--- title: "Hepion Pharmaceuticals 2025 10-K: $0 Revenue, $(0.88) EPS on $(8.28) M Net Loss" type: "News" locale: "en" url: "https://longbridge.com/en/news/278862251.md" description: "Hepion Pharmaceuticals reported no revenue for 2025, with a net loss of $(8.28) million or $(0.88) per share, despite narrowing its operating loss to $(4.16) million from $(19.35) million in 2024. The company is shifting focus to CE-marked diagnostics for commercialization in non-U.S. markets after winding down its ASCEND-NASH trial due to funding issues. Cost reductions in R&D and administrative expenses contributed to lower losses. The strategic pivot aims to enhance market readiness in the EU with new diagnostic products." datetime: "2026-03-12T10:15:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/278862251.md) - [en](https://longbridge.com/en/news/278862251.md) - [zh-HK](https://longbridge.com/zh-HK/news/278862251.md) --- # Hepion Pharmaceuticals 2025 10-K: $0 Revenue, $(0.88) EPS on $(8.28) M Net Loss Hepion Pharmaceuticals reported zero commercial product revenue for the years ended December 31, 2025 and 2024 and posted a net loss of $(8.28) million in 2025, or $(0.88) per share, driven by continued development and restructuring activities. The company narrowed its operating loss to $(4.16) million in 2025 from $(19.35) million in 2024, reflecting reduced R&D and general and administrative expenses following program wind-downs and cost reductions. Hepion repositioned its business in 2025 with a strategic move into CE-marked diagnostics to enable near-term commercialization in eligible non-U.S. markets. **Financial Highlights** - **Revenues:** $0 — no commercial product revenue for the years ended December 31, 2025 and 2024. - **Operating Income (Loss):** Loss from operations of $(4.16) million (2025) versus $(19.35) million (2024); operating loss decreased due to lower R&D and G&A expenses. - **Net Income (Net loss):** Net loss of $(8.28) million for 2025 versus $(13.19) million for 2024. - **Net Income Per Share:** Net loss per common share — basic and diluted: $(0.88) (2025) versus $(107.35) (2024). **Business Highlights** - **Clinical program adjustments:** The ASCEND-NASH trial was wound down in 2024 and closed in August 2024 due to a funding shortfall, a decision taken to preserve patient safety. - **Strategic pivot to diagnostics:** In May 2025, Hepion licensed CE-marked tests covering celiac, respiratory multiplex, H. pylori, and hepatocellular carcinoma diagnostics to enter EU and other eligible markets. - **Commercial readiness in EU:** Acquisition of CE-marked diagnostics provides near-term go-to-market capability outside the U.S., supporting a strategic shift from clinical therapeutics toward diagnostic products. - **Operational cost reductions:** Headcount reductions and cuts to R&D in 2025 materially lowered clinical and G&A spending versus 2024, conserving cash and reducing operating losses. Original SEC Filing: Hepion Pharmaceuticals, Inc. \[ HEPA \] - 10-K - Mar. 11, 2026 **Disclaimer** This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC. ### Related Stocks - [BIB.US](https://longbridge.com/en/quote/BIB.US.md) - [XLV.US](https://longbridge.com/en/quote/XLV.US.md) - [IHE.US](https://longbridge.com/en/quote/IHE.US.md) - [SBIO.US](https://longbridge.com/en/quote/SBIO.US.md) - [ARKG.US](https://longbridge.com/en/quote/ARKG.US.md) - [LABU.US](https://longbridge.com/en/quote/LABU.US.md) - [FBT.US](https://longbridge.com/en/quote/FBT.US.md) - [LABD.US](https://longbridge.com/en/quote/LABD.US.md) - [VHT.US](https://longbridge.com/en/quote/VHT.US.md) - [BBH.US](https://longbridge.com/en/quote/BBH.US.md) - [PBE.US](https://longbridge.com/en/quote/PBE.US.md) - [XBI.US](https://longbridge.com/en/quote/XBI.US.md) - [IBB.US](https://longbridge.com/en/quote/IBB.US.md) - [HEPA.US](https://longbridge.com/en/quote/HEPA.US.md) ## Related News & Research - [Relay's treatment shown to shrink vascular malformations in mid-stage trial](https://longbridge.com/en/news/286890329.md) - [Relay drug shows early promise against rare blood vessel diseases](https://longbridge.com/en/news/287094432.md) - [Enanta Pharma's RSV Bet And Immunology Ambitions](https://longbridge.com/en/news/286895623.md) - [Erasca Touts 'Eye-Popping' ERAS-0015 Lung Cancer Data, FDA Path at BofA Conference](https://longbridge.com/en/news/286652404.md) - [Eton Pharmaceuticals Adds Another 2026 Launch As It Secures U.S. Rights To IMPAVIDO](https://longbridge.com/en/news/287025596.md)