PharmaCyte Biotech Reports $1.6 Million Net Loss for Third Quarter, Focuses on Cancer Therapy Development

PharmaCyte Biotech, Inc. reported its financial results for the three and nine months ended January 31, 2026, revealing a net loss of $1.6 million for the third quarter, compared to a loss of $3.0 million in the same period last year. For the nine-month period, the company experienced a net loss of $15.0 million, a significant decline from a net income of $18.9 million in the prior year, primarily due to changes in fair value of investments and increased operational costs. The company did not generate any revenue during both periods, maintaining a consistent trend from previous quarters.

The company's operating expenses for the third quarter increased to $2.1 million, up from $960,252 in the same quarter of the previous year, largely driven by a rise in general and administrative expenses, which surged by 141% to $2.0 million. This increase was attributed to higher stock-based compensation expenses and increased investor relations costs. Research and development expenses decreased slightly to $93,113 from $118,196, reflecting a strategic focus on cost management amid ongoing evaluations of its development programs.

PharmaCyte's total assets as of January 31, 2026, stood at approximately $55.9 million, a slight increase from $55.2 million at the end of the previous fiscal year. The company reported cash and cash equivalents of $20.2 million, up from $15.2 million, indicating improved liquidity. However, total liabilities rose significantly to $16.5 million from $3.3 million, primarily due to increased warrant liabilities and accrued expenses. The company’s stockholders' equity decreased to $38.1 million from $51.9 million, reflecting the impact of the net loss and preferred stock dividends.

Strategically, PharmaCyte has been focusing on its proprietary Cell-in-a-Box® technology for developing therapies for pancreatic cancer. The company is currently addressing a clinical hold placed by the FDA on its Investigational New Drug Application (IND) for a planned trial in locally advanced pancreatic cancer. The company has engaged in various studies and consultations to meet FDA requirements, including stability studies and assessments of the compatibility of its delivery devices. Additionally, PharmaCyte has entered into a securities purchase agreement to raise $7 million through the sale of Series C convertible preferred stock and warrants, which is expected to support its operational needs.

Looking ahead, PharmaCyte anticipates needing additional capital to complete its clinical trials and address the FDA's requirements. The company is actively exploring various financing options, including potential collaborations and licensing arrangements, although it acknowledges that these may involve relinquishing rights to some product candidates. The company remains committed to advancing its cancer therapies while navigating the complexities of regulatory compliance and market conditions.