has not generated any revenue since its inception and continues to rely on external financing to fund its research and development activities. The company has a working capital deficiency of $25.1 million and has indicated that it will need to raise additional funds to support its operations and development programs. The company’s current liabilities stood at $26.6 million as of March 31, 2025, down from $33.9 million at the end of 2024, indicating some progress in managing its short-term obligations.

Looking ahead, Ocean Biomedical anticipates continued operating losses as it advances its product candidates through preclinical and clinical development. The company is focused on securing additional financing through various means, including debt and equity offerings, to support its ongoing operations and research initiatives. The management has expressed confidence in its business model, which leverages partnerships with academic institutions to develop therapeutic products, but acknowledges the challenges posed by market conditions and the need for substantial capital to achieve its goals.