Tharimmune Reports Decreased Net Loss and Increased Assets in Q3 2025

Tharimmune, Inc. reported its financial results for the third quarter of 2025, revealing a net loss of $2.1 million for the three months ending September 30, compared to a net loss of $3.8 million during the same period in 2024. For the nine months ended September 30, 2025, the company recorded a net loss of $6.5 million, a decrease from the $8.4 million loss reported in the prior year. The reduction in losses is attributed to a significant decrease in operating expenses, which totaled $2.1 million for the quarter, down from $3.9 million in the previous year, primarily due to lower research and development costs.

In terms of financial position, Tharimmune's total assets increased to $7.7 million as of September 30, 2025, up from $3.7 million at the end of 2024. This growth was driven by a substantial increase in cash and cash equivalents, which rose to $7.6 million from $3.6 million. The company’s total liabilities decreased to $1.5 million from $2.4 million, reflecting a reduction in accounts payable and accrued expenses. The company’s stockholders’ equity also improved significantly, reaching $6.2 million compared to $1.3 million at the end of 2024.

Strategically, Tharimmune has made notable advancements, including the execution of a patent license agreement with Avior Bio, which grants the company exclusive rights to develop and commercialize its therapeutic candidates TH104 and TH103. The FDA approved an investigational new drug application for TH104 in February 2023, and the company is pursuing additional indications for this product. Furthermore, Tharimmune has expanded its pipeline with the licensing of INT-023/TH023, an oral anti-TNF-α monoclonal antibody, from Intract Pharma, enhancing its portfolio in immunology and inflammation treatments.

Operationally, Tharimmune has seen a significant increase in its common stock issuance, raising approximately $9.7 million through various public and private offerings during the nine months ended September 30, 2025. The company’s employee headcount has also grown, reflecting its expansion efforts. However, the company continues to face liquidity challenges, as indicated by its accumulated deficit of $43.4 million. Tharimmune has acknowledged the need for additional funding to support its operations and product development, which may include equity or debt financing, strategic partnerships, or grants.

Looking ahead, Tharimmune remains focused on advancing its clinical programs and intends to file a New Drug Application for TH104 in the near term. The company is also committed to a capital-efficient strategy to meet regulatory requirements while managing its cash burn rate. However, the company has expressed uncertainty regarding its ability to continue as a going concern without securing additional funding, emphasizing the importance of its upcoming financing activities to sustain its operations and achieve its business objectives.