Tharimmune Reports Q2 2025 Financial Results with Reduced Losses and Ongoing Funding Challenges

Tharimmune, Inc. reported its financial results for the second quarter of 2025, revealing a net loss of $1.86 million, or $0.64 per share, compared to a net loss of $2.33 million, or $2.42 per share, for the same period in 2024. For the first half of 2025, the company recorded a net loss of $4.40 million, a slight decrease from the $4.58 million loss reported in the first half of 2024. Total operating expenses for the second quarter were $1.85 million, down from $2.37 million in the prior year, primarily due to reduced research and development costs, which fell to $546,204 from $999,553.

The company experienced significant changes in its financial position compared to the previous fiscal period. As of June 30, 2025, Tharimmune's total assets decreased to $2.53 million from $3.72 million at the end of 2024. Cash and cash equivalents also declined to $2.24 million from $3.56 million. However, total liabilities decreased to $2.16 million from $2.41 million, indicating a reduction in financial obligations. The company’s accumulated deficit increased to approximately $41.30 million, up from $36.90 million at the end of 2024.

Strategically, Tharimmune has made notable advancements, including the execution of a patent license agreement with Avior Inc. for the development of TH104 and TH103, which target chronic pruritus and other conditions. The FDA approved an investigational new drug application for TH104 in February 2023, and the company is pursuing additional indications for the drug. Furthermore, Tharimmune has expanded its pipeline with the development of bispecific antibodies targeting key immuno-oncology pathways, including HS1940 and HS3215.

Operationally, Tharimmune's employee headcount has remained stable, and the company has engaged in various financing activities to support its operations. In the first half of 2025, the company raised approximately $2.5 million through private investment in public equity offerings and $266,625 through at-the-market offerings. Despite these efforts, the company reported a net cash outflow of $3.83 million from operating activities during the first half of 2025, highlighting ongoing liquidity challenges.

Looking ahead, Tharimmune acknowledges the need for substantial additional funding to support its operations and product development. The company is exploring various financing options, including equity and debt securities, strategic partnerships, and grants. However, there is substantial doubt about its ability to continue as a going concern for at least one year following the issuance of its financial statements, underscoring the critical need for timely capital to achieve its business objectives.