G
GENELUX Corp
GNLXCIK 0001231457NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthPharmaceutical PreparationsDelawareFY ends Dec 31
Period
FY 2025
Revenue
$8.0K
Net Income
$-32.10M
Total Assets
$19.03M
Equity
$11.54M
Shares Out
44.81M
Op. Cash Flow
$-25.30M
Business
GENELUX Corp is a late clinical-stage biopharmaceutical company developing next-generation oncolytic viral immunotherapies to selectively kill tumor cells and induce patient-specific immune responses. It offers engineered oncolytic vaccinia virus product candidates, led by Olvi-Vec (olvimulogene nanivacirepvec), and a CHOICE discovery platform supporting a library of VACV variants and over 110 transgenes. Key business activities include clinical development, in-house cGMP manufacturing, and strategic collaborations and joint ventures (e.g., Newsoara and V2ACT) for development and commercialization. Its programs are conducted in the United States, Greater China and other international sites through clinical trials, partner-led development and third-party distribution arrangements.
Summary from filing dated 2025-03-28
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 |
|---|---|---|---|---|---|
| Revenue | 8,000 | 8,000 | 170,000 | 11 | |
| Research and development | 20 | 19 | 13 | 9 | |
| General and administrative | 13 | 13 | 12 | 5 | |
| Total operating expenses | 33 | 32 | 24 | 14 | |
| Operating loss | −33 | −32 | −24 | −3 | |
| Interest income | 711,000 | 700,000 | 182,000 | — | |
| Bond accretion income | 358,000 | 757,000 | 62,000 | — | |
| Gain on extinguishment of accounts payable | — | 370,000 | — | — | |
| Total other income | 1 | 2 | −4 | −1 | |
| Net loss | −32 | −30 | −28 | −5 | |
| Net loss per common share - basic | −0.86 | −0.95 | −1.16 | −0.57 | |
| Net loss per common share - Diluted | −0.86 | −0.95 | −1.16 | −0.57 | |
| Weighted Average Number of Shares Outstanding, Basic | 37 | 31 | 31 | 9 | |
| Weighted Average Number of Shares Outstanding, Diluted | 37 | 31 | 24 | 9 | |
| Unrealized (loss) gain on available-for-sale securities | −55,000 | 50,000 | — | — | |
| Comprehensive loss | −32 | −30 | — | — |
Consolidated Balance Sheet
As of · 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 |
|---|---|---|---|---|---|---|
| Cash, cash equivalents and restricted cash | 5 | 9 | 9 | 397,000 | — | |
| Marketable securities | 9 | 22 | — | — | — | |
| Prepaid expenses and other current assets | 535,000 | 653,000 | 1 | 1 | — | |
| Total current assets | 15 | 32 | 24 | 2 | — | |
| Property and equipment, net | 2 | 1 | 1 | 644,000 | — | |
| Right of use assets | 2 | 2 | 2 | 1 | — | |
| Other assets | 144,000 | 92,000 | 92,000 | 92,000 | — | |
| Total Assets | 19 | 35 | 28 | 6 | — | |
| Accounts payable and accrued expenses | 4 | 6 | 4 | 7 | — | |
| Accrued payroll and payroll taxes | 1 | 1 | 2 | 3 | — | |
| Lease liabilities, current portion | 427,000 | 329,000 | 653,000 | 266,000 | — | |
| Total current liabilities | 6 | 7 | 7 | 32 | — | |
| Lease liabilities, net of current portion | 1 | 2 | 2 | 1 | — | |
| Total liabilities | 7 | 8 | 8 | 41 | — | |
| Commitments and contingencies (Note 10) | — | — | — | — | — | |
| Common stock, par value $0.001, 200,000,000 shares authorized; 38,139,144 and 34,728,140 shares issued and outstanding | 38,000 | 35,000 | 27,000 | 9,000 | — | |
| Treasury stock, 433,333 shares, at cost | −433,000 | −433,000 | −433,000 | −433,000 | — | |
| Additional paid-in capital | 295 | 278 | 241 | 154 | — | |
| Accumulated other comprehensive income | 9,000 | 64,000 | 14,000 | 2,000 | — | |
| Accumulated deficit | −284 | −251 | −222 | −190 | — | |
| Total stockholders equity | 12 | 26 | 19 | −36 | −33 | |
| Total Liabilities and Stockholders Equity | 19 | 35 | 28 | 6 | — |
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 |
|---|---|---|---|---|---|
| Depreciation expense | 200,000 | 200,000 | 499,000 | 553,000 | |
| Accretion of discount on marketable securities | −226,000 | −757,000 | — | — | |
| Right-of-use asset | 330,000 | 668,000 | 519,000 | 415,000 | |
| Stock compensation | 6 | 6 | 3 | 2 | |
| Fair value of restricted stock units | 898,000 | 2 | 940,000 | — | |
| Cost of stock option modifications and repricing | 806,000 | 332,000 | 3 | — | |
| Prepaid expenses and other assets | 66,000 | 359,000 | 483,000 | −168,000 | |
| Accounts payable and accrued expenses | −1 | 2 | −2 | 2 | |
| Accrued payroll and payroll taxes | 438,000 | −1 | −735,000 | — | |
| Lease liability | −337,000 | −651,000 | −523,000 | −389,000 | |
| Net cash used in operating activities | −25 | −21 | −20 | −4 | |
| Purchases of property and equipment | −1 | −381,000 | −1 | −49,000 | |
| Purchase of marketable securities | −18 | −29 | −14 | — | |
| Proceeds from sales and maturities of marketable securities | 32 | 21 | — | — | |
| Net cash provided by (used in) investing activities | 12 | −8 | −15 | −49,000 | |
| Proceeds from common stock issued | 10 | 28 | 25 | — | |
| Proceeds from common stock issued in connection with the Companys equity award programs | 104,000 | 125,000 | — | — | |
| Proceeds from the exercise of stock options | 14,000 | — | 1 | — | |
| Proceeds from the exercise of stock warrants | 224,000 | 688,000 | 3 | 120,000 | |
| Net cash provided by financing activities | 10 | 29 | 44 | −478,000 | |
| Net decrease in cash, cash equivalents and restricted cash | −3 | −853,000 | 9 | −4 | |
| Unrealized (loss) gain on marketable securities | −55,000 | 50,000 | — | — | |
| Initial recognition of right-of-use asset obtained in exchange for operating lease liabilities | 153,000 | — | — | — |
Filings
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