United Health Products Reports $1.53 Million Net Loss in Q1 2025

United Health Products, Inc. (UHP) reported its financial results for the first quarter of 2025, revealing a net loss of $1.53 million, or $0.01 per share, compared to a net loss of $451,938, or $0.00 per share, in the same period last year. The company did not generate any revenue during the quarter, maintaining the same status as the previous year. Total operating expenses surged to $1.49 million, up from $425,094 in the prior year, primarily driven by a significant increase in stock-based compensation related to the vesting of restricted stock units (RSUs).

The company's balance sheet as of March 31, 2025, showed total assets of $104,542, a substantial decrease from $269,979 at the end of 2024. Current assets fell sharply from $191,683 to $35,082, largely due to a decline in cash and cash equivalents, which dropped from $168,883 to $4,914. UHP's total liabilities increased to $2.96 million from $2.71 million, with current liabilities rising to $1.81 million, reflecting higher accrued expenses and compensation.

Strategically, UHP is focused on obtaining FDA Premarket Approval (PMA) for its CelluSTAT hemostatic gauze, which is designed for use in surgical settings. The company submitted a full PMA application in March 2024, but received a "Deficiencies Letter" from the FDA in June, requesting additional information. UHP is currently addressing these requests and plans to conduct a supplemental study involving human subjects to further validate the product's safety and effectiveness in surgical procedures. The FDA's review period for the PMA application is currently paused pending the company's responses.

Operationally, UHP's employee headcount and customer engagement metrics were not disclosed in the filing. However, the company continues to explore partnerships with established medical technology firms to enhance its market presence and expedite the commercialization of its products. UHP has also entered into a common stock purchase agreement with White Lion, allowing it to raise up to $10 million, which has already provided approximately $3.2 million to support its operations and PMA application efforts.

Looking ahead, UHP's management expressed uncertainty regarding its ability to continue as a going concern, citing ongoing losses and insufficient revenue-generating operations. The company plans to finance its future activities primarily through equity sales and additional financing sources. The outlook remains contingent on the successful resolution of regulatory hurdles and the potential for strategic partnerships to bolster its market position in the hemostatic product sector.