$ESLA

Estrella Immunopharma, Inc.

CIK:0001844417|SEC Filings

Unaudited Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating expenses
Research and development (including $1,375,000, $4,625,000, $2,750,000 and $6,000,000 from a related party for the three months ended June 30, 2026 and 2025 and the six months ended June 30, 2026 and 2025, respectively)	$ 1,400,232	$ 4,660,301	$ 2,800,507	$ 6,070,489
General and administrative (including $63,231, $65,151, $133,177 and $129,586 from related parties for the three months ended June 30, 2026 and 2025 and the six months ended June 30, 2026 and 2025, respectively)	684,015	883,727	1,467,177	1,577,837
Total operating expenses	2,084,247	5,544,028	4,267,684	7,648,326
Loss from Operations	(2,084,247)	(5,544,028)	(4,267,684)	(7,648,326)
Other expenses:
Change in fair value of derivative liabilities	(222,092)		(330,719)
Total other expenses	(222,092)		(330,719)
Loss before income tax	(2,306,339)	(5,544,028)	(4,598,403)	(7,648,326)
Income tax provision		(850)		(863)
Net loss	$ (2,306,339)	$ (5,544,878)	$ (4,598,403)	$ (7,649,189)
Net loss applicable to common stock per share, basic (in Dollars per share)	$ (0.05)	$ (0.15)	$ (0.11)	$ (0.21)
Net loss applicable to common stock per share, diluted (in Dollars per share)	$ (0.05)	$ (0.15)	$ (0.11)	$ (0.21)
Weighted average common stock outstanding, basic (in Shares)	42,997,733	36,165,589	42,561,826	36,176,878
Weighted average common stock outstanding, diluted (in Shares)	42,997,733	36,165,589	42,561,826	36,176,878

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities:
Net loss	$ (4,598,403)	$ (7,649,189)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	292,012	318,193
Change in fair value of derivative liabilities	330,719
Changes in operating assets and liabilities:
Prepaid expenses and other receivables	114,662	559,928
Accounts payable - related party	(546,549)	3,719
Other payables and accrued liabilities	17,145	(90,993)
Accrued liability - related party	(4,088,334)	5,981,666
Franchise tax payable		(4,134)
Income tax payable		(50)
Net cash used in operating activities	(8,478,748)	(880,860)
Cash Flows from Financing Activities:
Payments of transactions cost	(758,882)	(40,000)
Proceeds received from issuance of common stock for PIPE investment		1,350,000
Proceeds received from issuance of common stock, prefunded warrants and common stock warrants for registered direct offering	7,999,988	0
Proceeds received from exercise of prefunded warrants	10
Purchase of treasury stock		(29,462)
Net cash provided by financing activities	7,241,116	1,280,538
Net Change in Cash and Cash Equivalents	(1,237,632)	399,678
Cash and Cash Equivalents at beginning of the period	1,384,302	916,916
Cash and Cash Equivalents at end of the period	146,670	1,316,594
Supplemental Cash Flow Information
Cash paid for income tax	1,600	913
Cash paid for interest
Supplemental Disclosure of Non-cash Financing Activities
Recognition of derivative liabilities upon closing of the PIPE investment		$ 187,941

Unaudited Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 146,670	$ 1,384,302
Prepaid expenses and other receivables	178,011	292,673
Total current assets	1,824,681	1,676,975
Other Assets
Prepaid expenses, related party, non-current		1,500,000
Total Assets	1,824,681	3,176,975
Current liabilities:
Other payables and accrued liabilities	255,559	238,414
Derivative liabilities	687,224	356,505
Total current liabilities	9,256,014	13,543,033
Total Liabilities	9,256,014	13,543,033
Commitments and Contingencies (Note 4)
Preferred Stock
Preferred Stock, $0.0001 par value, 10,000,000 shares authorized; 0 shares issued and outstanding as of June 30, 2026 and December 31, 2025
Stockholders’ Deficit:
Common stock, $0.0001 par value; 250,000,000 shares authorized; 43,549,509 and 38,486,219 shares issued as of June 30, 2026 and December 31, 2025, respectively	4,355	3,849
Additional paid-in capital	34,751,909	27,219,287
Accumulated deficit	(41,589,218)	(36,990,815)
Treasury stock, at cost 515,281 shares as of June 30, 2026 and December 31, 2025	(598,379)	(598,379)
Total Stockholders’ Deficit	(7,431,333)	(10,366,058)
Total Liabilities and Stockholders’ Deficit	1,824,681	3,176,975
Related Party
Current assets:
Prepaid expenses, related party	1,500,000
Current liabilities:
Accounts payable - related party	8,232	554,781
Accrued liability - related party	$ 8,304,999	$ 12,393,333