Q/C Technologies, Inc. (formerly TNF Pharmaceuticals, Inc.) reported its financial results for the first quarter of 2026, revealing a net loss of $1.24 million, or $0.19 per share, compared to a net loss of $1.12 million, or $0.36 per share, in the same period last year. The company did not generate any product revenue during this quarter, consistent with its pre-revenue status. Total operating expenses for the quarter were $1.86 million, a decrease from $2.47 million in the prior year, primarily due to reduced research and development costs following the suspension of its Phase 2b study of Isomyosamine.
The company’s cash and cash equivalents increased to $1.13 million as of March 31, 2026, up from $987,000 at the end of 2025. Marketable securities decreased to $11.85 million from $14.80 million, reflecting changes in investment strategy and market conditions. Q/C Technologies reported a working capital of $10.02 million and stockholders' equity of $20.72 million, which includes an accumulated deficit of $145.65 million. The company has met its liquidity needs primarily through the sale of common and preferred stock.
Strategically, Q/C Technologies has shifted its focus from pharmaceutical development to energy-efficient blockchain and cryptocurrency infrastructure through quantum-class laser-based computing. This transition is supported by a licensing agreement with LightSolver Ltd. for the deployment of its proprietary laser processing units. The company is also evaluating the potential divestiture of its legacy pharmaceutical assets, Isomyosamine and Supera-CBD, to fund its new strategic initiatives.
Operationally, the company has made significant changes, including a reverse stock split in August 2025, which adjusted the number of shares outstanding to 7,853,429 as of March 31, 2026. The company has also entered into various consulting agreements to enhance its operational capabilities. As of the end of the quarter, Q/C Technologies had three employees, with personnel costs increasing due to new hires. The company anticipates that its current financial resources will be sufficient to fund operations for at least the next twelve months, although it acknowledges the need for additional capital to support its growth strategy.
About TNF Pharmaceuticals, Inc.
TNF Pharmaceuticals is a clinical-stage biotech focused on extending healthy lifespan through developing therapies targeting autoimmune and age-related diseases. Its key platforms include Isomyosamine, an oral immunometabolic drug for autoimmune conditions and frailty, and Supera-CBD, a synthetic analog of CBD for neurological and pain disorders. The company advances innovative, well-defined drug candidates with potential safety advantages, aiming for regulatory approval and strategic commercialization.
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