Valion Bio, Inc.
Business
Valion Bio is a late-stage biopharmaceutical company developing Entolimod, a recombinant TLR5 agonist, for acute radiation syndrome and oncology indications including neutropenia, thrombocytopenia, and mucositis. The company holds exclusive worldwide rights to Entolimod and its next-generation derivative Entolasta. Valion pursues FDA approval via the Animal Rule pathway for medical countermeasures and operates Velocity Bioworks, a contract manufacturing subsidiary, for bioproduction capacity and third-party CDMO revenue.
Summary from 10-K filed 2026-03-30
Financials
Consolidated Statement of Income
| 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 |
|---|---|---|---|---|---|---|
| Research and development | 3 | 1 | 2 | 2 | 878,000 | |
| Selling, general and administrative | 5 | 3 | — | — | — | |
| Total operating expenses | 8 | 4 | 9 | 10 | 6 | |
| Loss from operations | −8 | −4 | −8 | −10 | −6 | |
| Change in fair value of derivative liability | 28,000 | 0 | — | — | — | |
| Interest income | 23,000 | 6,000 | — | — | — | |
| Interest expense | −146,000 | 0 | — | — | — | |
| Net other (expense) income | −95,000 | 6,000 | 1,000 | 2,000 | −3 | |
| Net loss from operations before discontinued operations | −8 | −4 | — | — | — | |
| Loss from discontinued operations | −885,000 | −1 | — | — | — | |
| Net loss | −9 | −6 | −8 | −10 | −8 | |
| Net loss per share attributed to common stockholders - basic and diluted (in dollars per share) | −7.84 | −19.68 | −176.8 | −104.32 | −2.43 | |
| Weighted-average number of shares - basic and diluted (in shares) | 1 | 287,370 | 46,650 | 96,778 | 3 |
Consolidated Balance Sheet
| 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 | 13 | — | — | 2 | 3 | |
| Prepaid expenses and other current assets | 346,000 | — | — | 240,000 | 327,000 | |
| Current assets of discontinued operations | 15,000 | — | — | 397,000 | — | |
| Total current assets | 13 | — | — | 3 | 5 | |
| Property and equipment, net | 13 | — | — | 2,000 | 122,000 | |
| Deferred offering costs | 136,000 | — | — | 49,000 | — | |
| Licensed technology, net | 2 | — | — | 0 | — | |
| Goodwill | 3 | — | — | 0 | — | |
| Other assets | 124,000 | — | — | 0 | 34,000 | |
| Non-current assets of discontinued operations | 0 | — | — | 117,000 | — | |
| TOTAL ASSETS | 32 | — | — | 3 | 5 | |
| Accounts payable | 264,000 | — | — | 125,000 | 713,000 | |
| Other accrued expenses | 376,000 | — | — | 132,000 | 495,000 | |
| Current liabilities of discontinued operations | 6,000 | — | — | 15,000 | — | |
| Total current liabilities | 646,000 | — | — | 272,000 | 1 | |
| Convertible note payable, net | 6 | — | — | 0 | — | |
| Derivative liability | 292,000 | — | — | 0 | — | |
| Other non-current liabilities | 48,000 | — | — | 0 | — | |
| Non-current liabilities of discontinued operations | 0 | — | — | 0 | — | |
| Total liabilities | 7 | — | — | 272,000 | 2 | |
| COMMITMENTS AND CONTINGENCIES (Note 9) | — | — | — | — | — | |
| Preferred stock, $0.0001 par value, 10,000,000 shares authorized; 403 shares issued and outstanding as of December 31, 2025, and no shares issued and outstanding as of December 31, 2024 | 0 | — | — | 0 | — | |
| Common stock, $0.0001 par value, 200,000,000 shares authorized; 2,525,778 and 556,902 shares issued and outstanding as of December 31, 2025, and December 31, 2024, respectively | 2,000 | — | — | 1,000 | 0 | |
| Additional paid in capital | 69 | 53 | 50 | 46 | 41 | |
| Accumulated deficit | −53 | — | — | −44 | −38 | |
| Total Stockholders equity | 17 | 3 | 3 | 3 | 4 | |
| TOTAL LIABILITIES, TEMPORARY EQUITY AND STOCKHOLDERS' EQUITY | 32 | — | — | 3 | 5 |
