SmartKem, Inc. (SMTK) Form 10-Q — May 20, 2026
SmartKem reported a net loss of $19.4 million for the first quarter of 2026, driven primarily by an $11.9 million non-cash loss associated with the execution of an Equity Line of Credit (ELOC) and a $3.4 million loss from changes in the fair value of derivative liabilities. Revenue remained negligible at $20,000, derived from sales of OTFT backplanes and materials for customer assessment. The company disclosed a going-concern warning, stating that its cash position of $7.6 million is insufficient to fund operations for the next 12 months.
Key figures
- Revenue
- 20000
- Total Debt
- 101000
- Total Assets
- 9477000
- Cash Position
- 7566000
- Shares Outstanding
- 21446213
- Eloc Loss
- 11874000
- Rd Expense
- 913000
- Gna Expense
- 1664000
- Derivative Loss
- 3391000
- Gross Proceeds RDO
- 2600000
- Warrants Outstanding
- 27536095
- Gross Proceeds Preferred
- 4600000
Price after filing
Close on the filing date to close N calendar days later (from $0.25). Historical, not a forecast.
AI analysis
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