United Health Products Reports Zero Revenue and Increased Net Loss in Q3 2025

United Health Products, Inc. (UHP) reported its financial results for the third quarter of 2025, revealing a continued lack of revenue generation, with total revenues remaining at $0 for both the three and nine months ended September 30, 2025, and 2024. The company has been focusing its resources on obtaining a Class III Premarket Approval (PMA) for its hemostatic gauze product, CelluSTAT. The net loss for the third quarter was $285,594, a slight improvement from a net loss of $303,662 in the same period last year. For the nine months ended September 30, 2025, the net loss increased to $2,132,440 from $1,187,621 in the prior year, primarily due to increased operating expenses.

Total operating expenses for the third quarter of 2025 were $233,179, down from $391,903 in the same quarter of 2024. This decrease was attributed to reduced consulting expenses and lower research and development costs, offset by increased legal expenses as the company engaged regulatory counsel to assist with FDA communications. For the nine-month period, operating expenses rose to $1,990,751 from $1,222,174, largely due to a significant increase in stock-based compensation related to the vesting of restricted stock units (RSUs).

As of September 30, 2025, UHP's total assets were reported at $94,313, a significant decline from $269,979 at the end of 2024. Current liabilities increased to $2,006,356 from $1,641,152, contributing to a negative working capital of $1,963,227. The company’s stockholders' deficit also widened to $3,339,543 from $2,443,831. The increase in liabilities was driven by higher accounts payable and accrued expenses, as well as accrued compensation.

UHP continues to pursue FDA approval for its CelluSTAT product, which is designed to control bleeding in surgical settings. The company has faced challenges in its regulatory journey, including a "Deficiencies Letter" from the FDA and subsequent requests for additional data. In response, UHP is planning to conduct a supplemental clinical study to address the FDA's concerns. The company is also exploring potential partnerships or a merger with established players in the medical technology sector to enhance its market position and secure funding.

Looking ahead, UHP's management has expressed uncertainty regarding its ability to continue as a going concern, emphasizing the need for additional financing to support its operations and development activities. The company is evaluating various options to raise capital, including potential agreements similar to its previous common stock purchase agreement with White Lion, which has now expired. The outlook remains contingent on the successful resolution of regulatory hurdles and the ability to secure necessary funding.