United Health Products Reports $0 Revenue and Increased Net Loss in Q2 2025

United Health Products, Inc. (UHP) reported its financial results for the second quarter of 2025, revealing a continued lack of revenue generation, with total revenues remaining at $0 for both the three and six months ended June 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 second quarter of 2025 was $315,187, a decrease from the net loss of $432,021 in the same period last year. For the first half of 2025, the net loss increased to $1,846,846 compared to $883,959 in the prior year, primarily due to a significant rise in operating expenses.

Total operating expenses for the second quarter of 2025 were $268,356, down from $405,177 in the same quarter of 2024. This reduction was attributed to decreased legal and professional expenses, which fell by $135,669, and a reduction in obsolete inventory write-offs. However, the company experienced an increase in research and development expenses and marketing activities. For the first half of 2025, total operating expenses surged to $1,757,572, compared to $830,271 in the same period of 2024, largely due to a $1,120,125 increase in stock-based compensation related to the vesting of restricted stock units (RSUs).

UHP's balance sheet as of June 30, 2025, showed total assets of $81,538, a significant decline from $269,979 at the end of 2024. Current liabilities increased to $1,904,590 from $1,641,152, contributing to a total liabilities figure of $3,252,090, up from $2,713,810. The company's stockholders' deficit also widened to $3,170,552 from $2,443,831, reflecting ongoing financial challenges. The company had cash and cash equivalents of $225, a decrease from $168,883 at the end of 2024, indicating liquidity concerns.

Strategically, UHP is pursuing FDA approval for its CelluSTAT product, which has been the focus of its operations. The company submitted a full PMA application in March 2024, but received a "Deficiencies Letter" from the FDA in June 2024, requesting additional information. UHP is currently working to address these concerns and has proposed a supplemental clinical study to gather more data. The company has also engaged a regulatory attorney to assist in navigating the approval process. Despite these efforts, there is no assurance that the PMA will be granted, and the company is exploring potential partnerships or a merger to enhance its market position.

Looking ahead, UHP's management has expressed uncertainty regarding its ability to continue as a going concern, given its negative working capital and reliance on external financing. The company has entered into a common stock purchase agreement with White Lion, which allows for the purchase of up to $10 million in common stock, but the future availability of financing remains uncertain. UHP's ability to achieve its business objectives and secure necessary funding will be critical to its operational viability and growth prospects.