Bioxytran (BIXT) Q3 2025 earnings summary

Executive summary

• Remains a clinical-stage pharmaceutical company focused on developing therapeutics for hypoxia and viral diseases, with no revenue generated as of September 30, 2025.

• Completed recruitment for a Phase 1b/2a COVID-19 trial in India; results expected within 90 days, with further trials planned pending positive outcomes.

• Continues to face significant liquidity challenges, with a negative working capital of $3.05 million and accumulated deficit of $20.5 million.

• Ongoing efforts to raise capital through private placements and loans, but substantial doubt remains about ability to continue as a going concern.

Financial highlights

• Net loss for the quarter ended September 30, 2025, was $282,726; net loss for the nine months was $1,600,922, both slightly improved from prior year periods.

• Operating expenses for the nine months were $1,235,224, with research and development at $452,000 and general/admin at $783,224.

• Cash at period end was $14,499, up from $5,154 at year-end 2024, but still insufficient for ongoing operations.

• Total liabilities increased to $3,060,937 from $1,930,642 at year-end 2024, driven by higher accounts payable, loans from affiliates, and derivative liabilities.

• Accumulated deficit grew to $20,522,092 from $18,921,169 at year-end 2024.

Outlook and guidance

• Requires at least $3.7 million in new funding to continue operations for the next 15 months; without it, development will be delayed or scaled back.

• Plans to pursue additional capital through private placements and public offerings, but no assurance of success.

• If unable to raise funds, may need to extend payables, reduce overhead, or curtail business plan.