TNF Pharmaceuticals Reports $1.1M Net Loss and Faces Liquidity Challenges in Q1 2025

TNF Pharmaceuticals, Inc. reported a net loss of $1,124,743 for the three months ended March 31, 2025, a significant decrease from the $9,800,041 loss recorded during the same period in 2024. The company did not generate any product revenue during this period, consistent with its ongoing clinical development phase. Total operating expenses for the first quarter of 2025 were $2,471,834, down from $2,784,623 in the prior year, primarily due to reduced administrative and stock-based compensation expenses. The company’s cash and marketable securities totaled $5,878,575 as of March 31, 2025, down from $9,411,966 at the end of 2024.

In terms of strategic developments, TNF Pharmaceuticals has been actively involved in financing activities, including the issuance of Series F and Series G convertible preferred stocks. As of March 31, 2025, the company had 3,840 shares of Series F and 9,221 shares of Series G preferred stock outstanding. The Series F and Series G preferred shares are convertible into common stock at adjusted prices of $0.364 per share, reflecting the impact of anti-dilution provisions. The company also reported a significant increase in the number of common shares outstanding, rising to 7,392,565 from 3,363,603 at the end of 2024.

Operationally, TNF Pharmaceuticals has focused on advancing its product candidates, Isomyosamine and Supera-CBD. The company is in the process of conducting clinical trials for Isomyosamine, which targets autoimmune diseases, and Supera-CBD, aimed at treating conditions such as epilepsy and anxiety. The company’s research and development expenses increased to $1,545,513 in the first quarter of 2025, compared to $1,198,938 in the same period last year, reflecting ongoing investments in clinical trials and product development.

Looking ahead, TNF Pharmaceuticals faces substantial challenges regarding its liquidity and ability to continue as a going concern. The company reported negative cash flows from operations of $2,640,240 for the first quarter of 2025 and has raised concerns about its ability to secure additional financing. The company is currently under a compliance period with Nasdaq to meet minimum bid price requirements for its common stock, which adds to the urgency of its financial situation. Management has indicated that the company will need to raise additional capital to support its operations and product development efforts, emphasizing the uncertainty surrounding its future financial stability.