$AKTX

Celsus Therapeutics Plc.

CIK:0001541157|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating expenses:
Research and development	$ 2,077	$ 667	$ 3,536	$ 1,480
General and administrative	2,525	2,452	4,694	5,164
Impairment loss on other intangible assets			3,700
Impairment loss on goodwill			8,430
Loss from operations	(4,602)	(3,119)	(20,360)	(6,644)
Other income (expense):
Interest expense	(80)	(50)	(141)	(105)
Gain on settlement of current liabilities		1,190	167	1,244
Change in fair value of warrant liabilities	(99)	134	(55)	80
Foreign currency exchange gain (loss), net	(26)	(50)	38	(175)
Change in fair value of derivative liability			230
Total other income (expense), net	(205)	1,224	239	1,044
Net loss before tax	(4,807)	(1,895)	(20,121)	(5,600)
Benefit from deferred income taxes			859
Net loss	$ (4,807)	$ (1,895)	$ (19,262)	$ (5,600)
Net loss per share - basic	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
Net loss per share - diluted	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
Weighted-average number of ordinary shares used in computing net loss per share - basic	143,317,469,445	62,943,895,665	131,037,241,423	58,766,089,753
Weighted-average number of ordinary shares used in computing net loss per share - diluted	143,317,469,445	62,943,895,665	131,037,241,423	58,766,089,753
Comprehensive loss:
Net loss	$ (4,807)	$ (1,895)	$ (19,262)	$ (5,600)
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustment	73	(333)	87	(368)
Total other comprehensive (loss) income, net of tax	73	(333)	87	(368)
Total comprehensive loss	$ (4,734)	$ (2,228)	$ (19,175)	$ (5,968)

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (4,807)	$ (1,895)	$ (19,262)	$ (5,600)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation			1,016	1,734
Issuance of share capital for payments in kind				27
Accretion of debt issuance costs on convertible notes payable			20
Gain on settlement of current liabilities		(1,190)	(167)	(1,244)
Change in fair value of warrant liabilities	99	(134)	55	(80)
Impairment loss on other intangible assets			3,700
Impairment loss on goodwill			8,430
Change in fair value of derivative liability			(230)
Deferred tax benefit			(859)
Unrealized foreign currency exchange gains			48	(394)
Change in assets and liabilities:
Prepaid expenses and other current assets			98	263
Accounts payable, accrued expenses and other current liabilities			1,554	(112)
Net cash used in operating activities			(5,597)	(5,406)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of shares, net of issuance costs			8,426	5,879
Proceeds from issuance of restricted shares				33
Proceeds from issuance of pre-funded warrants				330
Repayments of notes payable			(81)	(455)
Payments on short-term financing arrangement			(257)	(273)
Net cash provided by financing activities			8,088	5,514
Effect of exchange rates on cash				4
Net change in cash			2,491	112
Cash and restricted cash at beginning of period			5,263	2,659
Cash and restricted cash at end of period	7,754	2,771	7,754	2,771
Components of cash and restricted cash
Cash	7,694	2,711	7,694	2,711
Restricted cash	60	60	60	60
Total cash and restricted cash	$ 7,754	$ 2,771	7,754	2,771
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES:
Financing costs in accrued expenses				233
Issuance of share capital for settlement of convertible notes, related party				309
Issuance of share capital for settlement of related party debt				1,000
Issuance of share capital for payments in kind				595
Short-term financing arrangement			469	499
SUPPLEMENTAL CASH FLOW DISCLOSURES:
Cash paid for interest			17	15
Cash paid for income taxes			$ 90

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash	$ 7,694	$ 5,203
Restricted cash	60	60
Prepaid expenses	532	185
Other current assets	38	14
Total current assets	8,324	5,462
Goodwill		8,430
Other intangible assets	30,300	34,000
Total assets	38,624	47,892
Current liabilities:
Accounts payable	9,401	8,770
Accrued expenses	3,513	2,342
Convertible notes, net	693	673
Notes payable, net		81
Warrant liabilities	116	61
Other current liabilities	212	424
Total current liabilities	13,935	12,351
Derivative liability		230
Other non-current liabilities		31
Deferred tax liability	6,094	6,952
Total liabilities	20,029	19,564
Commitments and contingencies (Note 13)
Shareholders’ equity:
Authorized: 4,365,687,180,943 and 761,963,201,733 ordinary shares at June 30, 2026, and December 31, 2025; issued and outstanding: 140,032,769,533 and 90,536,879,533 ordinary shares at June 30, 2026, and December 31, 2025, respectively	1
Additional paid-in capital	243,759	234,318
Capital redemption reserve	59,342	59,342
Accumulated other comprehensive loss	(695)	(782)
Accumulated deficit	(283,812)	(264,550)
Total shareholders’ equity	18,595	28,328
Total liabilities and shareholders’ equity	$ 38,624	$ 47,892