Hepion Pharmaceuticals releases unaudited balance sheet

In a recent SEC filing, Hepion Pharmaceuticals, Inc. (NASDAQ:HEPA) disclosed its unaudited consolidated balance sheet as of January 31, 2025. The Edison, New Jersey-based pharmaceutical company, which operates under the organization name 03 Life Sciences, provided the financial document in compliance with the Securities Exchange Act of 1934. The company, currently trading at $0.10 per share with a market capitalization of $1.07 million, has seen its stock decline by 76% year-to-date according to InvestingPro data.

The balance sheet was made public on Monday as part of the company’s current report and is included as Exhibit 99.1 in the Form 8-K. Hepion Pharmaceuticals, known for its work in pharmaceutical preparations, is incorporated in Delaware and has its fiscal year-end on December 31. InvestingPro analysis indicates the company is quickly burning through cash, with a weak Financial Health Score of 1.03.

The release of the unaudited balance sheet provides investors and stakeholders with an updated snapshot of the company’s financial position. While specific figures from the balance sheet were not detailed in the announcement, such documents typically include assets, liabilities, and shareholders’ equity at a given point in time. With the next earnings report scheduled for April 4, 2025, investors using InvestingPro can access 13 additional financial tips and comprehensive analysis to better understand the company’s position.

The report did not include any commentary on the company’s performance or future outlook, sticking strictly to the disclosure of the financial statement. The filing also did not mention any particular events or business developments that might have affected the company’s financial status.

Investors can access the full details of the unaudited consolidated balance sheet by referring to the SEC filing. This disclosure is a routine part of Hepion Pharmaceuticals’ regulatory requirements and does not necessarily indicate any significant changes in the company’s financial health.

This news is based on a press release statement and aims to provide shareholders with the latest financial information without any promotional content.

In other recent news, Hepion Pharmaceuticals announced a public offering expected to generate approximately $9 million in gross proceeds. The offering includes shares of common stock and pre-funded warrants, with the funds earmarked for debt repayment and general corporate purposes. Hepion is also facing a potential Nasdaq delisting due to non-compliance with a listing rule related to annual shareholder meetings. The company has a 45-day window to submit a compliance plan to Nasdaq, which could extend their deadline to June 2025 if accepted. Additionally, Hepion has mutually terminated its merger agreement with Pharma Two B Ltd., initially established in July 2024, with no termination fees involved. The cancellation also led to the withdrawal of proposals from a special stockholder meeting. Hepion had previously implemented a strategic restructuring plan to reduce costs and explore financial alternatives. The company remains focused on maximizing shareholder value amid ongoing developments.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.