Consolidated Statement of Cash Flows
| 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 | 564,000 | 229,000 | 271,000 | 398,000 | 57,000 | |
| Depreciation | 5,000 | 3,000 | 8,000 | 10,000 | 8,000 | |
| Amortization of debt discount and debt issuance costs | 97,000 | 0 | — | — | — | |
| Non-cash interest expense | 48,000 | — | — | — | 76,000 | |
| Issuance of warrants for services | 93,000 | 0 | — | — | 280,000 | |
| Amortization of right-of-use asset | 0 | 349,000 | 174,000 | 164,000 | 16,000 | |
| Write-off offering costs related to unclosed financing arrangements | 143,000 | 0 | — | — | — | |
| Prepaid expenses and other current assets | 78,000 | 78,000 | −92,000 | 558,000 | −707,000 | |
| Other assets | 0 | 34,000 | — | 15,000 | — | |
| Accounts payable | 139,000 | −588,000 | — | — | — | |
| Accrued expenses | 235,000 | −348,000 | 103,000 | 109,000 | 128,000 | |
| Lease liabilities | 0 | −369,000 | −161,000 | −178,000 | 4,000 | |
| Net cash used in operating activities - continuing operations | −7 | −5 | — | — | — | |
| Net cash used in operating activities - discontinued operations | −380,000 | −643,000 | — | — | — | |
| Net cash used in operating activities | −7 | −6 | −9 | −9 | −6 | |
| Issuance of note receivable | −124,000 | 0 | — | — | — | |
| Acquisition of property and equipment | −38,000 | 0 | −118,000 | −11,000 | — | |
| Acquisition of licensed technology | −543,000 | 0 | — | — | — | |
| Net cash used in investing activities | −705,000 | 0 | −118,000 | −11,000 | — | |
| Issuance costs in connection with senior convertible note | −172,000 | 0 | — | — | — | |
| Proceeds from issuance of common stock, net of issuance costs | 2 | 0 | 9 | — | 15 | |
| Proceeds from issuance of common stock and warrants, net of issuance costs | 0 | 4 | — | — | — | |
| Proceeds from issuance of preferred stock and warrants, net of issuance costs | 16 | 0 | — | — | — | |
| Proceeds from warrant exercises | 109,000 | 0 | — | — | — | |
| Offering costs in advance of sale of common stock | −136,000 | −49,000 | — | — | — | |
| Net cash provided by financing activities | 18 | 4 | 9 | −528,000 | 18 | |
| Net increase (decrease) in cash and cash equivalents | 11 | −1 | −122,000 | −9 | 12 | |
| Convertible note issued in exchange for purchase of Scorpius assets and goodwill | 16 | 0 | 75,000 | −434,000 | −181,000 | |
| Warrants issued to placement agents as non-cash offering fees | 221,000 | 70,000 | — | — | — | |
| Non-cash recognition of embedded derivative liability on issuance of convertible notes | 320,000 | 0 | — | — | — | |
| Dividends declared | 168,000 | 0 | — | — | — | |
| Deemed dividends | 10,000 | 0 | — | — | — | |
| Write-off of ROU asset and lease liability | 0 | 290,000 | — | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Valion Bio, Inc.'s CIK number?
Valion Bio, Inc.'s SEC CIK number is 0001787740 (1787740). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Valion Bio, Inc.'s SEC filings?
All of Valion Bio, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Valion Bio, Inc. last report earnings?
Valion Bio, Inc. (VBIO) most recently filed an earnings 8-K with the SEC on May 14, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001437749-26-017082). This is Valion Bio, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Valion Bio, Inc.'s most recent earnings 8-K?
Valion Bio, Inc.'s latest earnings 8-K (Item 2.02) was filed May 14, 2026 under accession 0001437749-26-017082. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Valion Bio, Inc.'s latest earnings 8-K →
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