Decoy Therapeutics Inc. reported a $2.37 million net loss for the second quarter of 2026. This result represents a significant widening from the previous year's loss. The company generated $227,629 in grant revenue during the period. Increased research and development expenses drove the higher quarterly loss.
The biotechnology firm raised substantial doubt regarding its ability to continue as a going concern. Current cash reserves total $8.29 million. Management expects these funds to support operations only into late 2026. The company also faces potential delisting if Nasdaq adopts a proposed $5 million market-value listing standard.
Decoy recently secured approximately $3.5 million in gross proceeds through a private placement. The financing deal includes milestone-based warrants for potential future funding. These warrants depend on the achievement of specific clinical and regulatory goals.