Valion Bio, Inc. (VBIO) Form 10-Q — Aug 14, 2026
Valion Bio (VBIO), the company formerly known as Tivic Health Systems, reported a Q2 2026 net loss of $7.1 million ($2.17 per share) and a first-half loss of $13.3 million, versus $1.9 million and $3.4 million in the prior-year periods. The 10-Q carries an explicit going-concern warning, stating substantial doubt exists about the company's ability to continue within one year. Cash fell to $2.1 million at June 30, 2026 from $12.6 million at year end after operations consumed $10.3 million in six months. The company is also out of compliance with Nasdaq's $1.00 minimum bid price rule and must cure by September 15, 2026 or face delisting proceedings.
Key figures
- Total Debt
- 16253000
- Cash Position
- 2108000
- Shares Outstanding
- 22189739
- H1 2026 eps
- -$4.59
- H1 2026 net loss
- $13.3 million (vs $3.4 million H1 2025)
- Q2 2026 net loss
- $7.1 million (vs $1.9 million Q2 2025)
- Accumulated deficit
- $66.5 million
- Stockholders equity
- $4.2 million at June 30, 2026 (down from $16.8 million at Dec 31, 2025)
- Skl agreement payments
- $0.5 million fixed fee plus up to $7.2 million development milestones plus up to $12.5 million sales-based milestones
- Convertible note principal
- $16,253,147 senior secured convertible note to 3i, LP
- Nasdaq compliance deadline
- September 15, 2026
- H1 2026 operating cash burn
- $10.3 million
- Larmor agreement milestones
- up to $1.4 million
- Series b tranched financing
- up to $8.4 million (fifth of six tranches closed June 18, 2026)
- Note offering warrant shares
- 4553213
- Series c committed financing
- up to $75 million ($12 million initial tranche closed December 2025)
- Total minimum lease payments
- $15.6 million over facility lease terms
- Statera milestone obligations
- $1.75 million ARS milestones plus up to $6.5 million for additional indications
- Convertible note interest rate
- 5.0% (10% upon event of default)
- Discontinued ops revenue q2 2026
- -$39 thousand (third-party reseller refunds)
- Convertible note conversion price
- $2.2310, with alternative VWAP-based conversion floor of $0.39
Price after filing
Close on the filing date to close N calendar days later (from $0.17). Historical, not a forecast.
AI analysis
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