$CRDF

Trovagene, Inc.

CIK:0001213037|SEC Filings

CONDENSED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Royalty revenues	$ 104	$ 121	$ 145	$ 230
Costs and expenses:
Research and development	5,915	11,580	12,680	22,057
Selling, general and administrative	3,804	3,318	9,930	7,332
Total operating expenses	9,719	14,898	22,610	29,389
Loss from operations	(9,615)	(14,777)	(22,465)	(29,159)
Other income (expense), net:
Interest income	382	835	888	1,776
Other income (expense), net	1	(1)	0	6
Total other income (expense), net	383	834	888	1,782
Net loss	(9,232)	(13,943)	(21,577)	(27,377)
Preferred stock dividend payable on Series A Convertible Preferred Stock	(6)	(6)	(12)	(12)
Net loss attributable to common stockholders	$ (9,238)	$ (13,949)	$ (21,589)	$ (27,389)
Net loss per common share - basic	$ (0.14)	$ (0.21)	$ (0.32)	$ (0.41)
Net loss per common share - diluted	$ (0.14)	$ (0.21)	$ (0.32)	$ (0.41)
Weighted-average shares outstanding - basic	68,397	66,526	68,373	66,525
Weighted-average shares outstanding - diluted	68,397	66,526	68,373	66,525

CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Operating activities
Net loss	$ (21,577)	$ (27,377)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	174	187
Stock-based compensation expense	2,580	3,048
Amortization of right-of-use assets	269	270
Accretion of discounts on short-term investments, net	(157)	(438)
Changes in operating assets and liabilities:
Accounts receivable and unbilled receivable	(7)	247
Prepaid expenses and other current assets	742	388
Other assets	(378)	(332)
Accounts payable and accrued liabilities	(5,324)	3,223
Operating lease liabilities	(375)	(338)
Net cash used in operating activities	(24,053)	(21,122)
Investing activities
Capital expenditures	(44)	(26)
Maturities of short-term investments	27,354	35,020
Purchases of short-term investments	(13,872)	(55,797)
Sales of short-term investments	2,088	1,236
Net cash provided by (used in) investing activities	15,526	(19,567)
Financing activities
Proceeds from sale of common stock	212	0
Payment of issuance costs	(64)	0
Proceeds from exercise of options	106	3
Net cash provided by financing activities	254	3
Net change in cash and cash equivalents	(8,273)	(40,686)
Cash and cash equivalents - Beginning of period	17,470	51,470
Cash and cash equivalents - End of period	9,197	10,784
Supplemental disclosure of non-cash investing activities:
Acquisition of property and equipment included in accounts payable and accrued liabilities	$ 2	$ 6

CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 9,197	$ 17,470
Short-term investments	25,323	40,834
Accounts receivable and unbilled receivable	189	182
Prepaid expenses and other current assets	883	1,642
Total current assets	35,592	60,128
Property and equipment, net	450	578
Operating lease right-of-use assets	360	629
Other assets	927	549
Total Assets	37,329	61,884
Current liabilities:
Accounts payable	3,986	8,087
Accrued liabilities	6,354	7,577
Operating lease liabilities	457	730
Total current liabilities	10,797	16,394
Operating lease liabilities, net of current portion	0	102
Total Liabilities	10,797	16,496
Commitments and contingencies (Note 6)
Stockholders’ equity
Preferred stock, $0.001 par value, 20,000 shares authorized; 277 designated as Series A Convertible Preferred Stock; 61 shares outstanding at June 30, 2026 and December 31, 2025 with liquidation preference of $1,129 and $1,117 at June 30, 2026 and December 31, 2025, respectively	0	0
Common stock, $0.0001 par value, 150,000 shares authorized; 68,502 and 68,305 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	7	7
Additional paid-in capital	478,194	475,361
Accumulated other comprehensive gain (loss)	(62)	50
Accumulated deficit	(451,607)	(430,030)
Total stockholders’ equity	26,532	45,388
Total liabilities and stockholders’ equity	$ 37,329	$ 61,884