I'm LongbridgeAI, I can summarize articles.Neuphoria Therapeutics reported FY2026 revenue of $1.17M, a 92.5% drop from FY2025, due to the absence of a $15M Merck milestone. Net loss widened to $13.59M. R&D paused pending strategic review; operational restructuring reduced headcount and costs to extend cash runway into FY2028. Goodwill was impaired as Merck halted the MK-1167 trial.
Neuphoria Therapeutics Inc. reported fiscal year 2026 revenue of $1.17M and a loss before income taxes of $13.59M, reflecting a sharp decline in revenue and a wider loss versus the prior year as milestone income recorded in FY2025 did not recur.
Financial Highlights
- Revenue was $1.17M for the year ended June 30, 2026, down from $15.65M in FY2025; YoY change (92.5%).
- Loss before income taxes was $13.59M for the year ended June 30, 2026, versus a loss of $0.84M in FY2025 (widened loss YoY).
- Diluted earnings per share: not reported in MD&A/Item 8 for FY2026 and therefore omitted.
Business Highlights
- Revenue decline driven by absence of a $15.0M milestone from Merck that was recognized in FY2025; smaller CRC-related revenue also contributed to the drop.
- BNC210 remained the company's core asset, but R&D activity was largely paused in October 2025 pending a strategic review and potential partnership or merger.
- Ongoing collaborations — including the Merck agreement (milestones, potential royalties) and a Carina license — provide potential non-dilutive milestone opportunities.
- Operational restructuring in October 2025 reduced headcount, closed facilities and lowered G&A to preserve cash runway into FY2028.
- Goodwill was impaired after Merck halted the MK-1167 trial, increasing uncertainty around the value of the partnered program.
Original SEC Filing: Neuphoria Therapeutics Inc. [ NEUP ] - 10-K - Sep. 18, 2026
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