Valion Bio, Inc. (VBIO)
Valion Bio, Inc. operates as a late-stage biopharmaceutical company. Its lead drug candidate is Entolimod, a TLR5 agonist that is in late-stage development to treat acute radiation syndrome. The company's pipeline also comprises Entolimod to treat Neutropenia and lymphocyte exhaustion; and Entolasta, an immunologically optimized variant of Entolimod for chronic applications, such as immunosenescence. In addition, it offers CDMO services. The company was formerly known as Tivic Health Systems, Inc. and changed its name to Valion Bio, Inc. in April 2026. The company was incorporated in 2016 and is based in San Antonio, Texas.
Sector: Pharmaceutical Preparations
Industry: Biotechnology
Valion Bio, Inc.
NASDAQ:VBIOHealthcare · Biotechnology
-10.83%$0.5500
AH$0.5304-3.56%vs close
Mkt Cap$1.19M
Float2.15M
O/S2.16M
Vol
$ Vol
RVOL
Inst Own0.7%
SI5.4%
Earnings
Dilution
Financials Summary
Revenue$0
Net Income-$8.88M
Total Assets$31.61M
Free Cash Flow-$7.04M
Debt & Equity
Debt 28%
Equity 72%
Total Debt$6.45M
Total Equity$16.8M
Shares Outstanding
Short Interest
Split History1 split · 1 reverse
2-year cumulative
1:25
Nasdaq bars a compliance period at 1:250
- 1:25Reverse splitAug 31, 202625 shares → 1
Balance Sheet Details
Assets$31.61M
Liabilities$14.81M
Accounts Receivable$0
Accounts Payable$264K
Inventory$0
PP&E (Net)$16.1M
Goodwill$0
Intangible Assets$2.24M
Income Statement
| Period | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Revenue | $0 | $0 | $1.18M | $1.84M | $1.26M | $860K | $420K |
| YoY Growth | - | - | -36.1% | 46.4% | 46.2% | 104.8% | - |
| Cost of Revenue | $0 | $352K | $889K | $1.54M | $1.3M | $1.09M | $713K |
| Gross Profit | $0 | -$352K | $287K | $299K | -$46K | -$233K | -$293K |
| Gross Margin | - | - | 24.4% | 16.3% | -3.7% | -27.1% | -69.8% |
| Research and Development | $3.13M | $1.31M | $1.66M | $1.73M | $870K | $768K | $986K |
| Selling, General, and Administrative | $4.77M | $2.75M | $6.88M | $8.67M | $4.72M | $2.32M | $2.36M |
| Other | $0 | -$3K | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $7.9M | $4.06M | $8.53M | $10.4M | $5.59M | $3.09M | $3.35M |
| Operating Income (EBIT) | -$7.9M | -$4.42M | -$8.24M | -$10.1M | -$5.63M | -$3.32M | -$3.64M |
| Operating Margin | - | - | -701.1% | -548.8% | -448.1% | -386.2% | -867.4% |
| Interest Expense | $146K | $0 | $0 | $0 | $1.82M | $423K | $443K |
| Interest Income | $23K | $6K | $1K | $2K | $0 | $0 | $0 |
| Other Income (Expense) | -$95K | -$54K | $1K | $2K | -$2.86M | -$318K | -$503K |
| Income Before Tax (EBT) | -$7.99M | -$4.47M | -$8.24M | -$10.1M | -$8.49M | -$3.64M | -$4.15M |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $2K |
| Net Income | -$8.88M | -$5.66M | -$8.24M | -$10.1M | -$8.49M | -$3.64M | -$4.15M |
| Net Income Margin | - | - | -701.0% | -548.7% | -675.7% | -423.1% | -987.6% |
| Supplementary Data | |||||||
| EPS | -7.84 | -19.68 | -176.80 | -1768.00 | -4133.60 | -667.69 | -761.09 |
| Diluted EPS | -7.84 | -19.68 | -176.80 | -1768.00 | -4133.60 | -667.69 | -761.09 |
| Weighted Average OS | 1.16M | 287,370 | 46,650 | 5,689 | 2,054 | 5,450 | 5,450 |
| EBITDA | -$7.84M | -$4.06M | -$8.06M | -$9.92M | -$5.61M | -$3.31M | -$3.64M |
| EBITDA Margin | - | - | -685.6% | -539.3% | -446.2% | -385.2% | -866.4% |
Balance Sheet
| Period | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Assets | |||||||
| Current Assets | |||||||
| Cash and Cash Equivalents | $12.64M | $2M | $3.4M | $3.52M | $12.97M | $1.04M | $2.31M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $12.64M | $2M | $3.4M | $3.52M | $12.97M | $1.04M | $2.31M |
| Accounts Receivable | $0 | $69K | $174K | $107K | $92K | $52K | $13K |
| Inventory | $0 | $319K | $756K | $863K | $429K | $241K | $475K |
| Other Current Assets | $361K | $249K | $327K | $819K | $793K | $160K | $175K |
| Total Current Assets | $13.01M | $2.64M | $4.65M | $5.31M | $14.29M | $1.5M | $2.97M |
| Long-Term Assets | |||||||
| Property, Plant & Equipment Net | $16.1M | $2K | $471K | $535K | $698K | $19K | $27K |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $2.24M | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $260K | $166K | $34K | $34K | $49K | $15K | $23K |
