ABPRO HOLDINGS, INC. FORM 10-Q FOR THE QUARTER ENDED JUNE 30, 2026
ABPRO HOLDINGS, INC. FORM 10-Q FOR THE QUARTER ENDED JUNE 30, 2026
Abpro Holdings, Inc. filed its Form 10-Q for the quarter ended June 30, 2026, reporting a net loss of $1.4 million for the three months ended June 30, 2026, compared to a net loss of $1.1 million for the same period in 2025. The company’s total assets decreased to $2.3 million as of June 30, 2026, from $3.4 million as of December 31, 2025. The company’s cash and cash equivalents decreased to $1.1 million as of June 30, 2026, from $2.1 million as of December 31, 2025. The company’s total liabilities increased to $1.4 million as of June 30, 2026, from $1.1 million as of December 31, 2025. The company’s management’s discussion and analysis of financial condition and results of operations highlights the company’s efforts to reduce costs and improve operational efficiency, but notes that the company’s financial performance is subject to various risks and uncertainties.
Overview
Abpro Holdings, Inc. is a biotechnology company focused on developing next-generation antibody therapeutics to improve the lives of patients with severe and life-threatening diseases. The company is primarily working in the areas of immuno-oncology, ophthalmology, and infectious disease, leveraging its proprietary DiversImmune® and MultiMab™ antibody discovery and engineering platforms.
The company’s two lead product candidates are ABP-102 and ABP-201. ABP-102 is designed to redirect the immune system to fight cancer by targeting HER2 and CD3, while ABP-201 is designed to block blood vessel formation and normalize damaged vessels by targeting VEGF and ANG-2. The Phase 1 clinical trials for ABP-102 are being led by Celltrion, and the company plans to develop ABP-201 for the treatment of wet age-related macular degeneration.
Recent Developments
In February 2026, Abpro’s securities were delisted from the Nasdaq Capital Market due to the company’s failure to meet the minimum equity standard requirement. The company’s stock is now trading on the OTC Pink Limited Market under the ticker symbol “ABPO”. This delisting has several material adverse consequences, including reduced liquidity and market price for the company’s securities, as well as potential difficulties in raising future capital.
Results of Operations
For the three months ended June 30, 2026, Abpro reported:
| Metric | Q2 2026 | Q2 2025 | Change |
|---|---|---|---|
| Research and Development Expenses | $9,000 | $313,000 | -97% |
| General and Administrative Expenses | $1,166,000 | $1,948,000 | -40% |
| Total Operating Expenses | $1,175,000 | $2,261,000 | -48% |
| Net Loss | $940,000 | $2,984,000 | -68% |
The decreases in operating expenses were primarily due to reductions in research and development activities, as well as cost-cutting measures in general and administrative areas.
For the six months ended June 30, 2026, Abpro reported:
| Metric | H1 2026 | H1 2025 | Change |
|---|---|---|---|
| Research and Development Expenses | $22,000 | $638,000 | -97% |
| General and Administrative Expenses | $2,086,000 | $4,581,000 | -54% |
| Total Operating Expenses | $2,108,000 | $5,219,000 | -60% |
| Net Loss | $1,968,000 | $6,871,000 | -71% |
The decreases in operating expenses for the six-month period were also driven by reduced research and development activities and cost-cutting measures in general and administrative areas.
Liquidity, Capital Resources and Going Concern
As of June 30, 2026, Abpro had $4.2 million in cash. The company expects that this cash will not be sufficient to allow it to operate for at least 12 months from the date the financial statements were issued. Abpro plans to seek additional funding through equity and debt financings, collaborations, and research grants, but there is substantial doubt about the company’s ability to continue as a going concern.
The company’s future funding requirements will depend on various factors, including the progress of its clinical trials, regulatory approvals, and the costs of manufacturing, marketing, and commercializing any approved products. Abpro may need to raise additional capital through various means, which could result in further dilution to shareholders or the imposition of restrictive covenants.
In summary, Abpro is a biotechnology company facing significant financial challenges following the delisting of its securities from Nasdaq. The company is working to advance its pipeline of antibody therapeutics, but its ability to continue operations is dependent on its success in securing additional funding. Investors should closely monitor the company’s progress and its efforts to address its going concern issues.