Profusa Reports $8.2 Million Net Loss and Decreased Assets in Latest 10-Q Filing

Profusa, Inc., formerly known as NorthView Acquisition Corporation, reported significant financial developments in its latest 10-Q filing for the quarter ending June 30, 2025. The company recorded a net loss of $8.2 million for the three months ended June 30, 2025, compared to a loss of $397,487 in the same period last year. For the six months ending June 30, 2025, the net loss was $9.3 million, a substantial increase from the $1.2 million loss reported in the first half of 2024. The increase in losses is attributed to higher formation and operating costs, which rose to $967,084 for the quarter, up from $253,130 a year earlier.

The company's total assets decreased significantly to $1.96 million as of June 30, 2025, down from $8.39 million at the end of 2024. This decline was primarily due to a reduction in cash held in the Trust Account, which fell from $8.33 million to $1.93 million. Current liabilities also surged to $23.14 million, compared to $13.01 million at the end of the previous fiscal year, largely driven by an increase in accounts payable and accrued expenses, as well as a convertible promissory note that rose to $10.29 million.

Strategically, Profusa completed its merger with Profusa, Inc. on July 11, 2025, marking a significant milestone in its business operations. This merger was approved by shareholders on June 9, 2025, and resulted in Profusa becoming a wholly-owned subsidiary of the company. The merger was part of a broader strategy to enhance the company's market position and operational capabilities. Following the merger, the company changed its name to Profusa, Inc. and is now focused on integrating its operations and pursuing growth opportunities in the biotechnology sector.

Operationally, the company has faced challenges, including a working capital deficit of $15.49 million as of June 30, 2025. The company has not generated any operating revenues to date, as it has primarily focused on the merger and related activities. The filing indicates that the company is actively seeking to address its liquidity needs through various financing arrangements, including a convertible working capital promissory note with its sponsor, which has been amended to allow for increased borrowing capacity.

Looking ahead, Profusa's management has expressed concerns regarding the company's ability to continue as a going concern, given the substantial losses and working capital deficit. The company is exploring additional financing options and strategic partnerships to bolster its financial position and support its operational goals. The outlook remains uncertain as the company navigates the post-merger integration process and seeks to establish a sustainable revenue stream.