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GT Biopharma, Inc.
GTBPCIK 0000109657NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsDelawareFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$-28.40M
Total Assets
$8.11M
Equity
$5.79M
Shares Out
31.55M
Op. Cash Flow
$-12.90M
Business
GT Biopharma, Inc. is a clinical-stage biopharmaceutical company developing and commercializing immuno-oncology therapeutics using proprietary Tri-specific Killer Engager (TriKE®) and Dual Targeting TriKE® fusion protein platforms. Its main products are tri‑ and tetra‑specific immune cell engagers designed to harness and activate a patient’s natural killer (NK) cells to target and kill tumor or virus‑infected cells, including candidates GTB-3550, GTB-3650, GTB-5550 and GTB-7550. The company’s activities are organized around research and development, preclinical and clinical development, intellectual property and licensing, and outsourced manufacturing through third‑party contract manufacturers. GT Biopharma pursues U.S. regulatory filings and clinical trials and relies on collaborations and contract manufacturing to support development and potential global commercialization.
Summary from filing dated 2025-02-21
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Revenues | — | — | — | — | — | |
| Research and development | 3 | 6 | 6 | 9 | 10 | |
| Selling, general and administrative (including $432,000 and $230,000 of stock compensation during the years ended December 31, 2025 and 2024, respectively) | 9 | 9 | 7 | 12 | 48 | |
| Loss from Operations | −12 | −14 | −14 | −21 | −58 | |
| Interest income | 123,000 | 402,000 | 780,000 | −292,000 | −38,000 | |
| Interest expense | −127,000 | — | −213,000 | — | — | |
| Loss on initial recognition of Greenshoe Rights liability | −29 | — | — | — | — | |
| Change in fair value of Greenshoe Rights liability | 11 | — | — | — | — | |
| Change in fair value of warrant liability | 241,000 | 800,000 | 5 | −119,000 | — | |
| Gain on settlement of vendor payable | 998,000 | — | — | — | — | |
| Other | 156,000 | — | 20,000 | — | −38,000 | |
| Total Other Income (Expense), Net | −16 | 1 | 6 | −373,000 | 498,000 | |
| Net Loss | −28 | −13 | −8 | −21 | −58 | |
| Dividend on Series L Preferred Stock | −320,000 | — | — | — | — | |
| Deemed dividend | −6 | — | — | — | — | |
| Net Loss attributable to common stockholders | −34 | −13 | — | — | — | |
| Net Loss Per Share - Basic | −6.68 | −6.94 | −5.64 | −19.66 | −2.06 | |
| Net Loss Per Share - Diluted | −6.68 | −6.94 | −5.64 | −19.66 | — | |
| Weighted average common shares outstanding - basic | 6 | 2 | 1 | 1 | 28 | |
| Weighted average common shares outstanding - diluted | 6 | 2 | 1 | 1 | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2025 2025-09-30 | FY 2025 2025-06-30 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 7 | — | — | 4 | 1 | |
| Restricted cash | 94,000 | — | — | 93,000 | — | |
| Deferred offering costs | 634,000 | — | — | — | — | |
| Prepaid expenses and other current assets | 567,000 | — | — | 188,000 | 84,000 | |
| Total Current Assets | 8 | — | — | 4 | 14 | |
| TOTAL ASSETS | 8 | 4 | 7 | 4 | 14 | |
| Accounts payable | 748,000 | — | — | 4 | 4 | |
| Accrued expenses | 2 | — | — | 2 | 1 | |
| Warrant liability | 11,000 | — | — | 252,000 | 1 | |
| Total Current Liabilities | 2 | — | — | 6 | 7 | |
| Preferred stock value | — | 1,000 | 1,000 | 1,000 | 1,000 | |
| Common stock, par value $0.001, 250,000,000 shares authorized, 25,534,173 and 2,234,328 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 26,000 | 3,000 | 3,000 | 2,000 | 1,000 | |
| Additional paid in capital | 730 | 721 | 700 | 694 | 690 | |
| Accumulated deficit | −724 | −718 | −726 | −695 | −682 | |
| Total Stockholders Equity (Deficit) | 6 | 3 | −26 | −2 | 7 | |
| TOTAL LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT) | 8 | 4 | 7 | 4 | 14 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Stock based compensation | 432,000 | 230,000 | — | — | — | |
| Change in fair value of Greenshoe Rights liability | −11 | — | — | — | — | |
| Issuance of warrants for VRT waiver | 44,000 | — | — | — | — | |
| Gain on extinguishment of debt | −200,000 | — | — | −31,000 | — | |
| (Increase) Decrease in prepaid expenses and deferred offering costs | 377,000 | −104,000 | −21,000 | — | 174,000 | |
| Decrease in operating lease right-of-use assets | — | 53,000 | — | — | — | |
| Increase (Decrease) in accounts payable and accrued expenses | −1 | 937,000 | 2 | −2 | 7 | |
| (Decrease) in operating lease liability | — | −58,000 | −116,000 | −86,000 | — | |
| Net Cash Used in Operating Activities | −13 | −13 | −9 | −15 | −16 | |
| Sale of short-term investments | — | 13 | −2 | 12 | −23 | |
| Net Cash Provided by Investing Activities | — | 13 | −2 | 12 | −23 | |
| Exercise of warrants and issuance of inducement warrants for cash, net | 5 | — | — | — | 16 | |
| Proceeds from issuance of common stock and warrants, net | — | 3 | 6 | — | — | |
| Proceeds from issuance of Series L Preferred Stock and warrants, net | 11 | — | — | — | — | |
| Payment of dividend on Series L Preferred Stock | −229,000 | — | — | — | — | |
| Net Cash Provided by Financing Activities | 16 | 3 | 6 | −224,000 | 42 | |
| Net Increase in Cash and Cash Equivalents and Restricted Cash | 3 | 3 | −5 | −3 | 4 | |
| Interest | — | — | — | — | — | |
| Income taxes | — | — | — | — | — | |
| Fair value of prefunded warrants issued for Committed Equity Facility fee | 672,000 | — | — | — | — | |
| Fair value of common stock and warrants issued for services | 718,000 | — | 702,000 | — | 39 | |
| Fair value of prefunded warrant and common stock to settle vendor payable | 847,000 | 810,000 | — | — | — | |
| Fair value of common stock issued for dividends | 91,000 | — | — | — | — |
Filings
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