| Total Long-Term Assets | $18.6M | $168K | $505K | $569K | $747K | $34K | $50K |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $31.61M | $2.81M | $5.16M | $5.88M | $15.04M | $1.53M | $3.02M |
| Liabilities | |||||||
| Current Liabilities | |||||||
| Accounts Payable | $264K | $125K | $713K | $1.32M | $789K | $370K | $369K |
| Short-Term Debt | $0 | $0 | $0 | $0 | $163K | $36K | $0 |
| Current Income Tax Payable | $180K | $0 | $160K | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $16K | $1K |
| Other Current Liabilities | $6K | $15K | $0 | $0 | $61K | $853K | $283K |
| Total Current Liabilities | $646K | $272K | $1.4M | $1.88M | $1.22M | $1.27M | $653K |
| Long-Term Liabilities | |||||||
| Long-Term Debt | $6.45M | $0 | $0 | $0 | $0 | $1.43M | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $7.71M | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $14.16M | $0 | $176K | $367K | $545K | $1.43M | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $14.81M | $272K | $1.58M | $2.25M | $1.76M | $2.71M | $653K |
| Stockholders' Equity | |||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $1K | $1K |
| Common Stock | $2K | $1K | $0 | $0 | $1K | $1K | $1K |
| Retained Earnings | -$52.6M | -$43.54M | -$37.89M | -$29.64M | -$19.55M | -$11.05M | -$7.41M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $69.39M | $46.08M | $41.47M | $33.27M | $32.82M | $9.87M | $9.78M |
| Total Equity | $16.8M | $2.54M | $3.58M | $3.63M | $13.27M | -$1.18M | $2.37M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $31.61M | $2.81M | $5.16M | $5.88M | $15.04M | $1.53M | $3.02M |
| Supplementary Data | |||||||
| Total Debt | $6.45M | $0 | $369K | $530K | $708K | $1.47M | $0 |
| Net Debt | -$6.19M | -$2M | -$3.03M | -$2.99M | -$12.27M | $425K | -$2.31M |
Cash Flow Statement
| Period | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Operating Activities | |||||||
| Net Income | -$7.99M | -$4.47M | -$8.24M | -$10.1M | -$8.49M | -$3.64M | -$4.15M |
| Depreciation & Amortization | $5K | $352K | $182K | $174K | $24K | $8K | $4K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $564K | $229K | $271K | $398K | $0 | $0 | $0 |
| Changes in Working Capital: | |||||||
| Accounts Receivable | $0 | $105K | -$67K | $1K | -$66K | -$75K | -$26K |
| Inventory | $0 | $83K | $75K | -$434K | -$181K | $227K | -$476K |
| Accounts Payable | $139K | -$588K | -$610K | $534K | $419K | $1K | $348K |
| Other Working Capital | $313K | -$793K | -$150K | $504K | -$575K | -$109K | $86K |
| Total Working Capital Change | $452K | -$1.19M | -$752K | $605K | -$403K | $44K | -$68K |
| Other Non-Cash Items | -$27K | -$643K | $32K | $0 | $3.26M | $560K | $542K |
| Net Cash from Operating | -$7M | -$5.72M | -$8.51M | -$8.92M | -$5.61M | -$3.03M | -$3.67M |
| Investing Activities | |||||||
| Capital Expenditures | -$38K | $0 | -$118K | -$11K | $0 | $0 | -$31K |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | -$124K | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | -$543K | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | -$705K | $0 | -$118K | -$11K | $0 | $0 | -$31K |
| Financing Activities | |||||||
| Debt Repaid | $172K | - | - | - | -$2.59M | -$1.75M | -$1.71M |
| Common Stock Issuance | $18.52M | $4.38M | $8.51M | $0 | $14.95M | $13K | $3.84M |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$27K | -$49K | $0 | -$528K | $0 | $0 | $0 |
| Net Cash from Financing | $18.35M | $4.33M | $8.51M | -$528K | $17.54M | $1.76M | $5.55M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $459K |
| Net Change in Cash | $10.64M | -$1.39M | -$122K | -$9.46M | $11.93M | -$1.27M | $2.31M |
| Supplementary Data | |||||||
| Operating Cash Flow | -$7M | -$5.72M | -$8.51M | -$8.92M | -$5.61M | -$3.03M | -$3.67M |
| Capital Expenditure | -$38K | $0 | -$118K | -$11K | $0 | $0 | -$31K |
| Free Cash Flow | -$7.04M | -$5.72M | -$8.63M | -$8.93M | -$5.61M | -$3.03M | -$3.7M |
| Cash at Beginning | $2M | $3.4M | $3.52M | $12.97M | $1.04M | $2.31M | $0 |
| Cash at End | $12.64M | $2M | $3.4M | $3.52M | $12.97M | $1.04M | $2.31M |