$SMNR · Semnur Pharmaceuticals, Inc.
Semnur Pharmaceuticals filed its Q3 FY2026 10-Q. Net loss was $3.6M for the quarter and $12.6M for nine months, versus $152.6M and $154.3M in the prior-year periods. Cash and cash equivalents fell to $54K from $20K, with total liabilities of $35.3M against a $33.3M stockholders' deficit. The company disclosed a July 3, 2026 binding term sheet with iHolding Group LLP for a $100M purchase of ~10M shares at $10.00 per share, with no definitive agreement executed as of September 30, 2026.
- Q3 net loss of $3.6M, down from $152.6M a year earlier.
- Cash and cash equivalents of just $54K as of September 30, 2026.
- Total liabilities of $35.3M versus a $33.3M stockholders' deficit.
- iHolding term sheet contemplates $100M for ~10M shares at $10.00 per share.
- Related party loan grew to $24.0M from $11.9M at year-end 2025.
Price data unavailable.
A pre-revenue-stage biotech with $54K cash and a $33.3M deficit is dependent on an unsigned $100M financing term sheet to continue operating.
_Not applicable._
The company has minimal cash ($54K) and a stockholders' deficit, raising going-concern risk absent the pending iHolding financing. The $100M term sheet has no fixed completion date and no definitive agreement was executed as of quarter-end.