NOMAD Power Solutions (NMAD) Q2 2025 earnings summary

Executive summary

• Focused on clinical development of LB-100, a protein phosphatase inhibitor, for cancer therapy, with ongoing trials in ovarian clear cell carcinoma, metastatic colon cancer, and advanced soft tissue sarcoma.

• No revenue-generating operations; relies on equity financing and stock-based compensation for funding and personnel.

• Significant management and board changes in June-July 2025, including new CEO and board members.

Financial highlights

• Net loss for Q2 2025 was $775,673, down from $1,010,919 in Q2 2024; six-month net loss was $1,485,228, down from $1,982,241 year-over-year.

• Research and development costs for Q2 2025 were $60,648 (down 71.2% YoY); general and administrative costs were $714,161 (down 10.6% YoY).

• Cash used in operations for the six months ended June 30, 2025 was $1,055,968; cash balance at June 30, 2025 was $887,212.

• Working capital at June 30, 2025 was $452,630, down from $827,219 at December 31, 2024.

Outlook and guidance

• Existing cash and proceeds from July 2025 financings expected to fund operations for at least 12 months, but not sufficient for product approval.

• Additional capital will be required for further development and regulatory approval of LB-100.

• Business unlikely to generate sustainable revenues in the next several years.