$PYPD

PolyPid Ltd.

CIK:0001611842|SEC Filings

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Operating expenses:
Research and development	$ 23,807	$ 22,811	$ 16,148
Marketing and business development	1,977	945	1,196
General and administrative	7,183	4,273	5,523
Operating loss	32,967	28,029	22,867
Loss on extinguishment of debt	512
Financial expense, net	685	951	929
Loss before income tax	34,164	28,980	23,796
Income tax expense	5	42	69
Net loss	$ 34,169	$ 29,022	$ 23,865
Loss per share:
Basic (in Dollars per share)	$ 2.09	$ 4.91	$ 16.99
Diluted (in Dollars per share)	$ 2.09	$ 4.91	$ 16.93
Weighted-average ordinary shares outstanding:
Basic (in Shares)	16,351,890	5,912,890	1,404,368
Diluted (in Shares)	16,351,890	5,912,890	1,421,308

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net loss	$ (34,169)	$ (29,022)	$ (23,865)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation of property and equipment	1,458	1,622	1,822
Remeasurement of warrants			(201)
Non-cash financial expenses, net	213	697	1,727
Loss on extinguishment of debt	512
Share-based compensation expenses	4,854	2,824	3,391
Changes in assets and liabilities:
Pre-launch inventories	(1,106)
Prepaid expenses and other assets	(225)	(315)	641
Operating lease right-of-use assets	907	824	593
Operating lease liabilities	(675)	(723)	(494)
Trade payables	180	1,637	(369)
Accrued expenses and other liabilities	172	493	(481)
Net cash used in operating activities	(27,879)	(21,963)	(17,236)
Cash flows from investing activities:
Investment in bank deposits	(26,216)	(21,353)	(18,600)
Proceeds from bank deposits	19,722	21,099	22,600
Purchase of property and equipment	(210)	(76)	(196)
Net cash provided (used in) by investing activities	(6,704)	(330)	3,804
Cash flows from financing activities:
Proceeds from exercise of options	1		9
Proceeds from issuance of ordinary shares, warrants, pre-funded warrants and abeyance shares, net	32,603	35,863	12,710
Payment due to long-term debt	(6,376)	(3,322)	(2,618)
Payment of fees due to debt	(859)	(125)	(125)
Net cash provided by financing activities	25,369	32,416	9,976
Increase (decrease) in cash, cash equivalents and restricted deposits	(9,214)	10,123	(3,456)
Cash, cash equivalents and restricted deposits at the beginning of the year	15,809	5,686	9,142
Cash, cash equivalents and restricted deposits at the end of the year	6,595	15,809	5,686
Supplemental disclosures of cash flows:
Interest paid	557	950	1,038
Cash paid during the year for income taxes	5	3	18
Supplemental disclosures of cash flow information:
Cash and cash equivalents	6,402	15,641	5,309
Restricted deposits	193	168	300
Restricted deposits included in other long-term assets			77
Cash, cash equivalents and restricted deposits at the end of the year	6,595	15,809	5,686
Supplemental disclosures of non-cash investing and financing information:
Property and equipment acquired by credit	267
Right-of-use asset recognized with corresponding lease liability	287	1,522	241
Credit line derivative		100	127
Modification of warrants			31
Warrants issued as part of credit line		$ 115

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
CURRENT ASSETS:
Cash and cash equivalents	$ 6,402	$ 15,641
Restricted deposits	193	168
Short-term deposits	6,531
Pre-launch inventories	1,106
Prepaid expenses and other current assets	995	764
Total current assets	15,227	16,573
LONG-TERM ASSETS:
Property and equipment, net	5,094	6,075
Operating lease right-of-use assets	1,675	2,295
Other long-term assets	311	277
Total long-term assets	7,080	8,647
Total assets	22,307	25,220
CURRENT LIABILITIES:
Trade payables	2,856	2,409
Accrued expenses and other current liabilities	2,734	2,566
Current maturities of long-term debt	988	6,787
Current maturities of operating lease liabilities	1,161	919
Total current liabilities	7,739	12,681
LONG-TERM LIABILITIES:
Long-term debt		634
Deferred revenues	2,548	2,548
Long-term operating lease liabilities	647	1,277
Other liabilities	400	396
Total long-term liabilities	3,595	4,855
COMMITMENTS AND CONTINGENT LIABILITIES (NOTE 8)
SHAREHOLDERS’ EQUITY:
Ordinary shares, no par value - Authorized: 107,800,000 shares at December 31, 2025 and 2024; Issued and outstanding: 18,204,002 and 10,190,904 shares at December 31, 2025 and 2024, respectively
Additional paid-in capital	312,473	275,015
Accumulated deficit	(301,500)	(267,331)
Total shareholders’ equity	10,973	7,684
Total liabilities and shareholders’ equity	$ 22,307	$ 25,220